Tiffany becomes Arab? The great American brand is increasingly liked by the Emir of Qatar, Hamad bin Khalifa al Thani. And not only because rings and earrings from the American brand are appreciated by the wife of the head of the small (but rich) state of the Arabian peninsula, Sheikha Mozah bint Nasser Al Missned. Tiffany is also popular as an investment, so much so that the sovereign fund Qatar Investment Authority (Qia), a company directly headed by the royal family, a month ago increased its shareholding in Tiffany to 11.72% with the acquisition of 3.2 million shares. And he hasn’t stopped now, the emir has increased his investment in the New York jeweler to 12.5%. Not that it’s money wasted: Tiffany is a money-making machine. In the fourth quarter of the fiscal balance sheet (as of January 31st), Tiffany announced the increase in net profit to 179.6 million dollars (+0.7%), while revenues increased by 4.1% to 1.24 billions of dollars. And for 2013 the company expects to increase turnover by 6-8%. Who knows, perhaps also thanks to purchases in the Emirates.
