This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

MIDTOWN, Manhattan — Tiffany & Co.’s flagship Fifth Avenue location is one of the most recognizable jewelry stores in the world.

But even icons can use a facelift!

Tiffany & Co. closed down its famous store and opened “Tiffany Flagship Next Door” just around the corner on East 57th Street.

The flagship store, which has been at 727 Fifth Ave. since 1940, is undergoing some serious renovations.

Marysol Castro spoke to Reed Krakoff, the chief artistic officer. “It’s a two-year renovation and restoration. The store hasn’t been restored in 80 years. It was time for the elevators and lighting to get an upgrade. But we also are updating the way the customer travels through and experiences the store.”

In the meantime, “The Store Next Door” won’t disappoint.

Krakoff said he hopes that first and foremost customers see the magic of Tiffany’s.

Tiffany had to move 115,000 pieces of jewelry next door, so they hired 30 security guards to watch as the jewelry was rolled along the sidewalk.

There were also 300 security cameras monitoring both Tiffany stores and the route along the sidewalk.