Watches of Switzerland has followed in the footsteps of Louis Vuitton and Tiffany & Co and has made the move from King Street to Raine Square.
Watches of Switzerland has followed in the footsteps of Louis Vuitton and Tiffany & Co, making the move from King Street to Raine Square.
The 23-year-old family business, founded by Eric van der Griend, opened a store in the retail precinct last week.
Watches of Switzerland managing director Sam van der Griend said he had a special affinity with Perth and its customers, and was thrilled that their new flagship boutique would open its doors as Perth enjoyed a post COVID-19 boom.
“We have always seen great opportunity in Perth, which is why our father chose it as the location of our first store some 20 years ago,” he said.
“We have weathered some storms during that 23 years, but we firmly believe that Perth is set to become a premier luxury destination in its own right.”
The store is the only point of sale for Cartier watches in Western Australia and the only place to buy a Rolex in the Perth CBD.
Mr van der Griend said while some markets had been hit hard by the ongoing impacts of the pandemic, the luxury market had grown.
“We have really seen our business grow during this time and although the pandemic delayed us in many respects, we believe now is the perfect time for us to focus on Perth and our domestic customer base,” he said.
“The new boutique is the largest Watches of Switzerland store in the county, and we are very pleased to be located alongside Louis Vuitton, with Chanel set to open next door in the near future and a number of other luxury brands which are currently looking to establish shopfronts in what has become Perth’s new luxury precinct.”
The precinct is home to other luxury brands, including Louis Vuitton, Tiffany & Co and Kailis.
Charter Hall fund manager office partnerships Trent James said the store’s opening marked another milestone for Raine Square and cemented its position as a luxury precinct.
However, reports suggest another of the precinct's major tenants is exploring other options.
Bankwest confirmed to Business News it called for expressions of interest for commercial leased premises, but said this was part of a normal review process to identify potential workplace options.
It said a decision on Bankwest's long-term occupancy at Bankwest Place would not be made for some time.
