CALGARY – It is a testament to Calgary’s growing global recognition as a luxury retail destination.
On Wednesday, iconic jeweller Tiffany & Co. opened its first store in Calgary, at Chinook Centre, the fourth location for the international retailer in Canada with two other stores in Toronto and one in Vancouver.
“Calgary has been in our sights for a long time and as if with everything it’s location, location, location,” said Andrea Hopson, vice-president, Canada, for Tiffany & Co. “We couldn’t be more thrilled that we’re finally at this day where we can not only open in what we feel is one of the most critical and important markets in the country but also to be able to open with our newly-evolved store design and of course our iconic collections.”
The price range for jewelry ranges from $100-$200 to a rare solitaire Lucida engagement five-carat, D-colour, internally flawless, diamond ring at $1 million.
“Calgarians are bringing us here,” said Hopson. “Of course, economically this province has been extraordinarily impressive and exciting. It’s a vibrant and young population who do crave the very best in the world thus Tiffany and other brands have identified this as an important market.”
The store occupies about 4,100 square feet within Chinook Centre’s newly-expanded wing. The store’s facade features architectural details of Tiffany’s famed Fifth Avenue flagship store, including a wheat leaf pattern in carved stone and stainless steel rim. Inside, customers will find an inviting atmosphere of intimate jewelry salons with light grey wood panelling, custom furnishings in a palette of warm neutrals, pearlescent wall coverings and stainless steel framed showcases.
“Opening Tiffany’s is like going to another level in retail not only in this city but in any city in the world,” said Terry Napper, general manager at Chinook Centre. “They’re so professional and great to deal with but the merchandising alone is over the top.
“The other thing that will happen now is that they will start to attract other higher end brands to Calgary because they’re here. It’s a coup for Chinook and Calgary. It’s great for the city to get a Tiffany’s free-standing store.”
Tiffany’s opened its first Canadian store in November 1991 in Toronto. Its second store in Vancouver opened in December 2006. Hopson said the company has an aggressive plan to continue its expansion in Canada because the market has responded to the iconic brand.
Fuelling luxury retail sales in Calgary are the high levels of income in the city. According to the Conference Board of Canada, personal income per capita in Calgary this year will be $55,007 annually and grow to $62,851 in 2015 while disposable income per capita will be $42,831 this year and grow to $48,455 in 2015.
“The opening of the Tiffany & Co. store at Chinook Centre is a significant event on the retail scene in Calgary and is seen as a vote of confidence in the local economy. This is a clear indication that the Calgary retail sector is firing on all cylinders,” said Michael Kehoe, an Alberta-based retail specialist with Fairfield Commercial Real Estate Inc.
“Luxury brands that cater to affluent, upwardly mobile and aspirational shoppers depend on landmark retail venues like Chinook for their prime locations. These brands tend to cluster together and perhaps Louis Vuitton, Chanel, Prada, Hermes or Cartier among others will follow Tiffany to Chinook Centre.”
Kehoe said the greater Calgary region enjoys a level of economic prosperity that is truly unique in the Canadian retail landscape. As the head office capital of Canada’s energy sector the city is an attractive destination for luxury brands such as Tiffany & Co. to set up shop, he added.
“The addition of American jeweller icon Tiffany & Co. to the Chinook Centre will elevate the mall’s style offerings to a new level further differentiating Chinook from its competitors in the market.”
Jacqueline Dupuis is one of many Calgary consumers thrilled to see a Tiffany’s store now in the local market.
“It’s super exciting but I also think it’s really indicative of the world-class city that Calgary has grown to become,” she said. “It’s certainly really amazing that a brand like Tiffany’s feels it’s important to be present in our community and I think it says a lot about the Calgary market and the demographic of the consumers within the market.”
Dupuis said that when she is looking to splurge on something or find something really special Tiffany’s is a store she visits.
“Tiffany’s brings back that sort of traditional idea of window shopping. As our attention spans have decreased in this day and age, the art of window shopping has up and died but the Tiffany store in and of itself will certainly bring that back to a certain extent,” she said.
Calgary Herald
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