Luxury jewelry retailer Tiffany & Co. (New York) is reportedly about to experiment with a new retail concept — a boutique called Temple St. Clair, an upscale jewelry line it invested in last year.
According to a report in The Wall Street Journal, the boutiques — selling slightly lower-cost merchandise — will debut at South Coast Plaza (Costa Mesa, Calif.) in September and at The Short Hills Mall (Short Hills, N.J.) in November.
The Journal reported that Tiffany, which initially spent $4 million in the new unit, is committed to investing an additional $9 million, though it declined to elaborate. The line, which uses more gold and colored stones than traditional Tiffany pieces, is sold through upscale stores such as New York's Bergdorf Goodman. The Journal quoted Temple St. Clair coo Paul Engler as saying the collection ranges from $500 gemstone earrings to $35,000 blue moonstone pieces. Engler is also the husband of designer Temple St. Clair. Customers tend to be women between the ages of 30 and 60, many of whom buy jewelry for themselves, according to Engler.
Tiffany ceo Michael Kowalski said the new line is in a “test mode,” and that opening more Temple St. Clair stores in the future is “certainly possible.”