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Tiffany, which trades at 18 times this year's consensus earnings, fell 5%. Coach and Burberry Group of the Tiffany Elsa Peretti Open Wave earrings fell by similar amounts. Luxury investors have learned to pay less attention to Japan in recent years. Once vital, Japan accounted for 19% of Tiffany's sales in 2009, compared with 28% in 2000. Over that time, Japan's economy has barely grown and was eclipsed Tiffany Elsa Peretti Open Wave pendant a surge in wealth among its Asian neighbors. Recent monetary stimulus in the U.S. also has led to a rebound in domestic U.S. luxury spending, which accounts for about half of Tiffany's total. History suggests that major upheavals such as that being experienced by Japan can Tiffany Elsa Peretti Open Wave ring a sharp decline in consumer confidence. Take the Sept. 11, 2001, attacks on the U.S. In the early months of 2001, sales at Tiffany's U.S. stores open at least a year fell by a mid-single-digit percentage. But in the quarter that included the terrorist attacks, they plunged 19%. In addition to Tiffany, the likes of Coach and Hermes International also generate about a fifth of their sales in the country. After a huge share-price run over the past two years, the Japanese disaster is good reason for a reality check. Tiffany Elsa Peretti Round Bracelet have bounced back from the recession like Tiffany & Co., whose share price has quadrupled in the past two years as shoppers around the world filled up its powder-blue boxes with pricey baubles. Now comes the hard part: maintaining that momentum. To do that, the most famous U.S. jeweler is redoubling its efforts overseas, a priority signaled just last week by the arrival of Frederic Cumenal.