News Flash

New format to present exciting assortment of Tiffany jewelry

18 Oct '07

2 min read

Tiffany & Co announced a significant increase in the number of TIFFANY & CO stores it plans to open in the U.S. To facilitate that increase, the Company has developed a new, smaller-format store that will occupy approximately 2,000 gross square feet and offer a wide range of jewelry designs except engagement jewelry. It has the working name TIFFANY & CO COLLECTIONS and the first store is expected to open in 2008.

In remarks to security analysts and investors at a Breakfast meeting in the Company's new store on Wall Street, Michael J. Kowalski, chairman and chief executive officer, said, "The addition of this new format affords us with the opportunity to ultimately operate as many as 170 stores in the U.S."

"Our plan continues to call for opening five to seven TIFFANY & CO stores per year of approximately 5,000 gross square feet in size."

"In addition, up to 70 COLLECTIONS stores will be opened as location opportunities arise. This new format has the potential to significantly accelerate U.S. sales growth over the medium- to long-term and enhance profitability due to a merchandise mix weighted with higher-margin products."

The Company currently operates 68 TIFFANY & CO stores in the U.S. Beth O. Canavan, executive vice president, added, "This format will present an exciting assortment of Tiffany's jewelry and will reach out clearly to the self-purchase customer, with a selling environment that celebrates Tiffany style."

"The location opportunities in existing and new markets are vast and geographically broad-based and add enormous sales potential and longevity to our store expansion strategy."

More Tiffany & Co News... More Fashion News - United States Of America...