Tiffany to Open Third Location in Las Vegas
Source: Tiffany & Co.
May 10, 2008 - 8:05:47 AM
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Tiffany & Co. (NYSE: TIF) today announced plans for a late-2009
opening of an approximately 10,000-square-foot store in The Crystals at
CityCenter, a dazzling vertical city under development in the heart of
the Las Vegas Strip. The multi-billion-dollar development, a joint
venture between MGM MIRAGE (NYSE: MGM) and Dubai World, is the largest
single multi-use project under construction in the country.
The
new, two-level Tiffany & Co. store will face Las Vegas Boulevard
and will be located in The Crystals, CityCenter's 500,000-square-foot
retail and entertainment district. The Crystals forms the core of this
urban metropolis and is designed by Studio Daniel Libeskind with a
brilliant crystalline canopy. Libeskind's 85-foot-high glass facade
will incorporate the store's entrance of polished black marble framing
Tiffany's iconic, deco-inspired stainless steel doors, and will reveal
the store's spacious interior with its grand sculptural staircase and
curved, 85-foot ceiling soaring over gleaming stainless steel
showcases, luxurious furnishings, mottled Makore wood and Italian
marbles.
CityCenter is a design collaboration between MGM
MIRAGE and eight internationally acclaimed architectural firms, whose
environmentally conscious plan is a model of innovation and energy
efficiency. When completed in 2009, CityCenter will become one of the
world's largest sustainable urban communities, encompassing 18 million
square feet over 67 acres, with a host of amenities including luxury
condominiums and hotels, meeting and convention facilities, upscale
boutiques, fashionable clubs and gourmet restaurants.
"Thanks
to the vision of world-renowned architects and urban planners, we have
seen the future of elegant, as well as sustainable, design, and it is
CityCenter," said Beth O. Canavan, executive vice president of Tiffany
& Co. "We are thrilled to open our doors in this dynamic urban
landscape, and we have designed an equally gracious and modern store in
which to welcome our many customers in the region to the Tiffany
shopping experience of utmost quality, craftsmanship and service."
"CityCenter
and its retail district, The Crystals, will forever change the Las
Vegas experience when we open next year," said Bobby Baldwin,
CityCenter's president and CEO. "We are delighted that Tiffany &
Co., who has been a terrific partner to MGM MIRAGE for many years at
Bellagio, will be a part of this exciting new destination."
The
new store will be arrayed with exclusive TIFFANY & CO. collections.
Among them are the jeweler's celebrated diamonds in engagement rings
and jewels of ultimate glamour; fine and sterling silver jewelry; the
celebrated designs of Elsa Peretti, Paloma Picasso, Jean Schlumberger
and Frank Gehry; watches; gifts and accessories.
The new
CityCenter store is the jeweler's third in Las Vegas. Tiffany also
operates stores in the Shops at Via Bellagio and The Forum Shops at
Caesars.
Tiffany & Co. operates jewelry and specialty
retail stores and manufactures products through its subsidiary
corporations. Its principal subsidiary is Tiffany and Company. The
Company operates TIFFANY & CO. retail stores and boutiques in the
Americas, Asia-Pacific and Europe and engages in direct selling through
Internet, catalog and business gift operations. Other operations
include consolidated results from ventures operated under trademarks or
trade names other than TIFFANY & CO. For additional information,
please visit tiffany.com or call the shareholder information line at
800-TIF-0110.
MGM MIRAGE (NYSE: MGM), one of the world's
leading and most respected development companies with significant
holdings in gaming, hospitality and entertainment, owns and operates 17
properties located in Nevada, Mississippi and Michigan, and has 50%
investments in four other properties in Nevada, New Jersey, Illinois
and Macau. MGM MIRAGE is developing major casino and non-casino
resorts, separately and with partners in Las Vegas, Atlantic City, the
People's Republic of China and Abu Dhabi, U.A.E. MGM MIRAGE supports
responsible gaming and has implemented the American Gaming
Association's Code of Conduct for Responsible Gaming at its properties.
MGM MIRAGE has received numerous awards and recognitions for its
industry-leading Diversity Initiative and its community philanthropy
programs. For more information about MGM MIRAGE, please visit the
company's website at http://www.mgmmirage.com.
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