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The historic Place Vend\u00f4me jeweler<\/strong><\/b>, which recently celebrated the 30th anniversary of its iconic Quatre collection,opened<\/strong><\/b> its first American flagship storeon Madison Avenue<\/strong><\/b> in New Yorkon September 10<\/strong><\/b>. The brand had already set foot in the United States, but closed its boutiques in Hawaii and San Francisco a few years ago.<\/p>\n <\/p>\n <\/p>\n Halfway between a residential neighborhood and the epicenter of New York luxury<\/strong><\/b>, on the island of Manhattan, lies the Upper East Side<\/strong><\/b>. This New York neighborhood is known as the bastion of American<\/strong>\u201cOld Money\u201d<\/strong><\/em><\/b>.<\/p>\n <\/p>\n The area is not only home to the private Florence Ballard High School, itself strongly inspired by the Nightingale-Bamford School attended by Cecily von Ziegesar, author of the Gossip Girls<\/strong><\/b> series (2007). The Rockefellers, Vanderbilts and other Astors<\/strong><\/b> also took up residence in this chic neighborhood as early as 1890, on Madison Avenue to be precise.<\/p>\n <\/p>\n It was in this landmark neighborhood, at 747 Madison Avenue<\/strong><\/b> to be precise, that jeweler Boucheron, property of Kering group, inaugurated its first physical New York boutique<\/strong><\/b>.<\/p>\n <\/p>\n <\/p>\n The event was attended by American actress and businesswoman Gwyneth Paltrow<\/strong>, Riverdale star actor and director Cole Sprouse<\/strong>, influencer Ari Fournier<\/strong>, fashion photographer Ellen Von Urwerth, <\/strong>American singer-songwriter Hailee Steinfeld<\/strong>, revealed in the film True Grit, and singer Mina Myoi<\/strong> of the K-pop group Twice, as well as friends of the House, namely Polish model Anja Rubik<\/strong> and British TV host and model Alexa Chung<\/strong>.<\/p>\n <\/p>\n \u201cAmerica was a market waiting to happen <\/strong>,”<\/strong><\/em><\/b> said CEO H\u00e9l\u00e8ne Poulit-Duquesne<\/strong><\/b> at the opening on September 10.<\/p>\n <\/p>\n This first flagship, featuring a touch of New York Art Deco style<\/strong><\/b>, spans 362 sq. m<\/strong><\/b> (3,900 sq. ft.), reflecting all the family experience of the historic Place Vend\u00f4me store, founded by Fr\u00e9d\u00e9ric Boucheron in 1858.<\/p>\n <\/p>\n <\/p>\n Interviewed by WWD, Boucheron’s CEO said that \u201cthe boutique serves as a bridge between Paris and New York<\/strong><\/b> and is linked to Boucheron’s flagship store at 26, Place Vend\u00f4me, Paris [renovated in 2018]\u201d.<\/p>\n <\/p>\n The inauguration of Boucheron’s first New York address kicks off a<\/strong><\/b> whole program of festivities<\/strong><\/b>. An immersive event<\/strong><\/b> is planned in New York from September 10 to 12 to showcase Boucheron’s DNA, followed by the presentation of \u201cOr Bleu\u201d,<\/strong><\/b> Boucheron’s new Carte Blanche Haute Joaillerie collection, and the U.S. preview of Quatre 5D Memory<\/strong><\/b>, the Maison’s latest jewelry innovation.<\/p>\n <\/p>\n <\/p>\n \u201c It’s a dream come true.<\/em> The United States has always held a special place in our history.<\/em> Our customers have included the <\/em>greatest American families and Hollywood stars<\/strong><\/em><\/b>.<\/em> Today, we want to make ourselves better known and<\/em> familiarize Americans with the world of Boucheron<\/strong><\/em><\/b> \u201d, declared the CEO.<\/p>\n <\/p>\n She added : \u201cOur watchwords are innovation, creativity and self-expression.<\/em> We are delighted to <\/em>offer a unique vision of fine jewelry – emotional, alive and designed to be worn, not hidden<\/strong><\/em><\/b>.”<\/em><\/p>\n <\/p>\n By targeting the American market, Boucheron marks the beginning of a planned expansion<\/strong><\/b> with several launches in major American cities. The jewelry house plans to open further physical boutiques in Las Vegas, Los Angeles and Miami by 2025.<\/strong><\/b><\/p>\n <\/p>\n <\/p>\n When H\u00e9l\u00e8ne Poulit-Duquesne took over the helm in 2015, the Maison had just closed its only two American boutiques, based in Hawaii and San Francisco<\/strong><\/b>. Since then and until now, Boucheron’s distribution on American soil has relied exclusively on luxury department stores, namely: Saks Fifth Avenue, Neiman Marcus and Bergdorf Goodman.<\/p>\n <\/p>\n At the inauguration of the New York flagship, the CEO emphasized the brand’s maturity<\/strong><\/b>, saying: \u201c Today, China and Korea are major markets, and we can reinvest in the United States.<\/strong><\/b> \u201cYou have to insist for a long time and be very patient to establish yourself in the United States,\u201d she continued, adding that \u201d [ America] needs a lot of investment<\/strong><\/b> to do things right.\u201d<\/p>\n <\/p>\n Madison Avenue<\/strong><\/b> (between 57th and 72nd Streets), home to Herm\u00e8s’ four-storey flagship in 2022<\/strong><\/b>, has long been more competitive than its neighbor, 5th Avenue<\/strong><\/b> – considered by Cushman & Wakefield to be the world’s most expensive shopping thoroughfare at 20,384 euros\/sq.m\/year ($22,619). But it is now caught up in a crisis in retail space availability<\/strong><\/b>, leading to a rise in rents not seen since the fourth quarter of 2023. Considered the second most expensive shopping street in the United States<\/strong><\/b>, Madison Avenue has an average rent of 12,740 euros\/sq.m\/year, or $14,137<\/strong><\/b>.<\/p>\n <\/p>\n Tiffany & Co opened its ten-storey flagship, The Landmark, on 5th Avenue in April 2023.<\/p>\n <\/p>\n <\/span><\/p>\n <\/span><\/p>\n \t\tIn the heart of the Upper East Side<\/h2>\n
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Second phase of global expansion<\/h2>\n\n
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