Romanian jewellery retailer Teilor reports record sales in the first half
Romanian luxury jewellery retail chain Teilor reported record sales of RON 88 million in the first six months of 2021. This represents a 116% increase in turnover compared to 2020 and a 46% increase compared to pre-pandemic levels from 2019.
The company estimates sales of RON 230 million for the whole year, supported by “the growing appetite of consumers for fine jewellery and an increase in the sale of engagement rings in the third quarter.”
“For 2021, we aim for the best results in our history, fuelled by the consolidation of the Teilor brand on the Romanian market, international expansion, and significant investments in ecommerce,” said Willy Dicu, Teilor CEO.
In H1 2021, the retailer saw a significant rise in sales in all product categories. The increases were driven primarily by a 129% surge in demand for diamond jewellery compared to the same period of last year. The biggest demand was registered for engagement rings, as well as high-end diamond-encrusted necklaces, earrings, and bracelets.
The sales of gold jewellery went up by 85% YoY, led by the sales of wedding bands. At the same time, gold bars registered a record increase in demand of 399% YoY.
The first half of 2021 also brought significant increases for the international stores of Teilor, as sales in Bulgaria and Poland grew 176%, reaching RON 1.8 million. The company has four stores abroad – three in Sofia, Bulgaria and one in Warsaw, Poland, and plans to further accelerate international expansion by entering the Hungarian market in the second half of 2021.
The retailer expects its sales to increase by 64% in 2021 vs 2020, targeting a turnover of RON 230 million for the whole year. “The increase in sales will be driven primarily by a growing demand for high-end jewellery and an increase in the sale of engagement rings compared to 2020. Historically, Teilor generated more than a quarter of its annual sales between July and September due to an uptake in engagements during the summer period,” the company said.
Teilor was established in 1998 by entrepreneur Florin Enache and currently has over 400 employees across the three markets.
(Photo source: the company)