ASPREY OPENS IN MIAMI: Earlier this month, British luxury goods firm Asprey opened a 200-square-foot store at the Setai hotel in Miami. This, the firm’s third U.S. store, will offer jewelry, silver, gift items and exotic leather goods. Prices in the store range from $160 for small leather goods or key chains to $37,000 for a purple crocodile bar set with sterling silver and crystal martini glasses. An Asprey spokeswoman said, “The Setai offers Asprey the perfect venue in Miami to reach our clientele in their world. We like reaching our customers where they live and where they vacation.” Asprey has flagships in London and New York and brand outposts in luxury markets such as Beverly Hills, Saint Moritz, Switzerland, and Dubai. A Tokyo boutique is slated to open next month. On Feb. 1 the firm will host a charity fashion show for 300 women at Mar-a-lago.
This story first appeared in the January 29, 2008 issue of WWD. Subscribe Today.
VALENTINO, MITSUI END JOINT VENTURE: Valentino SpA said Monday it had acquired 100 percent of its Japanese subsidiary, after buying out local partner Mitsui and Co. Ltd. Valentino, which is a unit of Valentino Fashion Group SpA, purchased Mitsui’s 49 percent holding in Valentino Japan Ltd. for an undisclosed sum. Mitsui set up Valentino Japan in 1974 with two other Japanese companies. Valentino bought 51 percent of the business in 2004. In Monday’s statement, Valentino said the buyout was in line with its strategy to develop the Japanese market, which accounts for 10 percent of company sales.
TIFFANY TO OPEN IN MADRID: Tiffany & Co. said on Monday it will open a store in Madrid in the fall. The site, at No. 10, Calle José Ortega y Gasset, will be 5,400 square feet and will occupy two levels in the landmark building. Tiffany architects and designers are working on preserving the building’s original facade, creating a two-story entry rotunda of stone that opens to a modern and gracious interior with Macassar and walnut woods, custom furnishings and brushed stainless steel showcases, the jewelry retailer said. Cesare Settepassi, vice president and managing director of Tiffany & Co. Europe, said in a statement that the retailer’s “prominent location in a landmark building in Madrid’s most desirable shopping area provides us with the ideal environment for introducing customers to Tiffany’s own heritage of product design and outstanding service, for which it is known worldwide.”