Dive Brief:
- Swarovski has opened its largest flagship location on Fifth Avenue in New York City, the company announced Friday.
- The retailer tapped Creative Director Giovanna Engelbert to design the 14,400-square-foot space. The store features the brand’s octagonal logo in details such as its crystal doorknobs, hand mirrors and try-on stations, according to the company announcement.
- The store showcases the brand’s jewelry, home decor, eyewear, tableware and other products. It will also feature lab-grown diamond collections and collaborations with other companies like the MLB.
Dive Insight:
The Fifth Avenue store is the 10th location that the brand has opened this year in North America, “all of which have shown a very positive impact on our business,” General Manager of Swarovski North America Kolja Kiofsky said in a statement. To date, the company has 2,300 stores across 150 countries.
“Swarovski’s first ever New York flagship, located on Fifth Avenue, places the brand at the heart of luxury,” Kiofsky said in a statement. “This is a key milestone within Swarovski’s growth strategy for North America, which has seen great response from customers and audiences alike across the U.S. and Canadian markets.”
In addition to expanding its brick-and-mortar footprint, Swarovski has experienced some leadership changes in recent years. In 2022, the company appointed Alexis Nasard as the new CEO, making him the first non-family member to lead the company since its founding in 1895. In February, the company named David Wielemans as its new chief financial officer, replacing Frederik Westring as the company’s interim CFO.
Along with Swarovski, more luxury retailers are opening new retail spaces amid a rise of international travel and the return to office, according to a recent JLL report. Jewelry retailers made up 11% of new prime corridor leases this year, the report found.
