Jaeger-LeCoultre opens new boutique in Vancouver, Canada
Swiss luxury watchmaker Jaeger-LeCoultre has opened a new boutique in Vancouver, the second in Canada. The new boutique which covers 85 sqm (915-square-feet) is located on Alberni Street. Last Fall, Jaeger-LeCoultre also opened a boutique in Toronto located in Canada’s premier shopping destination, Yorkdale, offering another meeting place in Canada for Fine Watchmaking lovers.
“We had three-digit growth in Canada over the past year,” says Jaeger-LeCoultre CEO Daniel Riedo at the boutique opening last week in Vancouver. “That doesn’t mean the watch market is up. It means our market share is up.”
Although Riedo admits some markets are down for Jaeger – including a 70% decline in Macao, China – he says other markets are booming, and that business was up in Europe last year by 50% to 60%, particularly in Italy, Spain and Switzerland. “I don’t feel we are in crisis,” he says. “We doubled our market share in the past five years. So if now there is some stabilization or plateau in some markets, we are still in good shape. We are coming from a time when we have had double-digit growth for several years, and now that it has leveled off, people are talking about crisis. This market is sometimes a bit greedy.”
Last Fall, Jaeger-LeCoultre also opened a Boutique in Toronto located in Canada’s premier shopping destination, Yorkdale,
offering another meeting place in Canada for Fine Watchmaking lovers.