NEW YORK : As Tiffany & Co. celebrates its freshly refurbished New York City flagship, 'The Landmark,' behind the scenes, top executives are also focused on a retail overhaul further afield - in China, its second biggest market.'There is huge opportunity for Tiffany in China,' Tiffany & Co. Chief Executiv
NEW YORK : As Tiffany & Co. celebrates its freshly refurbished New York City flagship,"The Landmark," behind the scenes, top executives are also focused on a retail overhaul further afield - in China, its second biggest market.
Tiffany has been working over the past two years to nail down top locations in the country, with three or four new spaces lined up, including in the Sanlitun fashionable shopping area in Beijing. Other stores in the existing network will be relocated and expanded, the executive said. At Tiffany, the focus on China comes amid a brand reset aimed at broadening its client base and moving upmarket, under the direction of LVMH, which purchased the American jeweler in 2021 for $16 billion.
Sales at bigger rival Cartier came in at 8.48 billion euros last year and are seen reaching 12.2 billion in 2025, according to estimates by HSBC.
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