Sound economic fundamentals, gradual wage acceleration, steady job growth and improving consumer sentiment are working in tandem for the luxury goods market. These factors certainly hold good for Tiffany & Co. TIF, which occupies a significant position in the world jewelry market due to its distinctive brand appeal.Tiffany remains focused on evolving its brand, enhancing omnichannel experience, solidifying position in core markets, increasing operating model efficiency and enriching overall organization. The company remains committed to enriching in-store experience and replenishing product portfolio.Focus on renewing product portfolio is evident from the launch of PAPER FLOWERS, which comprises solid collection in diamonds and platinum. The company is also looking at other revenue generating avenues, and this includes expansion of its watch business. The company also intends to expand distribution network by adding stores in both new and existing markets.The company introduced “build-your-own program” on its website under which customers are allowed to personalize their own charm bracelets. Further, Tiffany is allowing customers to personalize their ring.The company also renewed its licensing agreement with Luxottica Group — slated to expire on Dec 31, 2027 — for the development, production and global distribution of sunglasses and prescription frames under its brand. In a bid to expand its digital footprint in China, Tiffany will launch a virtual pop-up store on Tmall’s Luxury Pavilion.We believe Tiffany’s omni-channel platform, store expansion plans and tapping of new markets are likely to help propel the company’s top-line. The company is steadily introducing new jewelry designs, watch collection and fragrance, and additional jewelry SKUs. However, increase investments in various areas, may push SG&A costs up. Management expects SG&A expenses to increase at a rate higher than sales. As a result, operating margin may come under pressure.Nevertheless, management’s relentless endeavors have helped Tiffany to carve a out a niche among other luxury brands such as Movado MOV, Signet SIG and Fossil FOSL.Wall Street’s Next AmazonZacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.Click for details >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fossil Group, Inc. (FOSL): Free Stock Analysis Report Signet Jewelers Limited (SIG): Free Stock Analysis Report Tiffany & Co. (TIF): Free Stock Analysis Report Movado Group Inc. (MOV): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research