Cookie company Tiff's Treats branches into gold
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Nothing says "I love you" like cookies and gold. Photo: Courtesy of Tiff's Treats
Austin cookie delivery firm Tiff's Treats is branching out from chocolate chips to gold bullion.
Why it matters: Riding a wave of global interest in the precious metal, the new initiative is a way for the cookie delivery company to expand its appeal in this Amazon-fueled age of immediate gratification.
How it works: Instead of paying about $21 for a box of a dozen chocolate chip cookies to be delivered to your friend, coworker or loved one, you can now pay roughly $2,500 for what the company deems its "bullion bundle" — a box of cookies plus a one-ounce, 24-karat bar of gold.
- The price of the package fluctuates with the daily gyrations of gold.
Context: Gold is back.
- Costco started selling gold bars last year.
- Gold has been reaching record heights amid a broad commodities rally, international tensions and moves by global central banks.
- The People's Bank of China (PBOC), has been steadily beefing up its gold reserves for more than a year, partly in reaction to rising geopolitical concerns.
Between the lines: The metal's rarity and physical properties give it its inherent value besides being a shiny, coveted metal.
- Bullion is also used by investors as a hedge against market and global risk.
What they're saying: Tiff's sees delivering gold, especially during graduation season, as "rounding out the gifting experience," co-founder and chief creative officer Tiffany Chen tells Axios.
- "A lot of consumers don't know how to buy gold and this is an easy way to get their warm cookies on demand and really elevate the gift."
- "And it's got that investment piece for graduation season," she continued.
Between the lines: Tiff's, which has to compete with other on-demand services like Amazon and, now, expanding grocery delivery options, is trying to make its cookies feel more special.
- In partnership with Austin-based Kendra Scott, it's selling a necklace that says "Mom," for example.
- And it has bundled Austin-based Yeti cups with its cookies around Father's Day.
By the numbers: Tiff's, which operates across Texas and in Atlanta, Nashville, Charlotte, Denver, Raleigh and Tampa, has 1,700 employees.
- Now in its 25th year, the company estimates it has made more than 300 million cookies.
Yes, but: Tiff's locations and drivers do not carry gold. Instead you get a certificate with your cookies and shortly thereafter a third party delivers the bar of gold.
The bottom line: "It's about gifting someone something super special that you didn't have to plan super far in advance and leaves the recipient feeling loved," Chen says.