Nov 5, 2012
Tiffany to open megastore on Champs Elysees in Paris
Nov 5, 2012
PARIS - High-end US jeweller Tiffany & Co said Monday it plans to open a multi-storey megastore in 2014 on a prime location - currently occupied by a fast food restaurant - on the Champs Elysees avenue in Paris.
The firm - showcased in the 1961 film "Breakfast at Tiffany's" starring Audrey Hepburn and which this year celebrates its 175th birthday - already has a store in the French capital in the upscale Opera district.
Its new site - a 976-square-metre (10,000-square-feet) premises at number 62 on the fabled avenue - is currently used by an outlet of the Quick restaurant chain to sell burgers and French fries.
The Champs Elysees hosts millions of tourists every year and sports a growing number of luxury outlets like the flagship Louis Vuitton store and US clothes retailers such as Abercrombie & Fitch and Banana Republic.
"Establishing this store on the Champs Elysees will be the ultimate symbol of Tiffany as a truly global luxury brand," said the firm's executive vice president Frederic Cumenal.
The company currently has shops in the Americas, Asia-Pacific, Japan, Europe and the United Arab Emirates.
Its biggest shareholder is Qatar's sovereign wealth fund, which has a 5.2 percent stake in the retailer known for its diamond rings and blue, ribboned boxes.
Copyright © 2023 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.