Tiffany scooped up by LVMH

New York (CNN Business)Tiffany & Co. couldn’t reopen its flagship location in New York without some dazzle — a sparkling box lit in its iconic blue.

The luxury jeweler debuted exterior renderings of its Fifth Avenue store on Monday, which is currently in the midst of a multi-year renovation. Sitting on top of the 80-year-old limestone building is a modern, eye-catching glass box that “echoes the height and grandeur of the flagship’s timeless main floor,” the company said in a press release.

A rendering of the top floors of Tiffany & Co.'s flagship in New York.
The top three floors of the building were constructed in 1980 as an office space. Tiffany said the “completely reimagined” space will host events and clients once the store reopens in spring 2022 — more than a year after it was originally scheduled to open.

    “Tiffany’s newly transformed flagship will reflect the future of our brand, while honoring our 183-year legacy,” said Reed Krakoff, Tiffany’s chief artistic officer.

    A rendering of Tiffany & Co.'s remodeled flagship location in New York.
    Tiffany closed the 727 Fifth Avenue location soon after it announced the multimillion dollar renovation in 2018. The redesign is part of the company’s broader focus on attracting younger customers to its jewelry. A temporary store remains open nearby.

      Interior images of the space haven’t yet been revealed. However, Tiffany said in Monday’s release that the store “will draw consumers inside once again and inspire them to journey from the main floor up through the entirety of the building.”
      Last year, LVMH (LVMHF) announced a $16.2 billion deal to buy Tiffany (TIF). LVMH is the world’s biggest luxury group and home to 75 different brands, including Christian Dior and Bulgari. The acquisition is still on track to close this year despite the global economic slowdown brought on by the pandemic.
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