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Wednesday, 29th March 2006 (4412 views)

Tiffany is to re-jig its strategy in Japan in order to focus more on gold jewellery, msnbc reports.

The luxury US jeweller announced that it would shift its focus from silver jewellery to gold in its second-biggest market in order to offer consumers more of a choice when shopping for expensive items.

The news comes as Tiffany posted mixed sales results. Same-store sales were fairly strong, increasing by seven per cent on a constant currency basis, with Japan and other international markets posting sales above expectations. The figure for international sales showed a ten per cent rise.

However, it was noted that sales in the US rose more slowly than expected and net income fell to $140.3 million, translating to 97 cents per share.

Meanwhile, Tiffany launched its new collection designed by world-famous architect Frank Gehry on Sunday night.

One outstanding piece is a stunning white gold mesh collar with a scattering of diamonds and pearls.

 

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