....sales in China are far exceeding our expectations, although the absolute numbers are too small yet to affect overall sales growth. During 2004 we opened new stores in Shanghai's City Plaza and in the Taipei Financial Center….we're very pleased with initial results in all those stores, and believe that the Asia-Pacific region and especially China, offers exciting and meaningful growth potential for many years to come.
Tiffany now has two stores in China, a market that we and other luxury brands believe can provide substantial growth over the long-term.
Quick thought: China-based, LJ International (ticker: JADE), which is engaged in designing, branding, marketing and distributing
a full range of jewelry, is banking on growth in the Chinese luxury brand market as well, having recently opened a number of retail stores on the Mainland. More here.
(Quotes are from the CCBN StreetEvents transcript.)