Tiffany & Co. (NYSE: TIF) today announced plans to open a two-level store in Moscow’s GUM department store, the city’s premier destination for luxury shopping and a center for art and culture, located in Red Square. At approximately 420 square meters, (approximately 4,520 square feet) it is the jeweler’s first wholly owned retail business in Russia, and is expected to open in Q1 2014.
“Establishing a presence at this preeminent department store is a milestone in our growth strategy as a leading global luxury brand and underscores the importance of the Russian market,” said Frederic Cumenal, executive vice president, Tiffany & Co. “We’ve designed the store with the warmth and elegance that make our legendary jewelry collections a pleasure to explore, and we look forward to welcoming everyone to the Tiffany shopping experience.”
Visitors will discover the diamonds for which Tiffany is renowned. Among them are engagement rings such as the Tiffany® Setting and jewels of rare yellow and pink diamonds. The creations of exclusive designers Elsa Peretti, Jean Schlumberger and Paloma Picasso will also be available.
The store’s interior will feature archival motifs symbolic of Tiffany’s great heritage established over 175 years of quality and design excellence. They include the color Tiffany Blue, a symbol of luxury and style worldwide; polished stainless steel details with a wheat leaf pattern that frames the entrance of the jeweler’s Fifth Avenue flagship store; marble and amazonite floors; and custom furnishings inspired by the stained glass works of Art Nouveau designer Louis Comfort Tiffany, son of the company’s founder, Charles Lewis Tiffany.
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.