Bucherer store, with Richemont Group investment, opens in Paris this week
Housed within a heritage building at 12 Boulevard des Capucines (formerly occupied by Old England) Bucherer is opening this week the largest luxury watches and jewellery store in Paris, an investment estimated at 70 million euros by Richemont Group, which also owns the building. It is the first such third party agreement in the luxury watches and jewellery retail, where a watchmaker (owner of several brands) invests in a store which is managed by a third part, in this case Swiss based retailer, Bucherer.
The new Bucherer store covers over 2.200 sqm and features prominently all Richemont brands as weell as few select brands from competing groups Zenith (LVMH), Girrard Perregaux (Kering), Longines and Blancpain (Swatch Group) as well as independent houses of Rolex and Tudor. Notable brands absent from the portfolio of the new Bucherer store in Paris: Audemars Piguet, Breitling, Ulysse Nardin, Omega.
The new watches and jewellery mega-store in Paris aims to gather foreign wealthy shoppers who are crowding Parisian department stores Printemps and Galerie Lafayette.