Tiffany (TIF) may be a household name in the U.S. but many abroad don’t understand what a little, blue box from the jeweler means.
The American company is turning its focus to China, according to The Wall Street Journal. CEO Michael Kowalski said that the luxury jewelry retailer is planning on investing more in China than in any other market in the world. He said that the Tiffany blue will be a prominent part of stores because the way you present a brand affects how consumers react to it.
Kowalski expects sales to grow by 10% in China with the company’s initiative. He also hopes that Chinese consumers will start buying more wedding rings — a tradition that is not as common in China as in the U.S. Tiffany’s expansion plan also includes VIP breakfasts for affluent Chinese consumers to lure them into buying a pricey piece of jewelry.
Kowalski declined to comment on the financial commitment of the company’s marketing plan in China.