Tiffany & Co will open its first directly operated store in Portugal in 2027, ECO News reports, thereby entering Lisbon’s luxury retail market with a site on Avenida da Liberdade.

This will add to the concentration of high-end retail on Portugal’s main luxury shopping avenue, attracting international brands and investors.

The American jewellery brand will take one of four retail units being created at Liberdade 201, which is a mixed-use redevelopment owned by real estate company Merlin Properties.

The building was once the headquarters of Banco Espírito Santo, and is now being converted for office, hospitality and retail use.

Luxury brands expand

Three of the ground-floor retail spaces have been leased by LVMH and will house the brands Tiffany & Co, Loro Piana and Celine.

Tiffany was acquired by the Arnault family’s luxury group in 2021 for 14.7 billion euros and has since been expanding across Europe.

According to LVMH’s first-half report, Tiffany and Bvlgari delivered an “excellent performance,” with the group continuing to refurbish stores and opening new ones.

LVMH said Tiffany was among the brands receiving the largest share of investment, alongside Louis Vuitton, Dior and Sephora, within total group capital expenditure of 2.061 billion euros in the period, ECO News reports.

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