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Watches of Switzerland Sets Sights On Expansion
The company will be opening mono-brand TAG Heuer, Breitling and Omega boutiques in five states.
The company announced last week it will open eight mono-brand boutiques in partnership with Breitling, LVMH-owned TAG Heuer, and Swatch Group-owned Omega across five key U.S. markets.
The new stores are slated to open in: Roosevelt Field mall in Garden City, New York (TAG Heuer and Omega), the King of Prussia mall in Pennsylvania (TAG Heuer and Breitling), The Gardens mall in Palm Beach Gardens, Florida (TAG Heuer and Omega), the Valley Fair mall in San Jose, California (Breitling), and The Mall at Green Hills in Nashville, Tennessee (Breitling).
The two Omega stores will open before the end of the year. The three new Breitling boutiques are also set to open in 2020, and more may be on the way, Breitling CEO Georges Kern indicated.
“We look forward to expanding our partnerships with the Watches of Switzerland Group in 2021 and introducing Breitling to even more major metropolitan areas in the United States,” Kern said in a press release.
The three TAG Heuer stores will be the brand’s first franchise boutiques in the United States. They will open in time for the holidays, between late November and early December, the watch brand said.
“This milestone expansion is a testament to our relationship with the Watches of Switzerland Group, a partner we celebrate 11 franchise boutiques with in the United Kingdom, and three that will now help strengthen our presence and client experience in key locations in North America, our strongest region worldwide,” Frédéric Arnault, CEO of TAG Heuer, said in a press release.
Watches of Switzerland did its homework before choosing the locations, researching each mall to determine the average sales per square foot and the local consumer profile.
The spots were chosen based on their adjacency to other luxury stores, regional demographics, and the current distribution of the brand.
Watches of Switzerland entered the U.S. watch retail market two years ago, opening its first U.S. flagship in New York City’s SoHo neighborhood.
It also has stores in Las Vegas, Boston, Miami and Atlanta.
The last two years have shown the company’s ability to succeed in the North American market, said David Hurley, executive vice president of Watches of Switzerland Group USA.
“Since its acquisition of Mayors in 2017, followed quickly by the opening of Watches of Switzerland SoHo, the Group has shown its acute command of the U.S. market and deep understanding of its discerning and diverse clients,” Hurley said.
The company ranks No. 27 on National Jeweler’s 2020 list of $100 Million Supersellers, with an estimated $234 million in sales in its most recent fiscal year.
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