Net-a-porter to carry Tiffany's, leading to 1) does Tiffany's suck? 2)Living in flyover country

[Mr. Moo]

We about to get a spin-off thread, y'all

 

[nicelynice]



Yeah, but some 150-200$ jeans are much cheaper than 5-10k rings, right?

Yeah completely diff and I'm just making a couple false comparisons!! I just think relatively speaking, $19 an hour in a place like Kentucky for a tradesperson doesn't seem too bad. Our web developer makes less than that in Tokyo!!

 

[Bam!ChairDance]



I'll have to disagree. They mass produce everything they make in factories and only 50% of what they make is actually made by them, the rest is outsourced to even larger jewelry making factories. Let's not even get into the fact that nearly all their solid gold jewelry is gold plated (over the gold). EDIT: One more.. they send their jewelry which requires a stone setting to a friend of mine who's a master setter, he sets the jewel, sends it back to them, they photograph it for their catalog/site, then have the pieces mass produced in a factory.

You say we've got nothing in common

I mean... I'm pretty sure a giant machine isn't setting their 5 ct. diamond rings. So if by "mass produced in a factory" you mean there are jewelers who all happen to be working inside of a nice, bright, air-conditioned room, in good working conditions, with employee benefits and workers compensation coverage, then yes - they are mass produced. Much like Patek Phillippe is mass produced.

No common ground to start from

There is a huge difference between jewelers and watchmakers. Also, their "jewelers" at their US factories which they own are paid about $19 an hour (which is far less than what any of my employees make working retail), i'd say that's quite sad considering the margins on their jewelry.

We're falling apart.

I am comparing production methods in two related industries. What is the alternative that would make their jewelry better? An old man by himself in a small room making all of their jewelry?

You say the world has come between us

In the style of Tiffany's there are quite a few options, just go into any decent high end jewelry store and you're sure to see many of the same designs (common designs, not Tiffany originals). People buy Tiffany's jewelry because of the brand recognition, even the executives of the company have stated this in the press. A little transparency would be good and a pay for their employees which matches the retail price of the product they're selling. They're the classic corporation, it's all about take take take. Their newest factory in Kentucky.. they got 3 million dollars of tax breaks to open there so they can pay their jewelers $18.50 an hour to make their jewelry, all for a company that shows over $65,000,000 in profits a year.

Our lives have come between us

Maybe I'm super out of touch, but $19 an hour to make Jewelry in Kentucky in a nice air-conditioned building seems pretty good. The people sewing your $3000 Rick Owens jackets sure as hell aren't making that (or more related to Kiya, the people making denim in Okayama, maybe pretty relatable to the Kentucky of Japan, are making closer to $8 an hour)

But I know you just don't care.

We about to get a spin-off thread, y'all

AND I SAID,

 

[Gruff]

Good thing diamonds are intrinsically worthless and everybody saw through that Tiffany's jewelry scam. Must be 65 mil a year worth of silver plated napkin rings, amirite?

 

[flowcharts]

For a little perspective, the median per capita income in Kentucky is just over $23,000. $19/hr = $39.5k. As someone who lives in the Midwest (though not Kentucky), the influx of decent paying factories/large-scale employment opportunities is wonderful.

 

[LA Guy]

Re Tiffany's:

Branding is obviously important, and contrary to what a lot of people like to contend, it has real value. Otherwise, trademarks would not be so important. You can obviously disagree that it is important to you, but I don't begrudge Tiffany's for being successful in promoting its brand. If you want corporate targets, Tiffany is not an obvious one.

From the vantage point of someone living in San Francisco, or LA, or some other large city, $19/hour is barely making it. However, for much of this country, it's pretty damn good. And that you get to work in a modern facility, and probably get benefits, even better. To put things into perspective, the national median salary is somewhere around $33K/a, and the average HHI for a family of 4 is $58K. While this is not high, it's not unlivable in much of the country either. Outside of areas where there is a concentration of universities and skilled workers (so, the Moscow Pullman area, and then Spokane), where the housing prices are slightly above the national average of $250K for a 2-3 bedroom house, there are plenty of houses for $100-120K in this area. On a 30-year fixed mortgage, at current interest rates, the average mortgage payment would be about $600-700/month. Let's allow for housing insurance for low down payments, and all of that, and say that the average mortgage is $900. That is an annual housing cost of $108K, which puts the worker at $19/hour well above the critical housing level, and frankly, living pretty comfortably.

 

[LA Guy]

We about to get a spin-off thread, y'all

Damn straight.

 

[ppllzz]



Re Tiffany's:

Branding is obviously important, and contrary to what a lot of people like to contend, it has real value.  Otherwise, trademarks would not be so important.  You can obviously disagree that it is important to you, but I don't begrudge Tiffany's for being successful in promoting its brand.  If you want corporate targets, Tiffany is not an obvious one.  

From the vantage point of someone living in San Francisco, or LA, or some other large city, $19/hour is barely making it.  However, for much of this country, it's pretty damn good.  And that you get to work in a modern facility, and probably get benefits, even better.  To put things into perspective, the national median salary is somewhere around $33K/a, and the average HHI for a family of 4 is $58K.  While this is not high, it's not unlivable in much of the country either.  Outside of areas where there is a concentration of universities and skilled workers (so, the Moscow Pullman area, and then Spokane), where the housing prices are slightly above the national average of $250K for a 2-3 bedroom house, there are plenty of houses for $100-120K in this area.  On a 30-year fixed mortgage, at current interest rates, the average mortgage payment would be about $600-700/month.  Let's allow for housing insurance for low down payments, and all of that, and say that the average mortgage is $900.  That is an annual housing cost of $108K, which puts the worker at $19/hour well above the critical housing level, and frankly, living pretty comfortably.

wait wait wait wait i only make 200k but i am definitely middle class so does that mean the median person is very poor?

 

[LA Guy]

wait wait wait wait i only make 200k but i am definitely middle class so does that mean the median person is very poor?

Ah, the Styleforum humblebrag. I always like this. Especially when you can't quite tell if it is a joke or not.

 

[Find Finn]

200k would make you just shy of a 1% here (officially).

 

[cyc wid it]

https://aboutschwab.com/images/uploads/inline/Charles_Schwab_SF_Bay_Area_Survey_Full_Findings.pdf

To be considered wealthy in the Bay Area you need a net worth of at least $6 million. To be comfortable you need at least $1 million. Sounds about right.

 

[Fuuma]



https://aboutschwab.com/images/uploads/inline/Charles_Schwab_SF_Bay_Area_Survey_Full_Findings.pdf

To be considered wealthy in the Bay Area you need a net worth of at least $6 million. To be comfortable you need at least $1 million. Sounds about right.

This is a survey not some economic analysis....

On styleforum 500K is a fallback job.

 

[ppllzz]



https://aboutschwab.com/images/uploads/inline/Charles_Schwab_SF_Bay_Area_Survey_Full_Findings.pdf

To be considered wealthy in the Bay Area you need a net worth of at least $6 million. To be comfortable you need at least $1 million. Sounds about right.

seems low to me--how can you be truly comfortable without a maybach and a driver, a private jet at your beck and call, and a penthouse with an ocean view?

 

[LA Guy]

This is a survey not some economic analysis....

On styleforum 500K is a fallback job.

You are poor if you work for money rather than making money work for you.

 

[LA Guy]

seems low to me--how can you be truly comfortable without a maybach and a driver, a private jet at your beck and call, and a penthouse with an ocean view?

I don't like having people under me. So I bought the building. Of course, I only use the penthouse. That and the helicopter on the roof.