US jeweller Tiffany has announced that its second quarter profit rose by 53 per cent this year.

Reporting "exceptionally strong growth" from its domestic sales in the US, the jeweller also revealed that its Japanese operations saw an increase in comparable sales of one per cent during the quarter, compared to a ten per cent fall during the same three months last year.

The company also stated that the increased price of platinum in the US had done nothing to deter buyers.

Despite the fact that platinum jewellery has seen an increase in price this year because of the precious metal's growing value, Tiffany's results show that customers have not been put off buying platinum jewellery, and the market continues to be a strong one.

Platinum is gaining popularity in a number of areas, including as wedding jewellery and with celebrities, and this has helped to ensure the metal remains in high demand by customers, regardless of the increased cost that goes with it.

Referring to the continued success of platinum, Mark Aaron, head of investor relations at Tiffany, commented: "Engagement jewellery is a major product category for us."


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