The Iconic Tiffany & Co Colour SOLD for $23.4 Billion
Louis Vuitton’s (‘LVMH’) move to buy Tiffany & Co is a huge acquisition for the luxury-goods dealer, not by investing in Tiffany & Co’s worth, but the reputation that comes with the name and iconic blue colour.
The French conglomerate LVMH has made the decision to purchase Tiffany & Co for an estimated $23.4 billion. The value in buying Tiffany & Co means that LVMH Chairman, Bernard Arnault, is challenging infamous jewellery designer Cartier’s owner Richemont for dominance in the worldwide jewellery business.
Arnault raised his bid twice for Tiffany & Co. You may ask why such a unique jewellery brand would be a crucial purchase for the largest global luxury brand corporation?
It comes down to two things: An iconic colour and Audrey Hepburn.
The iconic ‘Tiffany Blue’ came about in 1845 when Charles Lewis Tiffany selected the robin’s egg shade for the company’s first catalogue. Since then, the colour has been trademarked in 1998 and has its own Pantone Colour Number: 1837.
In the 1990’s the Supreme Court presided over a debate on the colour’s owner. The battle between a dry-cleaning press pads company versus St. Louis’s Jacobson Products saw, Justice Breyer state that a colour alone can “sometimes meet the basic legal requirements for a trademark”. Since the landmark Court decision, Tiffany & Co has cemented their reputation and made their name synonymous with the iconic shade of blue.
The business power that can come from a trademark colour is exceptionally evident when it comes to Tiffany & Co.
Laurie Pressman, vice president of Pantone Color Institute, told Artsey.net that “From the moment you set your eyes upon Tiffany’s cool and fresh aquatic blue shade, a colour that speaks to vibrancy and escape, you are immediately transported into a world filled with luxury and delight.”
By being a brand instantaneously recognisable by its colour, it is no surprise LVMH placed multiple bids to win the luxury brand. It will provide LVMH a secure spot in the luxury jewellery market.
The trademarked hue is the perfect balance between playful and feminine and although other corporations have become synonymous with symbols such as an apple, or the Nike swoosh, no one has ever harnessed the success of a colour more so than Tiffany & Co.
By Tasha Aloni
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