American jeweller Tiffany & Co has seen its first quarter net earnings rise 50 per cent to $126 million, with the highest gains in Asia.

Worldwide net sales rose 13 per cent to $1 billion, boosted by strong demand in Asia Pacific, where total sales rose 17 per cent to $261 million. Sales in Japan surged 20 per cent to $174 million.

Demand was also high in Europe and the US, where sales increased nine per cent to $101 million and eight per cent to $439 million, respectively.

“Strength in fine and statement jewellery sales continued, while sales of our new or expanded jewellery collections accelerated, led by our Atlas collection,” CEO Michael Kowalski said.

Bullish about its prospects worldwide, Tiffany & Co plans to add 13 company-operated stores including four in the Americas, five in Asia Pacific, two in Japan, and one each in Europe and Russia this year. But, it will also close stores four stores in the US, Asia Pacific, Japan and the UAE.

Tiffany expects a full year net income of $4.15 to $4.25 per share.