News Flash

Swatch Group to open watch stores with Tourneau

06 Apr '06

2 min read

World's largest watch company, The Swatch Group Ltd announced new retail partnership to open a chain of watch stores in premium outlet malls across the United States with Tourneau, the world's largest watch store, as recognized by Guinness World Records.

The joint venture, doing business under the name Tourneau, includes pioneering new watch retail stores in several luxury outlet malls in the US and signals a new chapter in the relationship between the two industry titans and within the watch category overall.

Commenting on the partnership, Tourneau CEO Robert Wexler said, "It is common to find many luxury brands at premiere outlet malls around the US We are delighted to be taking the watch category into this arena offering a multi-brand experience in partnership with The Swatch Group's many brands."

G. Nicolas Hayek, Jr., CEO of The Swatch Group Ltd said, " American consumers love our brands. Tourneau has since long been one of our strong partners in the U.S and the opportunity to open multi-brand outlet stores looks more than promising."

While no leases have been procured yet, initial plans for the new joint venture include targeting the major luxury outlet malls outside New York City, New York, Los Angeles, California, Las Vegas, Nevada and Orlando, Florida.

Largest finished watches producer Swatch Group Ltd is in Biel (Switzerland) today the largest producer and distributor of finished watches in the world. In terms of sales (in Swiss francs) the Swatch Group represents some 25 percent of the watch production sales in the world.

Swatch Group

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