Icon: enlarge
Tiffany shop in Paris (archive picture): 80 percent more online trade
Photo:
STEPHANE DE SAKUTIN / AFP
The luxury company Tiffany made record sales in the Christmas business.
In a year-on-year comparison, the increase in the period from November 1 to December 31 is around two percent.
The growth in China increased by more than 50 percent, while sales in Europe fell by 8 and in North and South America by 5 percent, it said.
The New York-based jeweler announced that in the Asia-Pacific region, net sales grew by a total of 20 percent in the two months compared to the same period in 2019.
Tiffany also benefited greatly from the sharp rise in online trade in the corona pandemic.
Sales over the Internet at the end of the year increased by more than 80 percent compared to the previous year.
Perhaps some also see the jewelry as an investment in times of low interest rates and the uncertainty caused by the corona crisis.
Tiffany and the French luxury goods group LVMH had finally agreed on a takeover after long negotiations.
LVMH is now paying a little less for Tiffany than initially agreed: a total of around $ 15.8 billion, which is $ 425 million less than was offered at the beginning of last year ($ 131.50 instead of $ 135 per Tiffany share).
The agreement ends a dispute between the two companies that broke out after LVMH's initial joint takeover of Tiffany.
The French wanted to stop the takeover surprisingly, both companies covered themselves with allegations.
Tiffany, however, insisted on keeping the agreement.
The ongoing legal disputes in a US court in Delaware should be settled.
The jeweler Tiffany, founded 183 years ago, is known worldwide for its turquoise-colored cardboard boxes and for the Hollywood film "Breakfast at Tiffany's".
The LVMH group, led by Bernard Arnault, owns more than 70 luxury brands, including Louis Vuitton, Moët Chandon and Bulgari, the acquisition would be the most expensive deal in LVMH's history.
Icon: The mirror
apr / Reuters / AP
