Tiffany & Co. said that it has authorised the additional repurchase of its shares and has also extended the deadlines for repurchasing. The shares are valued at $500 million of the common stock.%%With the increase, Tiffany will be able to repurchase up to $637 million of its shares through January 31, 2011. Also Tiffany's staunch investor Nelson Peltz has increased his stake to 7.9% and now owns 10.71 million Tiffany shares. According to Michael J. Kowalski, chairman and chief executive officer at Tiffany & Co., “This new authorisation clearly expresses our board's confidence in Tiffany's business and growth potential, and enables us to continue to opportunistically repurchase shares and return excess capital to stockholders.”%%Tiffany had made such an increase in August 2006, when it authorised the repurchase of up to $813 million stock through December 31, 2009. Tiffany is now planning to open a boutique in Tokyo's Matsuzakaya Ginza department store and another in Fukuoka's Hakata Daimaru department store by March 1, 2008.