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Iconic Fifth Avenue Tiffany&Co Building is Ravaged by Fire After $500m Refurbishment

A fire torched through parts of the newly-refurbished Tiffany & Co. building on Manhattan’s iconic Fifth Avenue on Thursday morning.

Photos from the store, which is directly adjacent to Trump Tower, show crews of FDNY firefighters tackling the blaze which began as an underground street fire, according to a spokesman for the fire department.

The source is believed to be an electrical vault.

Employees were seen being taken to the hospital in ambulances. The fire occurred at around 9.38am – just as staff were preparing to open the store to customers.

Store floor staff and chefs from the sixth floor Blue Box Café were among those on the street watching the smoke billowing through windows.

The building was recently reopened following a lengthy and expensive refurbishment. Stars like Katy Perry, Hailey Bieber and Blake Lively attended its grand reopening in April.

The store is on a highly-prized corner of Manhattan shopping real estate – it shares the block with Trump Tower.

LVMH, the European luxury brand power house, bought Tiffany in 2021 for $16billion.

The renovations were estimated by some experts to have cost $500million.

Bernard Arnault, LVMH’s chairman and owner, would not confirm the figure earlier this year when interviewed about the opening.

He described renovating the entire building – first opened in 1940 – to make each floor different.

‘We got lost in the building. Here is a guy getting lost in his own shop. I said, “We have some work to do on this.”‘

Part of the renovation was the addition of The Blue Box Café on the sixth floor.

The first floor is occupied with an expansive showroom and store. There are ten floors total – half of which are open to the public.

In a statement, a Tiffany’s spokesperson said: ‘This morning prior to store opening hours, an electrical fire broke out in the basement on the periphery of the Tiffany Landmark on Fifth Avenue in New York City.

‘The fire has since been put out and we are working with the New York Fire Department to take precautionary measures to ensure the safety of our employees and clients.

‘The store is expected to open later today following inspection by the Fire Marshal.’

The flagship store opened in 1940 but was made famous around the world 21 years later in Breakfast At Tiffany’s.

Its iconic windows are where Audrey Hepburn, playing the penniless Holly Golightly, gazed at diamonds and pearls while nibbling croissants after a night on the town.

In January 2020, the store – pending the LVMH deal – closed for refurbishments that were due to only take a year.

The deal faltered during the early phases of the COVID-19 pandemic and renovations took longer than expected. It finally reopened in April.

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