In the great land of great events, this one was pretty grand. Tiffany & Co. unveiled its new flagship store in Sydney last night with Kendall Jenner as its top-billed star flying in for just 24 hours to make an appearance on King Street. To quote Jenner’s celebrity hair stylist, Jen Atkin, “the Kendall-bird was in her natural habitat” in a show-stopping, bubble-gum pink Ingie Paris dress from the spring 19 collection, it’s tiered ruffles set off against Tiffany’s pink tourmaline and sapphire butterfly necklace from the label’s Blue Book collection. According to The Daily Telegraph, the 23-year-old was paid a staggering $500 000 to attend – and spend up to one hour on the black carpet with press.

Inside, amid a flowing supply of Veuve, Sydney’s elite ogled at one of the largest and finest fancy yellow diamonds in the world; the Tiffany Diamond. Made famous by Audrey Hepburn in 1961 and Lady Gaga as she nuzzled into Bradley Cooper at this year’s Academy Awards, the 128.54 carat diamond was transported from New York’s Madison Avenue flagship to Sydney for the night. In fact, it felt like a slice of New York had uprooted to smack bang in the middle of our luxury precinct – decorated of course with 300 of Sydney’s colourful characters.

February 24: Lady Gaga and Bradley Cooper perform at the Oscars. The singer wears the Tiffany Diamond Necklace.

With new 10-metre-high ceilings, guests mingled between duel levels and amid a selection of the world’s most precious “high jewellery” and exceedingly rare creations. In the brand’s 182-year history, the reimagined Sydney store is now considered one of the top ten flagships worldwide. “Renewing our presence in the world’s most important cities is a critical part of our strategy as The Next Generation Luxury Jeweller,” said Alessandro Bogliolo, chief executive officer of Tiffany & Co. “Our new store on Pitt Street delivers an exciting and enhanced store experience full of discovery, and reflects our modern and evolving brand.”

At 9.30pm, waiters yielded flashing blue lights – Tiffany blue to be correct – guiding guests to the after party in the underground carpark. Smoke machines, blue lights, a blue taxi and French fries greeted the intimate crowd as did Harlem-born rapper A$AP Ferg who performed a four-track set, his partner Renell Medrano offering napkins to wipe the sweat off the man who could well-afford the aforementioned yellow diamond.

The brand has forever touted the Tiffany Blue box as being a sign of wonderful things to come. And if last night is anything to go by, Sydney, that promise will be kept.

Influencer Yan Yan Chan gives you an exclusive peek into the night here:

Video by Gemma De Maria.