Brazil is among Tiffany’s top ten markets, says global executive

On a visit to Brazil, the global CEO of American jewelry store Tiffany & Co., Anthony Ledru, said that the country already figures in the list of the “ten largest markets in terms of sales” of the brand globally.

The sales in the country are performing well, and the executive plans to remodel the three stores that the brand has in São Paulo.

Tiffany, founded in 1837 in New York, belongs to the French group LVMH, which leads the world luxury market. It was bought last year for US$15.8 billion.

On Thursday, August 25, at the Parigi restaurant in the Cidade Jardim shopping center, the executive said that the Knot and Tiffany T. jewelry lines are performing well in the Brazilian market. To expand sales, he bets on the recently launched Tiffany Lock, with pieces without gender.

The Knot, whose format presents a knot in the extension of rings, earrings, bracelets, and necklaces, was highlighted in the results report for the first half of this year. Compared to the same period in 2021, LVMH’s jewelry and watch divisions, including Bvlgari and Chaumet, grew 16%, with revenue of €4.9 billion (US$4.9 billion).

The French group LVMH, owner of luxury brands such as Louis Vuitton, Christian Dior, Tiffany, Givenchy, and TAG Heuer, reported revenues of €18.72 billion in the second quarter of 2022, up 27% year-on-year, reflecting an exceptionally high base of comparison.

With information from Valor Investe

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