WATCHES & JEWELRY RECOVERY IN JEWELRY AND WATCH REVENUE
Tiffany & Co.
Revenue €4,909m +16% vs H1 2021(1)
Profit from recurring operations €987m +26% vs H1 2021
Operating margin
20.
(1) With comparable structure and constant exchange rates.
The financial statements as of June 30, 2021 have been restated to reflect the purchase price allocation of Tiffany.
Tiffany & Co.
The Watches & Jewelry business achieved organic revenue growth of 16% in the first half of 2022. Profit from recurring operations was up 26%.
In jewelry, Tiffany & Co. enjoyed an excellent half-year, still driven by strong momentum in the United States. The new Knot collection notably benefited from sustained demand, as did the High Jewelry collection Blue Book, which saw record sales. A pop-up store opened on Avenue Montaigne in Paris, offering an immersive experience around the theme of the love story between Paris and Tiffany, while the Saatchi Gallery in London hosted the "Vision & Virtuosity" exhibition, celebrating the Maison’s 185th anniversary. At Bulgari, the Serpenti and B.zero1 Classic lines were important growth drivers, while new records were set by the recently launched High Jewelry and High Watchmaking collection Eden: The Garden of Wonders and its watch lines, including the new Octo Finissimo Ultra watch. Chaumet and Fred performed very well over the first half. Chaumet's "Végétal" exhibition at the Palais des Beaux-Arts in Paris has been a great success. Several watchmaking innovations from TAG Heuer, Hublot and Zenith were unveiled at the Watches & Wonders Geneva summit.