Breguet
Watches of Switzerland in America
“We think the luxury watch market is under-developed in the US,” says Brian Duffy, CEO, Watches of Switzerland. “We don’t think there’s enough retail, and there isn’t enough of the kind of retail we do: big flagship stores, with incredible digital support and marketing. The big brands need space and that’s what we do here in London and it works very well.”
Watches of Switzerland is opening three stores in the Greater New York area – Soho this year, Hudson Yards in March 2019 and one more later in 2019. Watches of Switzerland has also acquired the rights to retail in the Wynn in Las Vegas, with plans for four points of sale in that city.
“Along with that, people are doing more research online before they come to a store, so the days of someone coming in and saying ‘I have $10,000, what should I buy?’ are over,” he continues. “The digital world drives traffic. We have to be very active online, but have great physical stores. There’s nothing like actually putting the product on your wrist.”
According to Duffy, Watches of Switzerland has its hands full currently, but they are always looking for more opportunities. “We think we can help add to the market rather than displace what is there,” he says. “There are a lot of new developments happening in the USA and we are clearly aware of these, so we of course want to grow.”