Tiffany & Co. revealed its refurbished flagship store located on East 57th Street and Fifth Avenue of Manhattan in New York City on 26 April with a ribbon-cutting ceremony attended by house ambassador Gal Gadot. The flagship, known as The Landmark, has undergone a transformation and now has immersive displays, custom artwork by Tiffany & Co., and never-before-seen jewels. It will be opened to the general public on 28 April.
Renovation work on The Landmark took around three years. According to the luxury brand, it is the first time since the store opened in 1940 that it has undergone a holistic renovation.
Tiffany & Co. is part of LVMH Moët Hennessy Louis Vuitton SE, or LVMH, which recently became the first European company with a market value of over USD 500 billion (RM 22,28,50,00,00,000).
The brand will celebrate the reopening of the store with a range of exclusive designs and one-of-a-kind creations, including diamond watches, limited-edition home objects, and eyewear inspired by the Tiffany Setting engagement ring.
More about the renovated The Landmark store of Tiffany & Co.
Exclusive artwork to new glass structure on top
Shohei Shigematsu of OMA New York worked on the renovation of the building’s core and its circulation infrastructure. The interiors have been transformed by architect Peter Marino.
The massive store of the American luxury brand caters to ultra-elite shoppers. It has 10 floors and a 743-sq-metre penthouse reserved for its exclusive customers. A new three-story glass construction was also added to the top of the existing structure.
Among the changes done to the building include a refurbished façade. Newly redone, it pays homage to The Landmark’s original structure with its Atlas statue.
Keeping in mind the original 1940s design, wood parquet flooring has been done throughout the building.
There are around 40 artworks across the 10 floors, including those by renowned artists such as Anna Weyant, Damien Hirst, Daniel Arsham, Jean-Michel Basquiat, Julian Schnabel, and Rashid Johnson.
Video walls are installed on the ground floor, displaying the Manhattan skyline and Central Park to viewers when they are on. When turned off, the walls turn into mirrors.
A sculptural spiral staircase with rock crystal connects six floors from the third to the eighth. Two floors, the eighth and the ninth, have museum and exhibition spaces.
The daytime menu at the store is by Michelin-starred chef Daniel Boulud, whose Blue Box Cafe will cater to shoppers who need a break. There is also a private dining area and bar.
The cost of renovation is not known
“The reopening of the iconic Fifth Avenue Landmark is a major milestone for our House. Symbolic of a new era for Tiffany & Co., The Landmark is much more than a jewellery store — it is a cultural hub with an exquisite showcase of architecture and superior hospitality, as well as cutting-edge art and design,” said Anthony Ledru, president and chief executive officer (CEO) of Tiffany & Co.
When Bloomberg asked Ledru about the cost of renovation, he declined to give the figure.
“I cannot, but it’s the largest investment ever made by LVMH on a single store. I think that says a lot,” he said.
Asked if it went up to a billion dollars, he said, “No. Not reaching a billion at all.”
According to Reuters, the store contributed 10 per cent of the brand’s global sales before it was closed for renovation in 2019. LVMH bought Tiffany for USD 16 billion (RM 71,31,20,00,000) in 2021.
This story first appeared here.
(Main and Featured images: Tiffany & Co.)