The death of the midrange price segment has been greatly exaggerated. At least the Swatch Group thinks so.
The world’s largest watch manufacturer is bringing its multi-brand retail concept, Hour Passion, to the United States for the first time, with two stores in New York City and Las Vegas focusing on brands in the midrange price segment, including Longines, Rado, Tissot, Balmain, Certina, Mido, Hamilton, Calvin Klein Watch and Jewelry, Swatch, and Flik-Flak.
The first boutique, a 2,500-square-foot space on 34thStreet in Manhattan, is expected to open in late November. The second—a 1,500-square-foot space located in the Aria Resort & Casino in Las Vegas—will open soon after, according to the company.
The facade of the Hour Passion boutique in New York City (photo courtesy of Swatch Group)
“The U.S. market and the American consumer are very important to us,” Nick Hayek, president of Swatch Group Management Board, said in a statement. “We feel that they should be served in the best way possible. The outstanding Hour Passion boutiques in New York and Las Vegas will give consumers a chance to experience some of our finest brands.”
The Hour Passion boutique at Aria in Las Vegas (photo courtesy of Swatch Group)
The Hour Passion multi-brand retail concept debuted in 2004, and now numbers some 50 boutiques in Switzerland, the United Kingdom, France, Ireland, Germany, Italy, Spain, Russia, Poland, Malaysia, and China, most of them located in airport terminals.
The interior of the New York City boutique (photo courtesy of Swatch Group)