NEW YORK - (Business Wire) Tiffany & Co. (NYSE: TIF) today announced plans for a late-2009 opening of an approximately 10,000-square-foot store in The Crystals at CityCenter, a dazzling vertical city under development in the heart of the Las Vegas Strip. The multi-billion-dollar development, a joint venture between MGM MIRAGE (NYSE: MGM) and Dubai World, is the largest single multi-use project under construction in the country.
The new, two-level Tiffany & Co. store will face Las Vegas Boulevard and will be located in The Crystals, CityCenter’s 500,000-square-foot retail and entertainment district. The Crystals forms the core of this urban metropolis and is designed by Studio Daniel Libeskind with a brilliant crystalline canopy. Libeskind’s 85-foot-high glass façade will incorporate the store’s entrance of polished black marble framing Tiffany’s iconic, deco-inspired stainless steel doors, and will reveal the store’s spacious interior with its grand sculptural staircase and curved, 85-foot ceiling soaring over gleaming stainless steel showcases, luxurious furnishings, mottled Makore wood and Italian marbles.
CityCenter is a design collaboration between MGM MIRAGE and eight internationally acclaimed architectural firms, whose environmentally conscious plan is a model of innovation and energy efficiency. When completed in 2009, CityCenter will become one of the world’s largest sustainable urban communities, encompassing 18 million square feet over 67 acres, with a host of amenities including luxury condominiums and hotels, meeting and convention facilities, upscale boutiques, fashionable clubs and gourmet restaurants.
“Thanks to the vision of world-renowned architects and urban planners, we have seen the future of elegant, as well as sustainable, design, and it is CityCenter,” said Beth O. Canavan, executive vice president of Tiffany & Co. “We are thrilled to open our doors in this dynamic urban landscape, and we have designed an equally gracious and modern store in which to welcome our many customers in the region to the Tiffany shopping experience of utmost quality, craftsmanship and service.”
“CityCenter and its retail district, The Crystals, will forever change the Las Vegas experience when we open next year,” said Bobby Baldwin, CityCenter’s president and CEO. “We are delighted that Tiffany & Co., who has been a terrific partner to MGM MIRAGE for many years at Bellagio, will be a part of this exciting new destination.”
The new store will be arrayed with exclusive TIFFANY & CO. collections. Among them are the jeweler’s celebrated diamonds in engagement rings and jewels of ultimate glamour; fine and sterling silver jewelry; the celebrated designs of Elsa Peretti, Paloma Picasso, Jean Schlumberger and Frank Gehry; watches; gifts and accessories.
The new CityCenter store is the jeweler’s third in Las Vegas. Tiffany also operates stores in the Shops at Via Bellagio and The Forum Shops at Caesars.
Tiffany & Co. operates jewelry and specialty retail stores and manufactures products through its subsidiary corporations. Its principal subsidiary is Tiffany and Company. The Company operates TIFFANY & CO. retail stores and boutiques in the Americas, Asia-Pacific and Europe and engages in direct selling through Internet, catalog and business gift operations. Other operations include consolidated results from ventures operated under trademarks or trade names other than TIFFANY & CO. For additional information, please visit tiffany.com or call the shareholder information line at 800-TIF-0110.
MGM MIRAGE (NYSE: MGM), one of the world's leading and most respected development companies with significant holdings in gaming, hospitality and entertainment, owns and operates 17 properties located in Nevada, Mississippi and Michigan, and has 50% investments in four other properties in Nevada, New Jersey, Illinois and Macau. MGM MIRAGE is developing major casino and non-casino resorts, separately and with partners in Las Vegas, Atlantic City, the People's Republic of China and Abu Dhabi, U.A.E. MGM MIRAGE supports responsible gaming and has implemented the American Gaming Association's Code of Conduct for Responsible Gaming at its properties. MGM MIRAGE has received numerous awards and recognitions for its industry-leading Diversity Initiative and its community philanthropy programs. For more information about MGM MIRAGE, please visit the company's website at http://www.mgmmirage.com.
TIFFANY & CO. and TIFFANY are trademarks of Tiffany and Company.
Tiffany & Co.
Mark L. Aaron, 212-230-5301
mark.aaron@tiffany.com
or
Linda Buckley, 212-277-5900
linda.buckley@tiffany.com
