Tiffany, Dior: Understanding the New Model for Luxury Flagships
NEW YORK — For luxury brands with global ambitions, a founding flagship is as important to the mission as Disney World is to Disney.
Nowhere is that more true than for Tiffany, which is set to reopen its Fifth Avenue flagship Friday after a multi-year renovation. In addition to being the most visible and famous manifestation of the brand (enshrined in the popular imagination by the 1961 film “Breakfast at Tiffany’s”), the store is a cash cow, generating around 10 percent of sales prior to its closure. Few, if any, luxury brands of Tiffany’s size rely so heavily on a…