Luxury department store Harrods will no longer offer Swatch Group watches in the future
The Fine Watch Room at the famous London department store Harrods will no longer stock watches from Nick Hayek's group. The Swiss watch group wants better retail space.
A company spokeswoman confirmed this to Handelszeitung: "The space that Harrods is offering us does not meet our needs." The parties have therefore agreed to renegotiate at a later date. The Swatch spokesperson only vaguely describes when this will be: "As soon as better opportunities arise."
The watch department at Harrods is one of the most important outlets for luxury Swiss watches in London. With the weakness of the pound in the wake of the Brexit decision, the Fine Watch Room - like all watch retailers in London - has experienced a veritable boom. The sales area is currently being massively enlarged and extended over two floors. The major watch brands are therefore competing for the best space. Among the winners of the scramble are three brands from Swatch's arch-rival Richemont.
