Tiffany & Co to open first Portugal store in 2027

Tiffany & Co will open its first directly operated store in Portugal in 2027, entering Lisbon’s luxury retail market with a site on Avenida da Liberdade in the former BES headquarters building. The move matters for international brands and investors because it adds to the concentration of high-end retail on Portugal’s main luxury shopping avenue.

The US jeweller will take one of four retail units being created at Liberdade 201, a mixed-use redevelopment owned by real estate company Merlin Properties. The building, once the headquarters of Banco Espírito Santo, is being converted for office, hospitality and retail use.

Three of the ground-floor retail spaces have been leased by LVMH and will house brands making their Lisbon debut: Tiffany & Co, Loro Piana and Celine. Tiffany was acquired by the Arnault family’s luxury group in 2021 for €14.7 billion and has since been expanding in Europe.

According to LVMH’s first-half report, Tiffany and Bvlgari delivered an “excellent performance” as the group continued refurbishing stores and opening new ones. LVMH said Tiffany was among the brands receiving the largest share of investment, alongside Louis Vuitton, Dior and Sephora, within total group capital expenditure of €2.061 billion in the period.

Originally published at Eco.pt