Building success. (Photo credit: @watchyouare)
Construction is underway for a new Rolex boutique on Bond Street, in London, to be operated by Watches of Switzerland.
The boutique will become the largest Rolex showroom in Europe, the latest sign Rolex continues to consolidate points of sale as it grapples with product shortage. Watches of Switzerland will close the other Bond Street location. Wempe closed its Bond Street boutique last year after Rolex cancelled its contract. The news was first reported by WatchPro.
Last year, Rolex also opened flagship boutiques in Dublin, Seattle and announced the acquisition of Bucherer, the largest Rolex retailer in the world. It is currently building a 28-story flagship location in Manhattan.
I wrote here about Rolex’s growing investment in real estate whose returns have outstripped the sale of watches, according to a former Rolex executive.