Iconic jeweler is aiming at wide appeal, but luxury is still key.
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Whether it's a $186,500 diamond ring or a $65 leather bookmark, Tiffany & Co.'s new Salt Lake City store has something for everyone who can afford at least a bit of luxury.
The iconic retail chain is putting the finishing touches on its new 3,500-square-foot location in downtown Salt Lake City, which is set to debut Thursday in the City Creek Center shopping mall.
The store, Tiffany's 88th in the U.S., has a merchandise mix that's similar to others the company is opening across the country.
"It's a full assortment," said Tiffany vice president Beth O. Canavan."We will carry a range of items ... and a range of price points."
Although Tiffany has cases and cases of jewelry, the store also has a number of other lesser-priced items, such as a scarf with the Tiffany imprint, sunglasses, baby dishes, picture frames, address books and business card holders.
The Salt Lake City store is the first of four Tiffany stores that are scheduled to open this year, along with a second store in San Francisco, a third in New York City (in Soho) and its first in La Jolla, Calif. The Salt Lake City location is part of new store design that features a mix of pastel blue and gray decor, and historic photos of Tiffany history.
In Utah, Tiffany is strategically placed near one of City Creek Center's anchors, Nordstrom, as well as other high-end specialty retailers such as Rolex.
Although the store in City Creek Center is the first for Tiffany in Utah, the company already has a strong relationship with the Beehive State, Canavan said. For more than 10 years, the jeweler has purchased much of its gold and silver from the Kennecott's Bingham Canyon Mine.
Canavan said the company has been interested in the Salt Lake City market for some time. The right opportunity and location presented itself in the form of City Creek Center.
Tiffany store director Julie Peterson said that although many consumers along the Wasatch Front might never have been in a Tiffany store, they shouldn't be intimidated to walk through the doors. "Whether their intention is to buy or not, we want to welcome them," she said.
Tiffany joins a number of City Creek tenants, such as Steve Madden footwear, apparel retailer Hugo Boss and watch and accessory shop Porsche Design, that are opening their first Utah locations.
Tiffany is similar to Nordstrom in that it features products and services for middle-income shoppers, as well as the most well-heeled.
But the store has features designed to put the wealthiest customers at ease. For anyone concerned with security, there is a private salon for viewing jewelry, Canavan said.
City Creek Center, which is owned and operated by Taubman Centers Inc., will have about 80 retailers and restaurants in 700,000 square feet of space, including anchor stores Macy's and Nordstrom.
The mall is part of the larger City Creek project, which includes offices, condos and apartments, and was built by the development arm of The Church of Jesus Christ of Latter-day Saints.
How much is that diamond in the window?
The Tiffany engagement ring that's showcased in the window of the retailer's new store in City Creek Center runs a cool $125,000. But the most expensive item is a 3-plus carat diamond ring priced at $186,500.
If a brooch is more your style, you can find one of the 73-carat aquamarine variety that's shaped like a rectangular gift box with 82 round diamonds that make up the bow. That piece, which fits nicely in the palm of your hand, runs $100,000.
If all you're looking to do is exit the store with a Tiffany shopping bag, the least-expensive item is a leather bookmark, at $65. You can also buy any of a number of items for $75, such as a scarf.