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Tiffany Plans More China Stores as Tourist Spending Falls

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Tiffany CEO Bogliogo discusses its exhibition in Shanghai, the trade war, and the company’s strategy for China.(Source: Bloomberg)

Tiffany & Co. is planning to open more stores in mainland China as the weak yuan deters Chinese consumers from spending overseas and they shift their luxury buying back home.

Currency fluctuations have had “an influence on the intention of Chinese to buy abroad,” CEO Alessandro Bogliogo said in an interview with Bloomberg Television in Shanghai on Thursday. “Conversely, we have seen a big increase in sales in mainland China.”