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WORLD WATCH

International Business / The Pacific

February 15, 1996

Tiffany to Open Store in Tokyo: The jeweler and luxury retailer said it will open its first stand-alone store in Japan in one of the world's most expensive locations, Tokyo's Ginza Street. Tiffany & Co. said the 7,700-square-foot store in the Iwasaki Building will open in May in partnership with its longtime retail partner, Mitsukoshi Ltd. New York-based Tiffany said the location will be the flagship of its retailing operations in Japan and is expected to bring in more than a quarter of the company's total sales. Tiffany's earnings have been rising in recent months--even as most retailers have suffered--amid a renewed interest in luxury goods. The retailer's third-quarter profit soared 33% to $6.3 million, or 39 cents a share, from $4.7 million, or 30 cents a share, a year earlier.

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