Caribbean-based specialty retailer Little Switzerland, Inc., St. Thomas, Virgin Islands, and Tiffany & Co. have agreed to develop two Tiffany boutiques in Little Switzerland stores.
The boutiques will be located in Little Switzerland’s flagship store on Main Street in St. Thomas, and in the company’s Royal Plaza store in Aruba. These boutiques will be in addition to the company’s existing Tiffany boutique in Barbados and are expected to open in the second quarter of this fiscal year.
“These new boutiques will have a positive impact on Little Switzerland’s image as the leading premier duty free operator in the Caribbean and will be an important traffic draw in our flagship stores for years to come, Robert L. Baumgardner, president and CEO, said in a statement. “The scheduled opening of these two new boutiques represents an important step towards our goal of returning Little Switzerland to profitability as our Barbados store experienced strong double-digit sales increases since the opening of our first Tiffany boutique in Bridgetown in November 2001.”
Little Switzerland, Inc. is a specialty retailer of brand name watches, jewelry, crystal, china and accessories, operating 21 stores on five Caribbean islands, Key West and Alaska. The company’s primary market consists of vacationing tourists attracted by free port pricing, duty-free allowances and a wide variety of high quality merchandise.