James E. Quinn, the company’s president, was in Australia last week, scouting locations for new Tiffany stores.
"It's definitely a market that still has more potential for growth," Quinn told The Sydney Morning Herald.
The Tiffany president was looking at Sydney for potential locations, with a view to opening more stores around Australia in the next few years.
"I think Sydney can sustain a second Tiffany store but the question to be resolved is where," he said.
Tiffany opened a new store at Chadstone in Melbourne in December - its fifth in Australia.
"The Melbourne market continues to be superlative in terms of sales growth," said Quinn, who also predicted better times ahead for retailers as the economy recovers.
"Certainly there is the sense that the worst is over and that there is a greater degree of confidence about the future," he said.
This confidence surely comes from a bumper end to 2009 for Tiffany & Co, with worldwide sales rising by 17 per cent to approximately $AU894 million.
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