Inside Tiffany & Co.’s reopened Fifth Avenue flagship: Audrey Hepburn’s historic New York haunt was just reborn as The Landmark, and we were with Hailey Bieber, Gal Gadot and Angelababy at the launch

May 5 , 2023

Tiffany & Co.’s president and CEO Anthony Ledru welcomes Hong Kong actress Angelababy at the reopening of the brand’s iconic store on New York’s Fifth Avenue, The Landmark. Photo: Getty Images

Fashion

Etched into popular culture by Hollywood classic Breakfast at Tiffany’s, the US jeweller’s iconic NYC home was shuttered for four years – now reborn under the watch of LVMH’s CEO Bernard Arnault

The 10-storey Landmark complex features art by Jean-Michel Basquiat and Daniel Arsham, Michelin-starred chef Daniel Boulud at the Blue Box Cafe, and the tourist-friendly Audrey Hepburn Experience

When LVMH acquired US jeweller Tiffany & Co. for a whopping US$15.8 billion in January 2021, it was the industry’s biggest ever deal.

LVMH – the world’s largest luxury group and the company behind brands such as Louis Vuitton, Dior and Bulgari – didn’t waste time in giving a much-needed revamp to the storied all-American brand. Shortly after the acquisition, the company appointed Alexandre Arnault, formerly CEO of Rimowa and son of LVMH’s owner Bernard Arnault, as its executive vice-president of product and communications; and Anthony Ledru, who had previously worked at Tiffany before joining Louis Vuitton, as its president and CEO.

The first sign of things to come was a buzzy campaign, unveiled in the summer of 2021, which bluntly declared that the brand was “not your mother’s Tiffany” any more, setting the stage for a complete overhaul of a company that had long been associated with its relatively affordable silver jewellery and trinkets.

Actress Audrey Hepburn on the set of Breakfast at Tiffany’s in 1961. Photo: Sunset Boulevard/Corbis

While Tiffany has always played a significant role in pop culture, thanks in no small part to the universally loved 1961 film Breakfast at Tiffany’s starring Audrey Hepburn, LVMH provided the company with the resources to compete with industry leaders such as Cartier, Bulgari and Van Cleef & Arpels.

The more you go digital – the more you go intangible and unreal – the more clients want something tangible and authentic

Anthony Ledru, president and CEO, Tiffany & Co.

The culmination of LVMH’s efforts was the recent unveiling of The Landmark: the long-awaited reopening of its Fifth Avenue store, immortalised in the Hepburn film and to this day one of New York’s most popular tourist attractions.

It took four years to complete the refurbishment of the iconic space, which first opened in 1940 and was at one point driving 10 per cent of sales (the brand banked more than US$5.5 billion last year, according to Bloomberg).

Alexandre Arnault, executive vice-president of Tiffany & Co., Gal Gadot and Anthony Ledru, president and CEO of Tiffany & Co., cut the ribbon during the reopening of the brand’s NYC flagship store. Photo: Getty Images

On the eve of the reopening, Ledru couldn’t contain his excitement, pointing out that The Landmark is more than just a boutique. He calls the project “the renovation of the century”, adding that “it’s really one of a kind. It’s a landmark – words matter – and I insist it’s not a flagship; it’s the Tiffany Landmark and there’s only one in the world.”

Ensconced in a private salon on the 10th floor of building – the only floor not open to the public and devoted to the brand’s top clients – Ledru explains to Style that in this day and age, when everything is available at the click of a button, you need to go the extra mile to bring customers to bricks-and-mortar boutiques. A large shop with a great assortment and talented sales advisers just doesn’t cut it any more.