The arched windows on the first floor became a video wall, using LED technology to show scenes of the Manhattan skyline and Central Park. But technology will not dominate. “There’s digital, video, etc., but our reps are physical. It’s not ChatGPT that does in-store sales,” Arnault said.
He added that it was a challenge to create a warm and intimate atmosphere in such a large space: “The ceiling on the first floor is 7.5 meters high and there is 1, The square meter floor area does not include the pillars, so it is very stately. We have created a lot of private spaces even on the ground floor, where you can sit at the consultation table behind the panel. This is very important. Every There are private salons on each floor and four on the engagement floor.”
Peter Marino with architecture firm Office for Metropolitan Architecture (OMA) by Rem Ku Co-founded by Rem Koolhaas. OMA designed the three-storey glazed addition. “We call it the diamond on the roof,” Arnault said.
The size of the project reflects LVMH’s ambitions for Tiffany following its $
acquisition spree.October 8 billion 2020. The refurbishment of the flagship store was started by the previous management, but most of the work has been carried out under the leadership of Ledru and Arnault.
This is the first comprehensive renovation since the 1940 store opened. It’s also a high stakes for Ledru and Arnault. Before the 1940 closure, the store contributed 000% of the brand’s global sales, according to LVMH Chief Financial Officer Jean-Jacques Guiony . The refurbishment should have a “positive impact,” Guiony told analysts in the group’s first-quarter earnings report, “not only on the digital side, but also on the marketing and branding side, because it demonstrates that what we’re doing is in line with the brand. It may be the most iconic luxury store in the world.” According to people familiar with the matter, the Tiffany makeover is by far the largest investment in a luxury store globally.
Ledru declined to reveal the store’s sales goals, but said: “The store has been featured in countless films and TV shows, earning status as a cultural icon and beloved New York institution. Looking ahead, we expect incredibly high levels of global tourist visitation and set the bar high for business expectations.” It will also serve as a blueprint for future openings. “This milestone exemplifies the level of sophistication and attention to detail we plan to bring to our stores globally,” Ledru said. On whether it will serve as a blueprint for future stores, Arnault added: “There are many design elements that we will try to develop. But, despite the generosity of our shareholders, I don’t think we can have 000,000 square meters of stores all over the world. Peter Marino has proven in over 10 years of working with us that he Very good at making big and small stores that are the same size, with the same level of detail, and elements that echo each other.”
