TOKYO — Damiani is relocating its store on Namiki Street in the Ginza here in March to a 15,000-square-foot flagship that will be seven times larger than the current shop.

This story first appeared in the December 12, 2007 issue of WWD. Subscribe Today.

The move is part of a major expansion in the Asia-Pacific region for the Italian luxury jewelry firm.

Damiani’s new store was designed by Italian architect Antonio Citterio, who was also in charge of the firm’s flagship in Milan. The marble exterior and wood-tone interior give a classic and modern impression. In addition, a VIP salon will be set up in the store.

The location of the flagship is currently occupied by Dunhill. The Dunhill store has relocated to the former Meidi-ya (high-end supermarket) site in Ginza.

On Nov. 8, Damiani went public and was listed on the Milan stock exchange, giving the company a capitalization of about 25 billion yen, or $229.8 million at current exchange, to fund its global expansion.

“There is a rush of store openings of Damiani in the Asia-Pacific region,” said Asayo Zuber, who returned as chief executive officer in August. “In October, a store in the Venetian Hotel Macao and several stores in the Kowloon area in Hong Kong were opened, and the world’s first cafe and bar produced by Damiani will be opened on the same site of the Kowloon boutique. We will also be opening a store in Raffles Hotel Singapore next January.”