Tiffany & Co. to debut at The Mall of San Juan in March
In association with a local retail partner, Tiffany & Co. will open its first store in Puerto Rico in coming months at The Mall of San Juan, Nathan Strauss, director of corporate communications for the luxury jewelry store chain confirmed to News is my Business.
The partner for the venture is Reinhold Jewelers, owned by Marie Helene Morrow. Reinhold’s flagship Plaza Las Américas store has a Tiffany section.
Industry sources told NIMB that the new store is slated to open in March on the second level of the mall that will mark its first anniversary of operations that month.
Reinhold operates a total of 10 stores, according to the company’s website. Three of those stores have the name of Reinhold Jewelers, including its flagship store in Plaza Las Américas. The other two are located in Ponce at Plaza del Caribe Mall and at the El San Juan Hotel in Isla Verde. In addition, the company owns 6 TOUS stores (Plaza Las Américas, Ponce, Bayamón, Mayagüez, Carolina and Hatillo) and a David Yurman store (Plaza las Américas).
Over the years, Morrow and her business have been recognized with accolades that include the GEM Award for Lifetime Achievement, the Women’s Jewelry Association’s Retailer of the Year in 2003 and Best Retailer at the Designer Retailer Awards in 2006.
In a separate development, other sources told NIMB that Letran Joyeros will also open a store at The Mall of San Juan’s first level. The newest jewelry store to arrive at The Mall of San Juan, Daniel Espinosa Jewelry, opened in December, joining Pandora, Swarovsky, Evocent and Bulgari in the category.
A’Gaci arrives at Plaza Las Américas, Plaza Del Caribe
In related news, the mall operators of Plaza Las Américas and Plaza del Caribe confirmed Tuesday the arrival of A’Gaci, a clothing store for young women in the spring.
The Plaza Las Américas store will occupy a 10,000 square-foot space on the first level of the mall, in the corridor between West Elm and Macy’s, while the Plaza Del Caribe location will occupy approximately 8,200 square feet on the first level in front of Victoria’s Secret and next to Sears Brand Central.
“We expect both stores to open their doors in April to continue to expand the range of fashion in both malls,” said Rafael Ruiz-Comas, director of leasing for Empresas Fonalledas, owners of both malls.
Other new tenants that recently opened at Plaza Del Caribe include a second Soft & Creamy location, and Alex & Ani. In March, Vans and Kokmo will open in the new corridor toward Macy’s, and Origami Sushi, to be located at the Terraza del Caribe food court.
Did you know Versace and Bvlgari didn’t have great holiday seasons… A dark 2015 is trending to a disastrous 2016.
Reinhold will have a mini remodel and rebranding of that corner section once Tiffany leaves our store. Even so, no great loss. Performance of these ultra high luxury brands is not turning retail here on fire. Still, that mall desperately needs to fill second level space and fulfill its promise of luxury before other brands can begin to take their leap of faith in joining them there. For these ultra high luxury brands, it’s more about presence than superb market performance in Puerto Rico….they can afford it, especially if enticed to open with reduced rents.