Swatch Group, the globally recognized leader in watches and jewelry, has made a significant move in London’s prestigious property market. The company recently announced its acquisition of a prime property located at 171 New Bond Street.
For many years, this iconic property has been the esteemed home of Harry Winston, a renowned name in luxury watches and jewelry. Serving as the London flagship of Harry Winston since 2006, the property underwent an extensive renovation in 2016. Today, it stands as a showcase for Harry Winston’s finest collections, featuring some of the world’s rarest diamonds and precious stones.
Swatch Group values this strategic acquisition at approximately CHF 90 million (€93 million/£80 million/$98 million). The historic building, with its roots dating back to 1856, offers an expansive space of 562 square meters spread across five floors.
This move is part of Swatch Group’s dynamic property acquisitions in 2023. In the first half of the year, the group secured an impressive 1,347 square meters at 32-33 Old Bond Street for approximately CHF 120 million. Additionally, Swatch Group expanded its footprint with a store on the prestigious Champs-Elysées in Paris.
Bond Street, renowned for its opulence, has reestablished itself as one of the world’s most exclusive shopping destinations. It boasts not only luxury products but also premium rental and property prices. The area is currently witnessing a flurry of upsized and upgraded openings, including the grand reopening of Burberry after an extensive two-year renovation and the recent debut of Gucci’s flagship store last month.
Swatch Group’s strategic property acquisitions reflect its commitment to enhancing its presence in iconic luxury destinations.