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On Tuesday 5 January, Tiffany Jewellery unveiled a 2% increase in sales figures for the period from 1 November to 31 December, due to a considerable increase in online purchases and a jump in sales in mainland China.
Just before being incorporated into LVMH, the jewellery set a sales record for the Christmas holidays.
“In the midst of a global pandemic and its dynamic impacts, these record preliminary holiday sales results, following a strong third quarter, reflect the successful convergence of our multi-year sales strategies for mainland China (more than 50% increase over the previous year), e-commerce (more than 80% increase over the previous year), higher average unit retail prices and accelerated product innovation,” said Managing Director Alessandro Bogliolo.
While online sales jumped by more than 80% over the period, net sales in the Asia-Pacific region increased by 20% and in China by more than 50%, they decreased in Europe by 8% and in America by 5%.
“During this period, we have seen the Chinese continental market continue to drive our overall sales growth”, continued the group’s managing director, Alessandro Bogliolo.
Holiday sales thus enabled the famous jewellery house to further increase the figures for the third quarter, which were already higher than expected. In fact, net profits for the third quarter had increased by 52% to reach $119 million and sales had decreased by 1% to reach $1 billion. The forecast was $980.71 million, according to Refinitiv’s IBES data.
The jewellery house has thus shone one last time independently, since it has just been bought by LVMH. This sales record can only confirm the latter in its acquisition.
Read also > BETTER THAN EXPECTED QUATERLY RESULTS FOR TIFFANY & CO
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On Tuesday 5 January, Tiffany Jewellery unveiled a 2% increase in sales figures for the period from 1 November to 31 December, due to a considerable increase in online purchases and a jump in sales in mainland China.
Just before being incorporated into LVMH, the jewellery set a sales record for the Christmas holidays.
“In the midst of a global pandemic and its dynamic impacts, these record preliminary holiday sales results, following a strong third quarter, reflect the successful convergence of our multi-year sales strategies for mainland China (more than 50% increase over the previous year), e-commerce (more than 80% increase over the previous year), higher average unit retail prices and accelerated product innovation,” said Managing Director Alessandro Bogliolo.
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On Tuesday 5 January, Tiffany Jewellery unveiled a 2% increase in sales figures for the period from 1 November to 31 December, due to a considerable increase in online purchases and a jump in sales in mainland China.
Just before being incorporated into LVMH, the jewellery set a sales record for the Christmas holidays.
“In the midst of a global pandemic and its dynamic impacts, these record preliminary holiday sales results, following a strong third quarter, reflect the successful convergence of our multi-year sales strategies for mainland China (more than 50% increase over the previous year), e-commerce (more than 80% increase over the previous year), higher average unit retail prices and accelerated product innovation,” said Managing Director Alessandro Bogliolo.
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