Sales at Tiffany & Co. rose 2% during the holiday season as the US jeweler benefited from sharp growth in China and a surge in online demand.Revenue in the Asia-Pacific region jumped 20% year on year in November and December, outweighing a 5% decline in the Americas, the company reported.
RAPAPORT. The Botswana government has allowed Lucara Diamond Corp. to mine at the Karowe deposit until 2046, enabling it to pursue its plans to launch underground operations.
The country’s minister of mineral resources, green technology and energy security approved Lucara’s application.
E-commerce spending in the US grew to a record high during the holiday season, with jewelry boasting a strong performance, according to Adobe Analytics.Revenues for the category rose 66% in November and December compared to the same period of 2019, Adobe said Wednesday. Total online spending.
RAPAPORT. Tiffany & Co. will offer a necklace featuring an 80-carat diamond, expected to be its most expensive piece ever, at the reopening of its New York Fifth Avenue flagship store next year.
The oval-cut, D-color, internally flawless stone, which the jeweler sourced from Botswana and will set in-house in New York, is at the center of the piece, Tiffany said Tuesday. It is also the largest diamond the company has ever offered. Only the 128.54-carat, yellow Tiffany Diamond worn by both Audrey Hepburn and Lady Gaga is larger, and that piece is not for sale.
The jewel is a reimagined version of a Tiffany necklace created in 1939 for the World’s Fair, which features an aquamarine in place of the diamond. The unveiling of that piece set the stage for the original opening of the flagship store on the corner of 57th Street and Fifth Avenue in 1940.
Sales at Tiffany & Co. rose 2% during the holiday season as the US jeweler benefited from sharp growth in China and a surge in online demand.Revenue in the Asia-Pacific region jumped 20% year on year in November and December, outweighing a 5% decline in the Americas, the company reported.