Three Jakarta locations of luxury jewelry brand Tiffany & Co. have been shut down by authorities.

This is due to the company being suspected of illegal importation of high-priced products.

Tiffany & Co. Locations Closed by Authorities

According to a report by The Jakarta Globe, Finance Minister Purbaya Yudhi Sadewa stressed that all business must comply with government regulations regarding importation.

"In principle any company that imports goods illegally will be shut down and sealed," said Purbaya. "Everything must be legal."

He further emphasized that the closures are part of the Indonesian Customs and Excise Office’s mandate.

"They are carrying out their duties so our market is free from illegal goods and so domestic players can compete fairly,” the Finance Minister pointed out.

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Where Are These Tiffany & Co. Stores Located?

Tiffany & Co., which is owned by LVMH, lists on its official website the three Indonesian locations for the brand. One is located in the Pacific Place Mall.

The second is located in Plaza Indonesia Mall, while the third and last location is in Plaza Senayan.

As these three stores remain closed, authorities are now in the process of comparing the inventory with what has been declared in the documents submitted by the company to the government, according to The Jakarta Globe.

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