DEFYING SIGNS of recession, Dublin's Grafton Street hosted its second major fashion store opening in 48 hours yesterday when Brown Thomas cut the ribbon on its fine-jewellery hall - housing Cartier, Tiffany and Theo Fennell boutiques.
The €5 million development was opened by model and actress Kelly Brook just a day after the hoardings came off the neighbouring, free-standing Tommy Hilfiger shop, which carried a near-identical price tag.
The fine-jewellery project was initiated two years ago in less-straitened times and Nigel Blow, chief executive officer of Brown Thomas, admitted: "The market is tough out there at the moment." He remained upbeat, however. "This will bring a huge lift to Grafton Street, which is what we wanted," he said.
The opening caused a stir as crowds gathered to catch a glimpse of UK television celebrity and former lingerie model Kelly Brook, who was dressed in a long silk Prada evening gown and wore elaborate Cartier jewellery.
Conscious that firms such as Cartier and Tiffany date from the 1840s, and survived even the Wall Street crash of 1929, Mr Blow said: "We are not doing it for now, but forever. It's a great time to be doing something innovative."
The new jewellery hall, some 8,000 sq ft in size, also has a special section for expensive watches from companies such as Audemars Piguet, Longines, Bell Ross Blancpain and Montblanc as well as exclusive labels Panerai and Roger Dubuis.
A global theme was also echoed in the store's Christmas window displays designed by John Redmond, which were also unveiled by Ms Brook. The displays celebrate festive traditions from world cultures including France, Russia and India. Phase two of the jewellery hall development will open in the spring of 2009.