When brands reach a level of success, they sometimes branch out into other areas of business.
Abercrombie and Fitch is an example of a business that has branched out, as they first started out as a sports goods store, but their rapid success allowed them to move on to selling more products and they didn’t actually become the clothing company that they are known by today, until 1988.
The well-known toothpaste company, Colgate, is another one who decided to change up their original sales plan. Colgate was originally founded in 1806 by a soap and candle maker named William Colgate. They started by selling soap, candles, and starch, and then moved onto selling toothpaste in a jar in 1873.
If you were a kid in the eighties, then there is a good chance you know of Nintendo. Believe it or not, the company didn’t start out by selling video gaming systems. Instead, Nintendo was founded in 1889 as a playing card company. It went on to setting up a taxi company, a TV network, a hotel chain, and a food company before it entered the video-gaming industry that it is known for today.
Just recently, another very famous company has decided to test its selling power and add to their list of products. Tiffany & Co., known for their high-end jewelry, just released an extravagant home accessories line. The line is proving to lack the same success that the jewelry products have offered in the past and consumers are raising their eyebrows at some of the over-the-top prices. Evidently, the renowned retailer, recently reported dismal profits earlier this year, which is why they are trying to pivot the business. They chose to go the home and accessories route and are set on selling fresh and updated designs that cost a pretty penny.
The new line, which is called “Everyday Objects,” is intended to revamp the Tiffany’s brand and they are pushing the products with the tagline, “Beautiful things shouldn’t just live in a drawer.”
Some of the items featured in the collection include handcrafted office supplies and accessories that are handcrafted in sliver, enamel and wood. The goal of the line is to create works of art out of traditional office supplies that are used every day.
So far the major problem is the price tag on the items, and social media has seen a whole lot of banter regarding the hefty cost of such basic items…
“Somebody please explain why is Tiffany & Co. selling A BALL OF YARN(!!!!) for 9 thousand dollars?????”
Evidently the pricey ball of yarn is made of handspun strands of textured sterling sliver. The limited edition piece is one of only five made in New York. It’s simply meant to be looked at, and not intended for actual use.
Some of the other products that are more useful, are cups made of bone china in the classic Tiffany blue hue. A set of two is going for $95.
There is also a $1,500 sterling silver coffee can, a $375 American walnut and silver ice cream scoop, and a $425 silver protractor.