Luxury brand watches, such as Cartier and Montblanc will be housed under one 2,200 square metre roofs, sure to lure even more Middle Eastern and Asian tourists to one of the hearts of Parisian shopping Swiss Richemont and Bucherer, specialists in luxury products, are preparing to open the biggest watches business in the world in 2013 in fashion capital, Paris. The building will be no less than a three floors and 2,200 square metres worth of space within two steps from the elegant Place Vendome, an area known traditionally as a top luxury jeweler neighbourhood in Europe. The place, where there was formerly the local landmark "Old England," attracts many tourists from the Middle East and Asia, which are the main target of the new initiative. Richemont declined to comment on the trade publication, Business Montres, article, which stated "watch lovers will find here a selection of premium products, including most celebrated and prestigious brands, with an exclusive atmosphere." The Richemont group owns well-known brand watches, among which are: Cartier, Vacheron-Constantin, Piaget, Jaeger-LeCoultre, Montblanc and Baume & Mercier. Seventy million euros was the hefty price Richemont paid for for dibs on the prime Parisian location. The locale will be managed by the distributor of Swiss luxury watches, Bucherer. The location also has the advantage of proximity to the Galeries Lafayette and Printemps, two Parisian shopping.
