Luxury jeweller and silversmith Tiffany & Co is looking for expansion opportunities in Shanghai and Hong Kong, according to Asia Pacific vice-president Darren Chen.
He said the company planned to open one or two more stores in Hong Kong as it remained the strongest market in the region.
At present, Tiffany has 126 stores worldwide, of which 45 are in Japan and 21 in other parts of Asia. It has five stores in Hong Kong.
Sales from Asia inclusive of Japan - its largest international market - accounted for 45 per cent of the group's total, Mr Chen said.
Although the luxury retail sector had been badly hurt by the global economic recession, the impact on Tiffany was insignificant, he said.
Last year, Tiffany's net earnings fell 9 per cent to US$173.58 million.
'We find customers still shop in our shops as our products, unlike fashion, can last forever and they see the great value in it,' he said.