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12, February 2009
On February 10th, Tiffany & Co. announced its entire Japanese product line would be discounted an average of 9% starting February 11th.
The strength of the Japanese yen is cited as the reason behind the price cuts. Due to the strengthening of the Japanese Yen versus the US Dollar, Tiffany Japan is able to acquire products at reduced yen prices and has decided to pass savings on to Japanese consumers.
Last November, Tiffany & Co. discounted prices by 6% in the US. Despite this move, sales in America volume in the US remains significantly lower than last year. In Japan, however, sales volume is up 5% compared to 1 year earlier.
February 2, 2009 Yahoo Japan News