Tiffany Plans New York Flagship Overhaul

Tiffany & Co. (New York) announced that it will be renovating its New York flagship located on Fifth Avenue.

Construction will begin next spring, at which point the 10-story store will be revamped to “serve as the modern crown jewel” of the company’s store fleet, according to Bloomberg. During construction, the company will temporarily use the space available next door that closed earlier this year.

The company will utilize as much as 2 percent of its worldwide net sales to finance the renovation, which will take place over the next three fiscal years. It is expected to be completed by the final quarter of 2021.