Tiffany Asia Pacific Sales Growth

On January 12, Tiffany, the world's second largest luxury jewelry brand, released its sales report for the holiday consumption season as of December 31 last year. During the two months from November to December last year, Tiffany's global net sales were $1.02 billion, down 1% from the same period of the previous year. The Group announced that it would cut its annual sales forecast and make a preliminary plan for the new fiscal year.

Tiffany CEO Michael J. Kowalski He said that "the sales during the festival were disappointing, and the performance of various regions and product categories was far from the same".

From a regional perspective, the sales in the Asia Pacific region grew steadily, with a total sales of 210 million US dollars. Calculated at the constant exchange rate, the sales increased year on year 10%, the same store sales increased by 6% year on year. This is mainly due to the strong performance of the Chinese and Singapore markets. Japan's sales performance continued to be weak. Japan's macroeconomic policies affected consumer enthusiasm. Calculated at the constant exchange rate, the total sales volume was 113 million US dollars, down 8% year on year, and the same store sales fell by 8%. The United States is Tiffany The world's largest market, with a total sales of $544 million, at a constant exchange rate, barely equal to the same period in 2013, and the same store sales fell by 1% year on year. The total sales volume in Europe was US $133 million, with a year-on-year growth of 9% at the constant exchange rate and a year-on-year growth of 4% at the same store. other market In addition to Moscow, the total sales increased by 14% to US $24 million.

Michael J. Kowalski believes that although Tiffany The launch of the "T" series has brought strong sales growth to fashion metal products, but the performance of other categories is not satisfactory. Last November, in order to maintain the high-end market positioning of the brand, the company planned to continue to raise the price of its gold and silver jewelry products. This move has also brought about an increase in gross profit margin for the company. From the sales report of the festival consumption season, except for metal accessories, the market performance of the traditional product line is still lagging behind the overall sales performance.

In the face of sluggish growth, Tiffany began to make adjustments to improve its market share as early as last year. It is understood that the company plans to strengthen market publicity, increase sales expenditure, and plan to open 10 new stores in fiscal 2014, including 4 in the United States, 2 in the Asia Pacific region, 2 in Japan, 1 in Europe and 1 in Russia, and close 1 store in the United States and the United Arab Emirates. According to the company's sales briefing data as of December 31, 2014, Tiffany has 296 stores worldwide, 123 in the United States, 73 in the Asia Pacific region, 56 in Japan and 38 in Europe. In the same period of the previous year, there were 286 stores worldwide, 121 in the United States, 69 in the Asia Pacific region, 54 in Japan and 37 in Europe. Four new stores were added in the Asia Pacific region, which means that the Asia Pacific region is the only market where the company has more stores than planned. This confirms the importance of the Asia Pacific market, which benefited from the strong performance of the Chinese and Singapore markets and led to a 10% increase in total sales from November to December last year, in Tiffany.