The Diamond Market Celebrates As Tiffany & Co. Expands – 17/2/10

As James E. Quinn, President of Tiffany & Co., visits Sydney and Melbourne this week, we can almost hear the luxury jewellery market expanding…

According to an article in The Australian, Quinn is in Australia this week to showcase a new range of jewellery designs by Paloma Picasso, daughter of Pablo Picasso.

He is also looking for locations for new Tiffany stores, describing Melbourne (where a new store opened in December 2009) as “superlative in terms of sales growth.” He also said, “Sydney can sustain a second Tiffany store.”

And it’s not just good news for Tiffany & Co., we read in Reuters that “diamond shares are set for a boost from a recovery in gem prices.” An analyst revealed the rough diamond market is recovering, with prices close to where they were prior to the downturn.

However, the diamond market recovery may also be linked back to Tiffany & Co. as they have just launched their latest bridal jewellery. After all, isn't a Tiffany & Co. diamond ring "timeless perfection forever after"...