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The luxury group Richemont is partnering with watch retailer Gübelin. This collaboration has resulted in the opening of a multi-brand boutique in Lucerne, Switzerland.
The world’s third largest luxury goods group is strengthening the distribution network of its houses by joining forces with Gübelin. This is the first Swiss establishment of the brand, which until now has been established mainly in Asia.
Raphael Gübelin, president of the eponymous company, says: “This collaboration with TimeVallée allows us to diversify our business and offers a wide range of brands in Lucerne.”
TimeVallée, the “Eldorado” of Swiss watchmaking?
TimeVallée was founded in 2014 by the Richemont Group, which owns renowned brands such as Cartier and Vacheron Constantin, among others. The brand has a network of about 30 boutiques, run by independent retailers, particularly in Asia.
In the new 1,000 square meter Swiss unit, some 20 luxury watch brands will be sold. In addition to the brands belonging to the Geneva-based group, LVMH group watch brands such as Tag Heuer and Bulgari and independent brands such as Parmigiani and Oris will be represented. The Gübelin jewelry brand will also be on display.
Jérôme Lambert, CEO of the Richemont Group, said in a teleconference last year: “We will open such boutiques where we see a need. When our traditional partners need an additional channel to develop business.
An evolution that remains timid
This project marks a new era in Switzerland for the global luxury group, which is second only to LVMH. However, some watchmakers and retailers remain skeptical about the TimeVallée concept.
Watches of Switzerland, one of the most important British retailers, admitted in 2021 that it did not want to collaborate with Richemont on this project. An offer that the Geneva-based company had submitted to it a few years earlier.
On a more general level, Richemont remains cautious. The Lucerne region has not escaped the pandemic and health restrictions, impacting sales. Many tourists, particularly from the Asian continent, have deserted the streets and stores of the region.
However, the Swiss luxury goods and watchmaking sector has recovered from the pandemic. Watch exports rose by 11.4%, or 14.1 billion Swiss francs, in the last seven months of 2022.
Read also >Richemont shareholders did not elect Francesco Trapani
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The luxury group Richemont is partnering with watch retailer Gübelin. This collaboration has resulted in the opening of a multi-brand boutique in Lucerne, Switzerland.
The world’s third largest luxury goods group is strengthening the distribution network of its houses by joining forces with Gübelin. This is the first Swiss establishment of the brand, which until now has been established mainly in Asia.
Raphael Gübelin, president of the eponymous company, says: “This collaboration with TimeVallée allows us to diversify our business and offers a wide range of brands in Lucerne.”
TimeVallée, the “Eldorado” of Swiss watchmaking?
TimeVallée was founded in 2014 by the Richemont Group, which owns renowned brands such as Cartier and Vacheron Constantin, among others. The brand has a network of about 30 boutiques, run by independent retailers, particularly in Asia.
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The luxury group Richemont is partnering with watch retailer Gübelin. This collaboration has resulted in the opening of a multi-brand boutique in Lucerne, Switzerland.
The world’s third largest luxury goods group is strengthening the distribution network of its houses by joining forces with Gübelin. This is the first Swiss establishment of the brand, which until now has been established mainly in Asia.
Raphael Gübelin, president of the eponymous company, says: “This collaboration with TimeVallée allows us to diversify our business and offers a wide range of brands in Lucerne.”
TimeVallée, the “Eldorado” of Swiss watchmaking?
TimeVallée was founded in 2014 by the Richemont Group, which owns renowned brands such as Cartier and Vacheron Constantin, among others. The brand has a network of about 30 boutiques, run by independent retailers, particularly in Asia.
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