Tiffany & Co. announced Nov. 1 a major focus in China’s growing
luxury market, according to a news report.
The company plans to open 14 stores around world, four in
China, by the end its current fiscal year, which ends in January, according to
Tiffany expects China, the world’s second largest market for diamonds and gold, to surpass the United States as the biggest jewelry
market in the world over the next five to 10 years, the report said.
According to Forbes magazine’s latest
rich list, China has the world’s second-highest number of billionaires
after the United States.