World-renowned jewellery retailer Tiffany & Co has announced plans to sell its stunning platinum jewellery in a new store in Japan.

The company, which recently made the Stores magazine Hot 100 Retailers list, will open the boutique in Nagoya, which is already "a vibrant area of luxury shopping and restaurants".

It will be Tiffany's third store in Nagoya and it represents the company's attempt to capitalize on soaring demand for luxury jewellery in Japan.

Platinum jewellery, in particular, has been exceptionally popular in Japan in recent years, with high-end manufacturers launching some remarkably innovative products to promote their operations.

In June, for example, Ginza Tanaka produced a beautiful platinum handbag, studded with 2,182 diamonds, which was put on sale for £1.63 million. The same company also produced a platinum version of the Hello Kitty doll last year, which sold for approximately £12,500.

Earlier this year, Ginza Tanaka then launched a platinum version of the Gundam anime character, with a retail value of £125,000.

It is against this backdrop of platinum ingenuity that Tiffany will launch its new store, hoping to capitalize on Japan's enthusiasm for all things platinum.

Mike Christ, Tiffany Japan president, said: "We are pleased to join the Matsuzakaya Honten in Nagoya and look forward to building a relationship with their loyal clientele."

Tiffany has revealed it will sell "a lavish array of diamonds in platinum settings" as well as collections by the likes of Paloma Picasso, Jean Schlumberger and Frank Gehry.