Autocross Blogs - Chrls Iicey

Tiffany & Co. plans to expand into Greenwich in July, a move hailed by two real estate brokers as a reaffirmation of Greenwichs position as a lucrative site for upscale retailers.By Tiffany Bracelet sale a new 7,000-square-foot store at 140 Greenwich Ave. despite having a store in White Plains, N.Y., Tiffany reflects growing confidence among high-end retailers that the area can support multiple stores, the brokers maintained in interviews.When The Westchester mall in White Plains opened in 1995, many believed the retail businesses in Greenwich would be "cannibalized," said Thomas Torelli, a partner at Allied Property Group in Greenwich, which brokered the deal."Their opening is a big vote of confidence for the ability of retailers to be successful in both locations," said Torelli. "It is an affirmation of Greenwich Avenue as one of the top 10 suburban retail sites in the country."Torelli said Tiffany signed a lease for the former Polo Ralph Lauren store in April. A Tiffany executive did not return a call seeking comment.Following Tiffanys footsteps, other highend stores that operate in the Westchester could consider "more seriously" about opening sites in Greenwich, he observed.Victoria's Secret, Ann Taylor, Laura Ashley, The Limited Talbot's and Gap Kids are among the brand names with stores in both White Plains and Greenwich.I think its positive," said Tiffany CuffLink sale Heaven, general managing partner of M.H. Heaven Real Estate L.L.C., a commercial and residential broker in Greenwich. "Continued renaissance is the way I would like to describe it."Back in mid-1990s, he said, the opening of Saks Fifth Avenue on Greenwich Avenue differentiated the busy retail thoroughfare from other main streets."It's really indicative of the strengthening of the street," Heaven said,

He said the purchasing power of affluent shoppers lured Tiffany to Greenwich, one of the nation's wealthiest communities with singlefamily housing prices as high as $2 million.Greenwich had a per capita income of $72,132 in 1995, the latest year for which statistics were available, compared with the state average of $30,303, according to theConnecticut Department of Economic and Community Development."Tiffany is a very high-end retailer," Heaven said. "They have done their research. With the disposable income the high that it is, they are tapping into the market."One month after Tiffany's Tiffany Earring sale opening, the J. Crew clothing chain is scheduled to open an outlet at 126 Greenwich Ave. on Aug. 4."There are two things in retail that Greenwich can offer," Heaven said. "You have a lot of pedestrian traffic and a high-level of disposable income."Heaven said he expects to see a continued "influx of other high-end retailers" into Greenwich, even though very little space is available for them to lease. Several of those retailers eyeing Greenwich Avenue are clients of Heavens firm.Torelli said he is also working with several other retailers looking to open stores in Greenwich. He declined to name them.Excluding Tiffany's space, the rest of 22,000 square-foot building space is used as office space. Tiffany will redo the front of the store before moving in."Obviously, it's not as big as their Manhattan store, but it's typical forwhat they do their expansion," Torelli said.

With an eye toward opening more of its stores nationwide, New York-based Tiffany & Co. Inc. will stop supplying fine china, crystal and designer silver to the handful of Columbus-area retailers that have stocked the merchandise for about a dozen years.Instead, Tiffany will concentrate on expanding its network of stores, targeting the top 50 U.S. markets and its direct-to-consumer division.The change begins January 2000.Area stores among Tiffany's trade division Tiffany Key Ring sale include the Diamond Cellar on Sawmill Road, Argo & Lehne Jewelers at the Kingsdale Center in Upper Arlington, and Marshall Field's stores at City Center and the Mall at Tuttle Crossing. Mark Aaron, vice president of investor relations at Tiffany, said domestic sales to department stores and jewelers were marginally profitable, reflecting about 3 percent of Tiffany's total sales.In fiscal 1998, Tiffany reported $590 million in U.S. sales, $462 million in international sales and $116 million in sales from direct marketing. Trade division sales were not disclosed."We're taking the route of opening company-operated stores," Aaron said. "We plan to open three to five new U.S. stores each year and a few international stores as well."It has been rumored that Tiffany is among the retailers being courted for the proposed Easton Fashion Place. Tim Rollins, a spokesman for the Easton development, declined to comment on the speculation and Aaron wouldn't talk about whether the retailer has plans for Columbus.