The luxury watch market is undergoing somewhat turbulent times, and the main culprit is China’s economic slow down, although sales of their products have also fallen in Europe and the United States. While some brands have retreated and reduced their number of outlets in the Asian giant, it is also true that the same brands continue to expand worldwide.
The Swiss label Carl F. Bucherer, with over 90 years in the industry, just opened a boutique in Dubai at The Dubai Mall— where almost all luxury brands are represented— and another in Interlaken, Switzerland, at the foot Grand Hotel Victoria-Jungfrau. The Interlaken store has a library that compiles the history of the firm since its inception in 1888 until today.
Also, in recent months, Parmigiani Fleurier opened a space in the Miami Design District. “We felt Miami was the perfect place for our first store in the United States since the Design District is the newest shopping destination in the industry, and Miami serves as the crossroads of continents. Parmigiani relocated to its US office in the Wynwood Art District of Miami with a gallery and a showroom dedicated to promoting the visual arts, says the firm.
It is not the first small Swiss firm to venture into the American market. Roger Dubuis—part of the Richemont Group, which also owns Cartier and Montblanc among others—has continued its international expansion with a store on Madison Avenue in downtown New York. The brand, which had just opened a flagship boutique in the historic Place de la Fusterie in Geneva, plans to move on with a second boutique in the US. This time, the store will debut in Beverly Hills, California in the spring of 2016.
Finally, Tudor—Rolex’s little sister—has targeted Asia to establish a flagship store in the popular Siam Square in the Thai capital, Bangkok. It’s the third boutique the company has opened in the area—they already had two in Singapore. The new space combines all elements of the Tudor style, with minimalist furniture in black lacquered wood. ■