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Christie’s Holds 2 Sales Despite CyberattackThough its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
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Tiffany to Overhaul Iconic Fifth Avenue Flagship
The jeweler will begin remodeling in spring 2019.
Tiffany & Co.’s New York City flagship store will undergo a planned three-year renovation, beginning in 2019. Pictured is the location’s Blue Box Café, which opened in 2017.
New York—Tiffany & Co. is planning on a facelift.
The jeweler announced Wednesday that it will completely renovate its New York City Fifth Avenue flagship store beginning in spring 2019.
The company is not confirming the total cost for the renovation, though a calculation by Bloomberg based on the information supplied by Tiffany put it at $250 million at least.
Originally opened in 1940, the space encompasses 10 stories at the corner of 57th Street.
Tiffany CEO Alessandro Bogliolo said in a news release on the renovation: “We are extremely excited about the opportunity to transform our iconic New York flagship store and create a dramatic new experience for customers. Innovation will remain at the forefront of Tiffany’s plans for 727 Fifth Avenue, and the newly reimagined flagship will serve as the modern crown jewel of our global store network.”
The move comes, surprisingly, after the opening of the Blue Box Café on the revamped home décor floor last year. A representative for Tiffany declined to say if the Fifth Avenue remodel would involve changes to the café or the just-renovated fourth floor in general.
The company did say that, during the renovation, which will last until the end of 2021, it “expects to remain open for business throughout,” though it will expand to a neighboring space temporarily, located at 6 E. 57th Street where Niketown used to be, to minimize disruption.
RELATED CONTENT: Tiffany is Modernizing and Streamlining its Design ProcessThe very first Tiffany store opened in New York City at 259 Broadway in 1837. The headquarters moved around the city until settling in its current spot, which has been featured in films like “Breakfast at Tiffany’s,” “Sleepless in Seattle” and “Sweet Home Alabama.”
When it opened, it was the “one of the most architecturally advanced mercantile buildings of its type, boasting first-of-its-kind central air-conditioning, along with the main floor free of columns, its 24-foot ceiling entirely supported by trusses,” the company said.
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