Tiffany & Co. Opens New Location in Miraflores
On May 12th, the American brand Tiffany & Co. opened new doors on Santa Cruz Avenue in Miraflores managed by G & G Joyeros. Known as one of the world’s premier jewelers that has been in business for nearly 200 years since 1837, this branch of the franchise will be the first in Lima and the first in Peru.
Tiffany & Co. is today present in many other countries in Latin America, including Mexico, Brazil, Colombia and Chile, but as quoted in Gestion newspaper, Paula Larroque, Vice President of the business for Latin America and the Caribbean, predicts that Peru will soon be among the top countries for the brand.
Within the past years, the economy of Peru has seen significant consecutive economic growth. For that reason, it is considered very possible that Peru could become a top 5 country in the region within the next three years. So with that in mind, the franchise location in Miraflores has invested US$2 million in the new store, with a sales target for this year alone standing at US$4 million.
The iconic platinum and diamond engagement rings, a coveted feature in many American films, will be available at the Lima store, with prices ranging from US$2,000 to US$64,000 per piece. The most expensive ring available for sale has a 1.7 carat diamond, and a US$169,000 necklace from the Victoria Collection was on display for the inauguration. However, the Lima collection, which includes pieces of silver as well as yellow and pink gold, also includes a more economical line that is aimed at quinceañeras and graduations. So while many very expensive pieces are available for purchase in Miraflores, it is estimated that the average client’s purchase will only range from US$3,000 to US$4,000.