High-end US jeweller Tiffany & Co plans to open a multi-storey megastore in 2014 on a prime location on the Champs Elysees avenue in Paris.

The firm — which this year celebrates its 175th birthday — already has a store in the French capital in the upscale Opera district.

Its new site,  a 976-square-metre premises at number 62 on the fabled avenue, is currently used by an outlet of the Quick restaurant chain to sell burgers.

The Champs Elysees hosts millions of tourists every year and sports a growing number of luxury outlets like the flagship Louis Vuitton store and US clothes retailers such as Abercrombie & Fitch and Banana Republic.

“Establishing this store on the Champs Elysees will be the ultimate symbol of Tiffany as a truly global luxury brand,” said the firm’s executive VP Frederic Cumenal.