The company has held the location for 83 years; however, this is the first extensive renovation of the store. The work was completed by architect Peter Marino and Shohei Shigematsu.
The store has been renamed ‘The Landmark’ and spans 10 floors, with the addition of a rooftop space replacing 1980s office space.
“With the return of tourism to New York after pandemic-related declines, luxury retailers are again betting on refreshed flagships to drive consumer interest and traffic,” writes Katherine Masters of Reuters.
“The company has pushed Tiffany upmarket, beyond it being a byword for engagement rings. According to HSBC analysts, the jeweller increased sales to €5.1 billion ($AU8.4 billion) in 2022 from €3 billion ($AU4.9 billion) in 2020 and is forecast to reach €7.4 billion ($AU12.2 billion) in 2025.”
She added: “LVMH officials have not made the cost of the revamp public. The group has invested heavily in flagships for other brands including Bulgari, across the street from Tiffany, as well as Louis Vuitton's Place Vendome outpost in Paris.”
The eighth and ninth floors will serve as dedicated museum and exhibition spaces, meanwhile, the ground floor is flanked by video walls projecting imagery of Central Park and the Manhattan skyline.
Other notable features include restaurateur Daniel Boulud’s Blue Box Café, open to guests of the store. A sculptural spiral staircase connects the fourth and eighth floors.
To celebrate the re-opening of The Landmark on 28 April, Tiffany & Co will debut new eyewear, watches, and jewellery.
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