Tiffany Greater China Group CEO Continues To Expand Shop

The first quarter of 2015 was the first sales decline in Tiffany in the past 5 years. The second quarter earnings report is no doubt that the situation is still deteriorating.

Previously, in the Fashionista report, the new series of TiffanyT, the first female design director of Tiffany in 2013, the TiffanyT series, is still selling well this year, and is likely to record the highest volume in the history of Tiffany, but it is also difficult for the whole brand to go upstream in the macroeconomic environment.

However, compared with the weakness in European and American markets, Tiffany has yet to feel the pressure of China's stock market turbulence and RMB depreciation.

In the conference call, Tiffany vice president MarkAaron said Tiffany grew at a two digit rate in the Chinese market, almost bringing the total sales volume in the Asia Pacific region as a whole.

In recent years, LV, Prada and so on.

Poor performance in Hongkong will accelerate the flow of Chinese tourists to other areas.

In response, Tiffany said that it would cater for Chinese consumers to travel and try to open stores in those places.

Of course, as Tiffany's second largest market after the US, China still has vast inland markets to tap.

It will be opened in Shanghai and Hangzhou.

The total number of stores in China has reached 30, about 10% of the total number of 304 global stores.

This ratio is not too high, because Chinese consumers contribute almost half of Tiffany's entire overseas market.

"We are concerned about the quality of the stores rather than the quantity. I do not want to open dozens or hundreds of stores a year.

This is not what we care about.

No matter which store we open, this shop must have a perfect interpretation of Tiffany's spirit and connotation regardless of its facilities, location and image.

Cathala said to the interface news.

Tiffany believes that the recession will not spread from Hongkong and Macao to the mainland.

"In terms of recent news in China, it is not possible to quantify the positive wealth effect from our sales growth and stock price rise in China in the past few years, so it is hard to predict any negative effects now."

Aaron told Wall Street analysts at the shareholders' conference call.

The direct impact of the stronger US dollar and the depreciation of the renminbi on the sales of luxury brands is that the price is becoming more expensive.

Since the beginning of this year, many luxury brands including Chanel and LV have implemented price cuts to ensure that China's sales are maintained under the change of exchange rate.

Unlike Chanel, Lv and other European luxury brands, Tiffany, the main jewellery Tiffany, does not include a tariff reduction list that has been implemented in China since June 1st.

However, because Tiffany has been implementing the global pparent price strategy, it has not used the regional differential pricing method in China. The price difference between China and abroad comes from tariffs only.

"No guest asked me.

Will prices be reduced? No one will think so, because they know the pparency of Tiffany prices in their hearts.

LaurentCathala, President of Tiffany Greater China group, said in an interview with the interface news.

On the other hand, as of August 30th, the exchange rate of RMB against the US dollar has risen to nearly 6.34.

This situation will probably lead to a decline in the percentage of Chinese tourists buying jewelry in the United States.

In the past, 8% of the company's sales came from stores in Fifth Avenue, New York. The frustration of tourism consumption will make Tiffany's performance continue to look ugly in the US market.