Tiffany & Co. has announced plans to open a two-level store in Moscow’s GUM department store in Red Square.

The store will be the jeweler’s first wholly owned retail business in Russia and is expected to open in the first quarter of 2014.

“Establishing a presence at this preeminent department store is a milestone in our growth strategy as a leading global luxury brand and underscores the importance of the Russian market,” Frederic Cumenal, Tiffany’s executive vice president, said in a statement. “We’ve designed the store with the warmth and elegance that make our legendary jewelry collections a pleasure to explore, and we look forward to welcoming everyone to the Tiffany shopping experience.”

JCK