Tiffany to improve lustre in emerging Asia
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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.
Questions & Answers
Q.What proportion of Tiffany's total net sales are currently generated by Asian shoppers outside of Japan?
What proportion of Tiffany's total net sales are currently generated by Asian shoppers outside of Japan?
Asian shoppers, excluding Japan, now contribute 23 percent of Tiffany's total net sales. This highlights the growing importance of the emerging Asian market for the luxury jewellery brand.
Q.How much have Tiffany's jewellery sales increased over the last 15 years?
How much have Tiffany's jewellery sales increased over the last 15 years?
Tiffany's jewellery sales have more than doubled during the past 15 years. They now stand at USD4 billion, indicating significant growth for the world's second-largest jewellery retailer.
Q.Which country is Tiffany's largest sales generator within emerging Asia?
Which country is Tiffany's largest sales generator within emerging Asia?
China is currently Tiffany's biggest sales generator in emerging Asia. The company operates 24 stores there and plans to open three new outlets annually for the foreseeable future.
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