Tiffany opens new innovation workshop to accelerate time-to-market

Tiffany bets on innovation to push forward its business. The American company has opened a new centre dedicated to research on new products and productive techniques. The company’s goal is to gain speed, accelerate the production cycle and improve its time-to-market, according to WWD.

The new hub, named Jewelry Design and Innovation Workshop, is led by Dana Naverezny, a veteran executive at Tiffany, and is located in the surrounding area of its headquarters in New York. The centre is equipped with laser welders and 3-D printers.

Tiffany expects the centre to employ eighty employees. Currently, the workshop staff was culled from preexisting Tiffany workshops, some relocated from facilities in Westchester and Rhode Island.

Tiffany plans to reach eighty employees in its new jewellery innovation centre, located in New York

Tiffany ended the first quarter of fiscal 2018 with a sales growth of 14.8%, up to one billion dollars (848.3 million euros). Net profit rose 53% compared to the same period of last year, up to 142 million dollars (120.5 million euros).

The company is lead since last July by Alessandro Bogliolo, former chief executive officer of Diesel.  During the first-quarter results presentation, Bogliolo summarized the company’s roadmap in six points: amplify an evolved brand message; renew the offer and improve the product presentation in store; give an omnichannel experience; improve business competitiveness; cultivate a more efficient operating model, and inspire an agile organization.