As jewellery sales continue to soar at Tiffany, the luxury jeweller has announced new expansion plans.

The company is to open a new store in San Antonio, Texas, this year and is also looking to open two more stores in California and one in Florida.

Tiffany is looking to open around three to five stores in the year and this will be the first store in the San Antonio area for the company.

The Texas store will offer a range of popular and well-known Tiffany goods, including engagement diamonds and jewels in platinum settings, fashion jewellery, watches and accessories.

Already an established Tiffany clientele exists in the area and the latest opening will be a huge 6,000 square foot in size.

The multibillion-dollar firm now has over 100 stores and boutiques in the US and international markets.

It is thought the jeweller will be a huge success in the area and a former jewellery retailer from San Antonio claimed it was likely to be a success since people like to "do business with a well established name and people pay extra money to buy Tiffany".

Figures show that 38 per cent of platinum is now used for jewellery and demand for the precious metal is constantly increasing.