Tiffany&Co. Has Risen 10% In China, But The Luxury Industry Has Opened Its Own Era.

Yesterday, Tiffany opened a 10% price increase across the United States.

Reporter survey found that the Chinese market is also rising in price list.

The luxury industry generally cut prices to save themselves, but high-end jewellery Tiffany&Co. (Tiffany) did the opposite.

Yesterday, reporters in the Tiffany&Co. Oriental Plaza counters learned that Beijing has indeed started to raise prices, or around 10%, due to normal annual price increases, including jewelry, watches, accessories and most of the other commodities; Tiffany&Co. Wangfujing IN88 counters said that the price increase involves China and the United States, and online and offline synchronization price increases.

She also said that if the deposit was not paid before, even if the commodity was ordered, it should be purchased at the price after the price rise.

It is understood that the original price of the key chain Return to Tiffany with a unique number is 125 US dollars, about 800 yuan, and 880 yuan after the price rise; the original price of the Tiffany Keys product is 225 dollars, or about 1441 yuan, and 1585 yuan after the price rise.

It is customary for luxury goods to rise year by year, but now, when the industry is in the doldrums, many luxury brands have launched the strategy of reducing prices in China.

As to why Tiffany&Co. is doing the opposite, Zhou Ting, director of the luxury goods field and President of the Institute of wealth quality, said that the move is psychological and tactical, with the aim of giving consumers a sense of urgency and buying them before further price increases, and creating an impression of appreciation.

At the same time, the devaluation of RMB has a great influence on diamond and jewelry. The jewelry brand needs to use the price to prove its brand value.

As early as March this year, Tiffany&Co. had a price rise.

Zhou Ting believes that there are three reasons for Tiffany's popularity in the Asia Pacific region: first, the story is well spoken; two, the price is relatively low; the three is the flagship of diamonds, which caters to the Chinese demand for preservation and appreciation.

Tiffany&Co. performance declined, but fortunately Asian market performance was good.

According to the financial report, sales in Tiffany China, Australia and Singapore increased in the second quarter of April 30th, while the same store sales in the Asia Pacific region increased by 2%. In the first quarter, Tiffany's global sales increased by 3%, driven by Europe and the Asia Pacific region.