A Bed Full of Diamonds & Dilemmas

If you’re Latino like me, you’ve probably heard your parents or a family member say: “Cría fama y acuéstate a dormir.” Which for non-Latino readers means: Build a reputation, and you can lie down to sleep. For an individual, that reality might be accurate—and sometimes even haunt—you longer than you’d wish. Ooh, how much I wish it worked the same with brands. But I’ve come to learn it’s the complete opposite.

When it comes to brands, the saying sounds more like: Cría fama and don’t you dare go to sleep. You better get to work to keep up that fame; otherwise, your competitors are waiting anxiously to take a piece of your cake. Tiffany & Co. is a perfect case study of this truth.

In January 2021, after months of legal disputes and pandemic delays, LVMH finally completed its $15.8 billion acquisition of Tiffany. The deal was one of the most high-profile luxury shake-ups of the decade. But behind the headlines were signs of struggle. Tiffany had heritage and fame—the iconic blue box, decades of cultural cachet—but it was also facing declining relevance among younger consumers. The pandemic added pressure, creating volatility not only in luxury spending but also in negotiations themselves.

Understanding the Brand Beyond the Logo

Before going deeper, it’s worth asking: what is a brand, really? According to Kotler and Keller, a brand is more than a name or logo—it’s the set of associations, perceptions, and experiences that create value in customers’ minds. Or, as strategist Kevin Russell illustrated in a LinkedIn post with an image of a wooden apple shaped like Apple’s logo captioned “This is not a brand”—a logo is identity, not brand.

That distinction matters here: Tiffany’s blue box is an identity. Tiffany’s brand is the promise of timeless elegance, cultural relevance, and luxury. This difference helps explain why branding is more than heritage—it requires constant reinforcement.

Negotiation in Crisis

The pandemic revealed how fragile even iconic brands can be. As Yanyn San Luis noted in her LinkedIn post crisis often weakens negotiation skills, shifting focus to immediate survival instead of long-term value. That’s exactly what happened: LVMH attempted to back out of the deal, claiming Tiffany’s value had dropped. Tiffany fought back in court, not just to close the deal but to protect its brand equity—their hard-earned fame was the ultimate leverage. This episode reminds us that in branding, reputation is both shield and sword. For Tiffany, fame became its strongest currency.

Branding vs. Positioning

This episode also underscores the difference between branding and positioning. Positioning is about where you sit in the market: Tiffany as a luxury jeweler within LVMH’s portfolio. Branding is about who you are in people’s minds: the emotional resonance of elegance, the cultural presence of that blue box. Positioning secured Tiffany’s seat at the luxury table, but branding made it indispensable.

Yet heritage alone isn’t enough. Cría fama doesn’t mean you can rest forever. Competitors like Cartier and Bulgari are always awake, ready to capture attention. Branding must be a living system, not a museum piece. It requires constant reinforcement, innovation, and storytelling—which Tiffany clearly understands.

A Campaign to Reclaim the Fame

That was the mindset I brought to a recent Tiffany campaign I worked on. The goal wasn’t simply to advertise jewelry but to spotlight Tiffany’s enduring accomplishments—the things that keep the brand alive in culture.

For instance, Tiffany is the sole creator of the NFL’s Vince Lombardi Trophy, a fact often overlooked but deeply symbolic. It shows Tiffany is not only part of personal milestones (engagement rings) but also collective milestones (championship victories). By shining a light on achievements like this, the campaign reinforced Tiffany’s brand equity. The message was clear: our heritage is not behind us; it’s still unfolding.

The Wake-Up Call

For individuals, reputation may let you rest. For brands, it’s never that simple. Tiffany shows us that fame can defend you in negotiations, but only if it’s continually refreshed through branding. In global markets, reputation is not a bed to sleep in—it’s a foundation to keep building.

The lesson for marketers? Branding is more than identity. It’s an ongoing negotiation with culture, consumers, and competitors. You can’t sleep on it—because the moment you do, someone else is wide awake, ready to take your place.

Topic: Branding (Branding vs. Positioning, Creating Brand Equity)