September 14 (SeeNews) - Romanian jewellery chain Teilor said on Wednesday it has registered revenues of 124 million lei ($25.61 million/25.2 million euro) in the first half of 2022, an increase of 44% compared to the first six months of last year.
The number of products sold increased by an annual 13% during January-June, the company said in a press release.
Despite fluctuations of consumer behaviour in the first half of the year and more summer weddings contributed to the company's financial performance. The wedding ring remained Teilor's main jewellery item, totaling 23% of total sales compared to the like period last year.
"The positive evolution of Teilor’s sales in the first half of 2022 demonstrates a return to the pre-pandemic context, noting the customers’ appetite for luxury products, even if tempered by geopolitical and economic instability. This growth has also been supported by the expansion of the network in Romania over the
past year, which has given more customers access to our products," Teilor CEO Willy Dicu said.
"Nonetheless, we remain cautious about the potential growth in the second half of the year due to the negative impact of rampant inflation on consumers."
In 2022 the company opened three new stores in Romania, in the cities of Bucharest, Iasi and Piatra Neamt, and three more in Poland, the Czech Republic and Hungary. By the end of this
year, the company aims to open two more new stores, expanding its network to 64 stores.
In September, Teilor announced an investment of 2 million euro ($2.03 million) in a digital transformation process of its operations.
Teilor is an international chain of jewelry stores with 24 years of experience. The company owns 62 brick-and-mortar
stores across Romania, Poland, Hungary, Bulgaria, and the Czech Republic.
(1 euro=4.9216 lei)