The middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.
Citizen opening its own store in New York
Citizen Watch Co. has announced plans to open a flagship store in Times Square this November. It will be the brand’s first concept store in North America.

New York-based architectural firm Mapos LLC is working on the more than 1,300-square-foot space, which will sell watches with Citizen’s Eco-Drive Satellite Wave technology, the Promaster series and new collections of women’s watches set with diamonds.
RELATED CONTENT: Live from Basel: 5 watches from Citizen
“As a truly global brand, Citizen Watch Co. represents people from throughout the world, so there is no better place than Times Square to share our international brand message,” said Citizen Watch President and CEO Toshio Tokura.
Citizen’s announcement comes on heels of standalone store announcements from other watch brands; Japanese brand Seiko announced in December that it would be opening a high-end boutique on Madison Avenue in New York City in 2014.
RELATED CONTENT: Seiko opening high-end boutique in the US
Swatch Group also brought its multi-brand retail store, Hour Passion, to the U.S. market in late 2013, opening stores in New York and Las Vegas.
Another brand, Bovet 1822, opened a store on Central Park South in New York last December.
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