Saturday, May 28, 2022

[EXCLUSIVE] Tiffany & Co. Finally Opening Second Atlanta Area Boutique

Tiffany & Co., the luxury retailer that has held court in Phipps Plaza for more than fifty years, is finally adding a second Atlanta area location, but not where you might expect.  Following years of rumors that Tiffany & Co. was being courted to open at Avalon in Alpharetta, Atlanta's second Tiffany & Co. store is opening across from Phipps Plaza in Lenox Square!  A newly installed barricade on the first floor of the popular Buckhead mall indicates that Tiffany & Co. will open in place of what most recently a Microsoft store.

Leasing materials indicate that the new Tiffany & Co. space is approximately 8,000 square feet compared to the company's existing Phipps Plaza boutique which is nearly 11,000 square feet.  A store associate at the Phipps boutique indicated that plans call for both stores to operate simultaneously, carrying separate, complementary portions of the brand's collections.

An industry source who attended the recent ICSC [Innovating Commerce Serving Communities] 2022 show in Las Vegas had this to say of luxury retail in the U.S.:

"Luxury retailers are focusing on the US for store growth after decades of focusing on China." 

Despite the proximity, Tiffany & Co. is not the only luxury label to operate stores in both Lenox Square and Phipps Plaza.  Gucci earlier this year opened a store in Lenox Square to complement its store at Phipps Plaza.  Tory Burch also operates stores in both malls.  That said, Coach and Michael Kors each previously operated stores in both malls but now just operate stores in Lenox Square.  

Gap and Mori Luggage & Gifts once operated stores in both malls, but today, following Mori's recent closures, are without a presence in either.  

Tiffany & Co., which was established in New York City in 1837, was acquired last January by European luxury conglomerate LVMH in a deal valued at $15.8 billion.  Following the acquisition, Alexandre Arnault, son of billionaire and LVMH CEO Bernard Arnault, has worked to revamp the brand to attract younger buyers including hiring Jay Z and Beyonce as its latest brand ambassadors.

Patrons swarmed Tiffany & Co. at Phipps Plaza on opening day, November 12, 1969 

In Lenox Square, Tiffany & Co. joins fellow LVMH brands Louis Vuitton and TAG Heuer, as well as other luxury jewelers Cartier, David Yurman, Audemars Piguet, Mont Blanc and soon, Breitling, Tudor and Blue Nile.  

ToNeTo Atlanta reported May 28 that Dior, a brand also controlled by the Arnault family, is opening a new store in Phipps Plaza that may eventually replace the brand's existing boutique in Buckhead Village District.

Are you surprised to see Tiffany & Co. open in Lenox Square?  When was the last time you shopped in Lenox Square?  What other stores would you like to see open in Lenox Square?

Please share your thoughts below. 

3 comments:

Ham said...

As an occasional shopper I am very much surprised. I fear this may be bad news for Phipps. I assume Simon feels that isn't an issue, but you have to wonder.

Anonymous said...

I'm surprised Tiffany opened at Lenox. Doesn't seem to make a lot of sense and is probably not good for Phipps. Avalon would seem to be a better choice especially since I think many people avoid Buckhead these days!!

Anonymous said...

The twist is that the Lenox Tiffany will only sell empty blue bags for Atlanta's countless "entertainment CEOs" to use in Instagram posts.

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