Shannon Nelson Reports on the Luxury Market w/ Tiffany & Co. (Pierce Mattie Public Relations New York)

Luxury Public Relations:

Last quarter we heard many echo the sentiment that the economic downturn was finally coming to an end. While fourth quarter numbers began to come in, it appears there is indeed light at the end of the tunnel. At least that is the feeling I get after hearing the increase in sales that Tiffany & Co. experienced at the tail end of 2009. When luxury brands begin to see profits again, there is usually that collective sigh of relief heard throughout the country knowing that consumers are once again opening their wallets for non-essential items. (Although whose to say anything in those little blue boxes are not essential?)

Mark Aaron, Tiffany & Co.'s Vice President of Investor Relations, reports that the fine jewelry brand experienced better than expected sales results over the previous year. Where in December 2008 sales sharply declined by 29%, December of 2009 put them back on the upswing of being in the red by 14%. Internet and catalog sales increased 16% versus a 20% drop the year prior.

Tiffany & Co. currently operates 79 locations in the US, and aside from the upbeat 4th quarter earnings being a telling sign of an economy back on the uptick, they plan to expand in 2010.

I don't know about you, but I sure am ready to stop hording my money away nervous of what each month will bring and instead go out and treat myself to a gemstone (or two.)

Tiffany & Co. currently operates 79 locations in the US, and aside from the upbeat 4th quarter earnings being a telling sign of an economy back on the uptick, they plan to expand in 2010.

I don't know about you, but I sure am ready to stop hording my money away nervous of what each month will bring and instead go out and treat myself to a gemstone (or two.)

article written by Shannon Nelson/Corporate Communications Director @ Pierce Mattie Public Relations, Inc.