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Tiffany Betting On Experiences For Its New Flagship August 25, 2020 (0 comments)


New York, NY—Although consumers are still largely hunkered down at home, Tiffany & Co. is putting a long-term bet on the social nature of human beings. Part of the massive renovation of its flagship store includes the addition of a Tiffany-blue glass exhibition and event space on its top three floors. Image: Tiffany & Co.

The Fifth Avenue flagship store’s renovation that began last fall was delayed by six months due to the coronavirus pandemic. It now is slated to be completed in 2022—presumably (hopefully!) well after the pandemic is over and it’s safe to hold large gatherings again. The soaring, expansive exhibition area will occupy two of the top three floors of 727 Fifth Avenue, replacing office space with double-height ceilings and a column-free space. It also will feature an outdoor terrace with views of both Fifth Avenue and Central Park.  

The jeweler is occupying temporary quarters at 6 E. 57thStreet until the renovations are complete. Meanwhile the deadline for the $16 billion deal for LVMH to acquire the brand has been pushed back three months, according to a Reuters report. The deal was originally slated to close Monday but with the proviso that either party could push the date back as long as November 24. The jeweler has exercised that option.

Related: Tiffany Promises More Transparency For Diamonds Amid Greater Concern Over Social Responsibility

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