Swatch Group expands real estate portfolio
The watch manufacturer has purchased the Harry Winston store on New Bond Street in London. It is the third acquisition in a prime international location this year.
The Swatch Group acquires a luxury property in London: The building at 171 New Bond Street has been home to a flagship salon of the in-house luxury brand Harry Winston since 2006. It was built in 1856 and comprises 562 square meters spread over five floors. According to the Swatch Group, the transaction is worth around CHF 90 million.
This is not the first luxury property that the Swatch Group has purchased this year. According to the company, a 1,347 square meter property at 32-33 Old Bond Street in London and a store on the Champs-Elysées in Paris were purchased for CHF 120 million in the first half of the year. (ah)
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