Tiffany’s targets the millennial shopper

A BID to lure younger customers has boosted sales at Tiffany’s.

The jeweller sold £850m of stock worldwide in the three months to July 31, up 12pc on a year earlier, beating analysts’ forecasts. The company teamed up with singer Lady Gaga to grab attention last year and is refurbishing its flagship New York store to keep up with the times.

It launched a range called Paper Flowers in May which aims to sweep away the stuffy image of fine jewellery. Inspired by the idea of flower petals cut from paper, it aims to be less formal and is the first high-end range from chief artistic officer Reed Krakoff, 54, who joined in January last year. Prices range from £2,325 for a platinum pendant to £70,000 for a necklace studded with diamonds.

The products have been advertised with graffiti at Tiffany’s shops and actress Elle Fanning ( pictured) dancing to a rap. Profits for the quarter hit £113m, up 26pc on the same period for 2017.