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MajorsAug 24, 2020
Tiffany’s Flagship Renovation Delayed Until 2022
Non-essential construction stalled in New York City as a result of the COVID-19 pandemic.
Tiffany & Co.’s New York City flagship has temporarily relocated to 6 E. 57th St. while its main store on Fifth Avenue undergoes a renovation. (Photo credit: Rodolfo Martinez)
New York—Tiffany & Co.’s flagship renovation is going to take longer than the jeweler initially expected, according to its recent 8-K filing.
Non-essential construction activity was halted in New York City in response to the COVID-19 pandemic.
First announced in 2018, the renovation of its New York flagship on Fifth Avenue was expected to be completed by the fourth quarter of 2021 but has been pushed back to the spring of 2022.
Tiffany opened its first store in New York City in 1837 but has been in the 10-story location on Fifth Avenue since 1940.
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The flagship closed in January for renovations, which are expected to cost upward of $200 million.
Called The Tiffany Flagship Next Door, the four-level space includes a private selling room on each floor and one VIP salon.
The company has been in the temporary space since January but opened a limited pop-up shop in its original, under-construction location over the holiday season to showcase its new collection of men’s jewelry and other products.
Tiffany will be reporting its second-quarter results on Aug. 27.
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