Tiffany & Co opens $5m Raine Square store

High-end jewellery store Tiffany & Co has opened at Raine Square, the third of four luxury brands to shift from King Street to one of Perth’s newest shopping destinations.

Tiffany & Co has opened its doors to a tenancy fronting Murray Street this morning, alongside luxury handbag retailer Louis Vuitton and near premium jeweller Kailis.

City of Perth building application documents indicate the Tiffany & Co fitout cost $5.4 million.

Tiffany & Co Australia and New Zealand managing director Glen Schlehuber said the firm was excited to relocate from King Street to Raine Square.

“The new boutique will provide our clients with the renowned quality, craftsmanship and style they expect from Tiffany, in a beautiful new environment,” he said.

Charter Hall office partnerships fund manager Trent James said the arrival of Tiffany & Co was a significant milestone for Raine Square, in the wake of its $90 million retail redevelopment.

Luxury watch brand Watches of Switzerland, an official Rolex retailer, will be the next King Street tenant to shift to Raine Square.

While King Street’s reputation as Perth’s luxury lifestyle precinct has taken a hit from the departures, it remains home to several premium international brands, including Gucci, Prada, Chanel and Miu Miu.