Tiffany & Co., the world’s second largest jewellery retailer by sales aims to improve its lustre in emerging Asia, where demand for gold and gems appears to be insatiable.
While Americans and Japanese remain the high-end brand’s biggest customers, their share of sales has fallen to a combined 62 percent, from over 80 percent a decade ago. Asian shoppers, excluding Japan, now account for 23 percent of Tiffany’s total net sales. The company’s jewellery sales have more than doubled to USD4 billion over the past 15 years.
China, where the Nasdaq-listed firm owns 24 stores and plans to open three a year for the foreseeable future, is the biggest sales generator. But Tiffany is not forsaking Japan.
