NEW TIFFANY’S IN MILAN, GREENWICH IS UP NEXT
Byline: Alessandra Ilari / With contributions from Wendy Hessen, New York
NEW YORK — Tiffany & Co. continued down its path of retail expansion with the opening of a new store in Milan on the narrow and pedestrian-friendly Via della Spiga late last month and the announcement last week of its plan for a store in Greenwich, Conn.
The Milan shop’s six windows alone make it a crowd stopper, and inside there’s a vast assortment of merchandise displayed on two floors of the 7,560-square-foot space.
“We are extremely happy with the location because it’s an important shopping street and there’s good competition,” said James E. Quinn, vice chairman of Tiffany. “Besides being a major European city, Milan is a center of design and fashion.”
The decor mirrors the interiors of other Tiffany stores worldwide — brown and beige patterned carpeting, cherry wood, stainless steel details and optical fiber lighting.
The wide jewelry selection includes the firm’s exclusive collections by Elsa Perretti, Paloma Picasso and Jean Schlumberger, alongside important classic pieces and a full range of Tiffany fine watches. An entire display case is dedicated to Lucida, Tiffany’s new patented engagement ring, which has become a worldwide top seller. The store also has a gift area, complete with clocks, pens, lighters and baby rattles.
This isn’t Tiffany’s first store in Milan, however. For the past 11 years, it shared space with Faraone, a high-end jewelry store, on Via Montenapoleone. Faraone is owned by Cesare Settepassi, who is also chairman of Tiffany Italia and vice president of Tiffany Europe.
Tiffany has eight stores in Europe, but Quinn said the company was considering openings in Germany and Spain. He added that London was Tiffany’s biggest market in Europe.
As for the 6,600-square-foot Greenwich unit, it will located in the heart of the upscale community’s shopping district, at 140 Greenwich Avenue. The store is scheduled to open in early September, according to Michael Kowalski, Tiffany president and chief executive officer.
“We’ve had our eye on a location in Greenwich for a long time,” said Kowalski. “We believe there is still so much opportunity in the New York area.”
Besides the usual assortment of Tiffany merchandise, the Greenwich store will carry a wide selection of baby gifts and hand-painted porcelain from the company’s Paris Atelier, Le Tallec.
In another development, Tiffany vice president of investor relations, Mark Aaron, was elected to the board of the National Investor Relations Institute. Aaron, who joined the fine jewelry retailer in 1985 as manager of financial analysis, became Tiffany’s first director of investor relations in 1987, the year the company went public.