The Kay Jewelers division of Sterling Jewelers Inc. (Akron, Ohio) has announced plans to open a store on West 34th Street in Manhattan this month.
Terry Burman, chairman and ceo of parent company Sterling Jewelers, said expansion into Manhattan — as well as other key metropolitan markets — is an important element in the real estate growth strategy of the $1 billion, 750-store jewelry chain targeting the middle-market consumer. It currently operates a store in the Queens Center Mall in Queens, N.Y.
. “Investing in quality real estate, such as those in metropolitan areas, is one of the factors that have contributed to our industry-leading growth,” Burman said. “And, while we follow strict criteria when evaluating our real estate investments, we believe that the quality of our prime store portfolio, together with our regular investment in mall store openings, refurbishments and relocations, merchandising and marketing, clearly gives us a competitive advantage and contributes to our industry-leading results.”
The stores have traditionally been located in malls and shopping centers across the country.