Tuesday, March 24, 2009

Tiffany & Co. To Open a Second Toronto Location

According to a press release from Tiffany & Co., the luxury jeweller will open a second location in Toronto at Yorkdale Shopping Centre (Dufferin Street & Highway 401)—the first and only boutique in the city, until now, is located at 85 Bloor Street West. The release describes the new store as having a "5-foot-high fa├žade with a Mondrian-like stone pattern, Black Zimbabwe marble arch, and Atlas Clock above the entrance. Tiffany's iconic, deco-inspired stainless steel doors will lead to a spacious interior of elegant jewelry salons with gleaming stainless steel showcases, mottled Makore wood and custom furnishings and wall coverings." It will include exclusive Tiffany & Co. collections such as engagement rings, statement jewels, fine and sterling silver jewelry, watches, gifts, accessories, and the designs of Elsa Peretti, Paloma Picasso, Jean Schlumberger and Frank Gehry.

On the subject of the spring 2009 launch, Beth O. Canavan, executive vice president of Tiffany & Co., explained that "Tiffany is well established in Toronto and it gives us great pleasure to provide our growing number of customers with the convenience of shopping in the ideally located Yorkdale. With its recent expansion and elegant upgrade, the centre presents the perfect atmosphere for us to serve everyone with the superior quality, craftsmanship and design excellence that are synonymous with Tiffany & Co."

The new addition comes despite recent news from Women's Wear Daily that Tiffany & Co. reported a 75.6 percent drop in fourth-quarter earnings and a "tepid" sales outlook. New York Magazine's The Cut noted that the jeweler—among other companies like Versace and Abercrombie & Fitch—is refusing to lower prices in order to preserve the luxury brand's integrity, despite the rollbacks being unveiled by competitors.

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