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Tiffany invests in Milan, a “window display” city in Europe

by Giulia Crivelli

Every time that Tiffany inaugurates a shop, Marc Jacheet, group vice president and head of the Europe, Middle East and Africa area, makes a significant purchase - a gift for his wife. This is a little ritual that he also carried out for the recent opening of the third Milan boutique of the U.S. jewellery and watches brand.

Walking around incognito (this is part of the ritual) on the ground floor of the 1,000 square meter flagship store in Piazza Duomo, Jacheet opted (and paid with his credit card) for a pair of earrings from the Mesh collection, designed by Elsa Peretti.

“Every Tiffany shop is dreamed, built and managed with the same philosophy, whether it is a corner or flagship store,” explained Jacheet, who covers the role of group vice president since September 2016. He confesses however that the third boutique in Milan has a particular significance. “When they proposed the location, there was no hesitation and we immediately started to work on a concept that united Tiffany style with the unique aspects of the city. We involved young local artists, commissioning their work for this shop, in total freedom. Another particularity is the space dedicated to watches, which are experiencing a lot of success in Italy,” he said.

The two floors of the new shop, officially inaugurated last week, have been flooded with customers since the first days of opening. “The work was finished and we decided to bring forward the opening: like for the shops in Via Spiga and in Corso Vittorio Emanuele, within the Excelsior store. Among clients there are lots of tourists but also lots of Milanese people,” Jacheet explained.

“Milan today is one of the most interesting European cities in the world and for Tiffany it is a very important window display. The Italians furthermore are among our best online buyers. Or better put: they really appreciate the multi-channel nature: 85% of those who buy in the shop have informed themselves via the internet and know everything about Tiffany collections.”

New-York listed Tiffany will announce its half year figures on August 24, after a positive first quarter. Revenues rose to $900 million and profit rose from $87 million in the February-April 2016 period to $93 million (more than €81 million). “At the end of August, we will open a big shop in Moscow and we are always on the hunt for new locations or relocations of existing boutiques, also in Italy,” Jacheet said.