News Brief

Tiffany Unveils Smaller, More Affordable Stores

Tiffany & Co. has unveiled a new concept store, reports Women's Wear Daily, designed to highlight its contemporary-and lower-priced-items.

WWD says the Glendale, Calif. store, with 2,600 square feet, sells jewelry in the $80 to $42,000 range--with average prices of between $200 to $5,000. Engagement rings and statement pieces, its priciest items, are not available.

Tiffany reportedly has been testing the new format for two years, and believes it may have the potential to expand to 70 units--all in markets where it operates larger stores, opening three to five of the new format stores per year.--Sarah Mahoney

Tags: retail
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