ZURICH: Watches of Switzerland is considering buying more stores in the United States and predicted on Tuesday that luxury watch demand will hold up in the U.S. and Britain, where it has just bought four shops from Fraser Hart.
"Today you need more scale to participate and do the marketing, also online, so some of the small retail operations will come up for sale," Brian Duffy told Reuters. Small retailers going out of business have fueled consolidation, leading to the emergence of big champions like Watches of Switzerland, formerly Aurum Holdings, or Swiss group Bucherer that has also bought businesses in the U.S.Duffy said successful retailers had to be actively exploiting all channels, including online sales and digital communication, but also events to reach younger customers.
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