GENEVA, Switzerland: Piaget, the luxury watch brand from Switzerland, will be opening more stores in 2021, especially in the Middle East and China, Chief Executive Chabi Nouri has told Reuters.
"We'll open more stores this year. We'll reopen a flagship store in Beverly Hills and also have projects in the Middle East and China," Nouri noted in an interview at the Watches and Wonders online event held last week.
Piaget, with its array of well-known sleek and slim timepieces, has opened 130 brand-specific outlets and has a network of 300 retail partners.
Piaget said in a January statement that high demand from China had driven sales to increase by five percent in the last quarter of 2020.
Nouri noted that Piaget, which also creates watches encrusted with gems, diamonds, and jewelry, had bolstered its e-commerce presence while remaining focused on its own outlets, retail partnerships, and online selling to assist the distribution process.
Nouri stated that in the wake of the coronavirus disease pandemic, Piaget was left with no choice but to reassess its strategies on connecting with its customer base and partners, though not impelling it to make adjustments to its product line.
At the Watches and Wonders event, Piaget displayed timepieces, including the Limelight Gala Precious Rainbow gold model that is bedecked with colorful rainbow-hued sapphires and is priced at $106,922.99.