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Luxury jewelry retailer Tiffany & Co. is reportedly ending its $7 million annual lease with the Trump Organization

Luxury jewelry retailer Tiffany & Co. is reportedly ending its $7 million annual lease with the Trump Organization


REUTERS/Arnd Wiegmann




Tiffany & Co. has leased space from the Trump Organization since 2018, but will vacate next year, per a new report.




The five-story space in a Trump-owned building formerly housed 'NikeTown.'




Trump properties have lost value overall since 2016.




Visit the Business section of Insider for more stories.


The Trump Organization is losing a tenant named Tiffany, and it's not the boss's daughter. Tiffany & Co. is leaving a Trump-owned building and returning to its flagship location, according to Bloomberg.Bloomberg reported on Fridayhttps://www.independent.co.uk/news/world/americas/tiffany-s-lease-trump-organisation-b1805778.html that the fine jewelry retailer would be ceasing to lease retail space in the building on East 57th Street owned by the Trump Organization.Tiffany & Co. had rented the space while its flagship location on New York's Fifth Avenue was undergoing renovations. The move won't be happening until midway through 2022, according to the report.Spokespersons for Tiffany & Co. and the Trump Organization did not immediately respond to a request for comment.
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