Tiffany Discovers Oasis in China Where Apple Is Stumbling
- CEO Bogliolo reports an ‘acceleration’ in demand inside China
- Still, international tourists from the nation are sitting out
Pedestrians walk past a Tiffany & Co. jewelry store in the Wangfujing shopping area of Beijing, China.
Photographer: Giulia Marchi/BloombergThis article is for subscribers only.
While Chinese shoppers may not be buying much Tiffany jewelry in New York City these days, it appears they’re happy to open their wallets in Beijing. That’s a trick Apple Inc. hasn’t been able to pull off.
Tiffany & Co., whose overall holiday sales fell flat, reported double-digit sales growth in mainland China in the final two months of the year -- a welcome sign for retailers after Apple spooked the market earlier this month by warning Chinese demand was waning.