Tiffany’s recently announced plans for a new flagship on Rodeo Drive in Beverly Hills that will replace its current location lower down at Rodeo One. The new flagship will be built on the site of the former Luxe boutique Hotel, which will be demolished to build the new store that is expected to span 30,000 square feet over three floors. Tiffany’s owner LVMH Moet Hennessy paid $200 million for the hotel in 2021. 

Like other designer icons’ boutiques, the new flagship will include a rooftop garden, restaurant, and lots of private client space. With the announcement of the new Tiffany’s, LVMH will have three projects under construction on Rodeo Drive, including Louis Vuitton, and Bulgari flagships, all ranging three to five times larger than their current locations. The luxury conglomerate recently opened a new Dior flagship last summer. In total, LVMH has paid roughly $750 million for the property alone that these four flagships are sitting on.

The new Tiffany’s is being built across the street from the new Bulgari flagship on the corner of Rodeo Drive and Burton Way. Diagonally from the new Bulgari is a new Cartier flagship that recently commenced construction and will be nearly three times larger than the store it replaces. On the opposite corner of the new Bulgari will be a new David Yurman boutique. 

Designer jewelers’ pivot to supersized flagships follows that of designer fashion brands and is occurring in the top luxury markets, with the US focus concentrated in South Florida, NYC, and Beverly Hills. Smaller flagships are populating secondary luxury markets. Despite the high cost to build and operate these massive flagships, designer labels are increasingly recognizing the value for brand building and catering to the growing number of super affluent consumers that demand a concierge supported customer experience akin to what they experience at the best 5-Star resorts around the globe.

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