Tiffany Is Still Sticking To The Chinese Market In The Bad Jewelry Market.

In the early June,

The two banquet hall of the Grand Hotel in Beijing has been set up for a week. From 12 noon to 8 o'clock every day, it sells its latest high-end jewelry series "the phantom of change" to VIP customers.

The prices of the single products in this series range from several million to tens of millions, but according to the on-site salesmen, they sell well.

Just a week ago, Tiffany just released its first quarter 2016 earnings report.

Its same store sales in the world have fallen by an average of 9%, down six consecutive quarters, while operating income has declined 7.4% and profits plunged 16.7%, all below analysts' forecasts.

Research public

CEO Neil Saunders told Reuters that "Tiffany has little negative evaluation in younger user groups, but they think Tiffany is a luxury for the previous generation and another era, and it is tired of hearing."

Other luxury jewellery brands also performed in general: Hongkong Zhou Dafu fell 26% overall retail sales and same store sales in March.

Cartire and Van Cleef & Arpels (Cartier Van) also experienced varying degrees of decline.

Tiffany's official earnings report is attributed to the downturn in retail tourism.

Because of the decrease of tourists, Europe, North America, and Asia outside Japan have been greatly affected.

The slide rate is especially fast.

But there is a third point of view that the main problem of Tiffany and many traditional luxury jewelry brands is losing their influence in the millennial generation.

The T series, which was popular among young people, did not produce halo effect and failed to boost sales growth of other categories.