Consumer
Tiffany to Shrink Shanghai Flagship, Open More China Stores
- Tiffany said to downsize 12,000-square foot store in Shanghai
- Chinese consumers grapple with slowdown, property slump
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Tiffany & Co. is planning to downsize a flagship store of more than 12,000 square feet in Shanghai, people familiar with the matter said, and it plans to open more stores in China in 2025.
Tiffany, LVMH’s leading jewelry maker, which opened the two-floor store in Shanghai’s Hong Kong Plaza in a high-profile ceremony in late 2019, has decided to give up about half of the space, said the people, asking not to be identified because the deal is private. The brand will vacate the space later this month, the people said, and the landlord is already in talks with potential new tenants.