Tiffany & Co. opens Blue Box Cafe retail concept
It is the retailer's first retail concept in this style and is designed to offer millennial customers the experiential retail they reportedly crave. While Nordstrom, Bloomingdale's and other department stores have operated cafes for decades, Tiffany & Co. is advantageously positioned to play its cafe off of the iconic 1961 Audrey Hepburn film, Breakfast at Tiffany's.
According to Tiffany & Co. chief artistic officer Reed Krakoff, the goal of the new space is to convey to consumers a modern luxury experience. Krakoff said in a statement, "The space is experimental and experiential — a window into the new Tiffany."
The Blue Box Cafe is, not surprisingly, painted in hues of Tiffany blue, with walls, chairs and dishes in the same shade. Instead of art on the walls, display cases are carved out for full brand immersion. The new Blue Box Cafe sits on the same floor as the luxury jeweler's new home and accessories department, all with a view of Central Park. Baby, vintage books and sterling silver goods departments are adjacent to the cafe.
The Blue Box Cafe is the first project unveiled by the retailer's new leadership team. In October, former Diesel CEO Alessandro Bogliolo took over as CEO and Ralph Lauren exec Roger Farah became the brand's Chairman as a result of pressure from event-driven investors Jana Partners.
Tiffany has not been immune to the changing retail landscape. Marriage rates are declining and the consumer has shown an increasing interest in synthetic, sustainable and conflict-free diamonds and gemstones marketed by relative newcomers to fine jewelry. Comparable store sales in the Americas fell last quarter due in part to low tourist spending, but with leisure and restaurant spending set to increase, it is anticipated that the café will boost sales and footfall.
The Blue Box Cafe opens this Friday, November 10. It will be open the same hours as the store on Fifth Avenue.
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