Swiss watchmaker Breguet has relocated its standalone store in Singapore, in a bid to improve retail operations in Asia, as watch sales look to increase in the region.
Located in Marina Bay Sands, the new boutique was reopened with a ribbon-cutting ceremony attended by brand management and clients. The luxury watchmaker relocated from its 115 square-metre store to a 134 square-metre space in the premier luxury shopping destination The Shoppes.
The Swatch Group Singapore & Malaysia management, the operators of Breguet in the region, welcomed sixty VIP guests for an evening doused in the theme “East-meets-West”, said the brand.
It’s been a tough twelve months of trade for Swatch. In February, Swatch Group said profits were nearly halved in 2016 as global watch market weakness took its toll. However, an uptick in sales in Asia toward the end of last year, namely in China, saw the watchmaker predict a healthier year ahead.
Watch and jewellery sales dropped by just under 11 per cent as a marked slowdown in 2015 ran into early 2016, it said.
The end of last year, however, saw fresh movement in sales, especially in China, Swatch said.
“The months of November, December and January showed, particularly in mainland China, very good growth in the watches and jewellery segment, with a substantial improvement in operating margin,” the group said in a statement.
“Based on the positive development of the last three months, healthy growth is expected for the year 2017,” it said.
Founded in 1775, Montres Breguet is synonymous with prestigious Swiss watchmaking. Swatch Group acquired Breguet in 1999 from Investcorp, placing it alongside Swatch stable mates Omega, Longines, Hamilton and Calvin Klein watches.
