Friday, 26 November 2010

Tiffany & Co.’s Profits Soar Coming Into the Holiday Season 26/11/10

Tiffany’s holiday season is set to be jolly, following Dow Jones reports of a 27 per cent increase in third quarter profit on Wednesday. Consumer confidence is back on the rise, international expansions, timed nicely with the end of the GFC and the return of prosperity, make music to Tiffany’s earrings.

The MO Down has commented on Tiffany’s recent growth, as well as an increase in the global demand for diamonds. Yes, you guessed it, expansion into China has been a major contributing factor to their recent boom. Tiffany has swiftly responded to Chinese demand for jewels and luxury goods, investing confidently in between 25 and 30 stores, set to open in the next three years (14 this financial year!). Looking at third quarter figures, this may even be a conservative investment. Tiffany & Co. is experiencing enormous popularity in China at the moment, and there seems to be a bit of a chicken or egg scenario. Which came first, their presence, or their popularity?

It's great to see Tiffany's figures shining as bright as its jewels. Further proof that luxury spending is recovering from economic downturn, and we look forward to watching other brands follow suit.

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Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,