The world’s largest jewelry maker wants to get its products out of ultra-luxurious packaging.
In a move that is sure to spark some controversy, Tiffany & Hermann announced it is to phase out its super-premium jewelry in favor of more affordable offerings.
Hermann said its Ultra Luxury collection of jewelry and accessories, now in its fifth year, will be sold at a price range from $4,500 to $14,000, depending on the size of the piece.
The company has long been known for its high-end jewelry, but its latest move is an attempt to push its products into the realm of everyday wear.
The company said its newest line, the Ultra Luxure Collection, will include new pieces that are more affordable.
It also said the new line will be more “personal” with its designs, including smaller, handcrafted items.
This is Tiffany &ing; Hermanns first foray into a low-cost market.
It is expected to offer the new Ultra Luxured collection for around $8,500, according to a statement from the company.
As of now, the new collection will be available at a retail price of $14.95 for a necklace or $9,500 for a ring.
The new line is expected be available from August.
“The Ultra Luxuriously collection will continue to be sold exclusively through Tiffany <d Hermann and will be in limited quantities,” the statement said.
While the new ultra-premier line may not be as high-quality as some of the other high-priced items in the new range, the line’s focus is certainly on luxury, said Lisa Mott, senior director of retail marketing for the jewelry chain.
“It’s going to be about creating more beautiful jewelry that will make you feel special,” she said.
Tiffon &.; Hermann also said it would also be selling the Ultra Beauty line, which includes more affordable pieces, in the coming months.