Tiffany & Co. (NYSE: TIF) today announced plans to open an important European flagship store in Paris. The approximately 976-square-metre (approximately 10,000 square feet) multi-level store will be located at 62, Avenue des Champs Elysées and is expected to open in 2014.
“This is a significant development and sales opportunity for Tiffany & Co. While we have been successful in operating three smaller stores in Paris, establishing this store on the Champs Elysées will be the ultimate symbol of Tiffany as a truly global luxury brand,” said Frederic Cumenal, executive vice president, Tiffany & Co. “This is a preeminent location that firmly places Tiffany & Co. on an international stage, in the heart of a city where people from all over the world come to visit and shop.”
The opening on the Champs Elysées will mark a new milestone in Tiffany’s connection to Paris which began in 1850 when the company established its first store. At the Paris World’s Fair in 1867, Tiffany & Co. became the first American firm to win an award for the excellence of its silverware. In 1999, Tiffany returned to Paris with a store on rue de la Paix. Charles Lewis Tiffany founded the company with a vision to offer the world the finest diamond jewelry, and this year, Tiffany is celebrating 175 years of design excellence.
Tiffany & Co. operates jewelry stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company. The Company operates TIFFANY & CO. retail stores and boutiques in the Americas, Asia-Pacific, Japan, Europe and the United Arab Emirates and engages in direct selling through Internet, catalogue and business gift operations. For additional information, please visit www.tiffany.com.