Tiffany plans third NYC location in Soho

September 16, 2011 12:08PM

Tiffany & Co. will be opening its third New York store in Soho next
year, Reuters reported. The plan is for the 7,000-square-foot store to
open in September 2012.

Tiffany picked the location because of its popularity with tourists.
According to Marketwatch, the new store will occupy a floor-through space that combines two locations — 97 Greene Street and 106 Wooster Street — in the heart of the Soho-Cast Iron Historic District.
The new store will be larger than the average of Tiffany’s planned new
stores, which it said in March would be about 3,500 to 4,000 square
feet.

The company’s flagship store at 727 Fifth Avenue is 45,500
square feet, and accounted for 8 percent of company-wide sales. Sales in
the most recent quarter at that store rose 41 percent compared with a year earlier, helped by a rise in the number of international
visitors. Tiffany cited rising store sales as a significant factor in its decision to open a third store. Tiffany has another location at 37 Wall Street and operates
98 stores nationwide. [Reuters] and [MarketWatch]