Tiffany forges ahead with expansion

Jewellery retailer Tiffany & Co plans further worldwide expansion including in Asia Pacific after seeing sales rise.

Tiffany & Co says it will add 13 new company-operated stores globally, five in Asia Pacific and two in Japan.

The retailer recorded a worldwide net sales increase of six per cent to $4 billion in the year to January 31, 2014, with Asia Pacific sales increased 17 per cent to $945 million.

“Sales and operating earnings rose to record levels. Sales growth was led by fine and statement jewellery, new or expanded jewellery collections including the Atlas, Ziegfeld and Harmony collections and continuing strength in our iconic jewellery designs,” said CEO Michael Kowalski.

In the Americas and Europe, sales increased five per cent and nine per cent during the 12 months.

The company’s stores increased to 289 after adding 14 last year.

You have 7 articles remaining. Unlock 15 free articles a month, it’s free.