Jewellery group signs 10-year lease with Trafford Centre
The Watches of Switzerland Group has signed a new 10-year lease with The Trafford Centre for a flagship store in a new location which is expected to open in the summer of 2021.
The FTSE 250 luxury watch retailer will relocate its Goldsmiths store to The Trafford Centre’s Main Dome on the upper level, which will house a new stand alone fascia for a TAG Heuer boutique.
Goldsmiths’ expert team will introduce customers to its impressive collection of watch brands, as well as luxury jewellery and its watchmakers will be on hand to provide servicing and repairs. The bigger store will be complemented by the iconic designs available at TAG Heuer.
Shoppers will be guided by the brand’s in-store experts, with the opportunity to touch and try on high-end items before they invest.
With an almost 60% increase in share value at the end of 2020, despite the pandemic, the company is looking towards footfall at The Trafford Centre to continue building on that momentum through the summer and beyond.
The Watches of Switzerland Group said that, due to the very nature of elite timepieces, supply often outstrips demand, so it has taken time during the pandemic to pivot and focus on reducing waiting lists for its domestic market.
Nick Williams, senior director – CBRE, The Trafford Centre asset manager, said: “Goldsmiths is a long term and much valued retailer at The Trafford Centre and the signing of a new 10-year lease for a larger store, as well as the addition of the TAG Heuer boutique, highlights the anticipated demand for such luxury goods after the challenges of the last few months, in the same way we experienced in 2020.
“The Trafford Centre is an established destination for customers that seek high-end, luxury brands so we know that expanding our relationship with Watches of Switzerland will be well received.”
Craig Bolton, executive director for the Watches of Switzerland Group, said: “We are delighted to sign a new lease with The Trafford Centre.
“We have been present in the centre for a number of years and we are delighted to be opening a new Goldsmiths Store, a TAG Heuer Boutique and also significant space for Tudor, as well as our jewellery brands. We look forward to opening our new store and continuing our partnership with The Trafford Centre.”
Cushman and Wakefield advised The Trafford Centre on retail leasing and Metis Real Estate Advisors on food, beverage and leisure leasing.