Cartier Plans US Store Expansion on Strong Demand for Luxury
- Watchmaker eyes turning temporary shops into permanent ones
- CEO says more square footage needed because traffic is high
An employee prepares for customers at a Cartier store in London.
Photographer: Simon Dawson/BloombergCartier, the French maker of upscale watches and jewelry, plans to open as many as 10 stores in the US in the coming years -- another sign that European luxury brands are betting American demand will remain robust.
The company, owned by luxury conglomerate Richemont, is likely to turn a temporary shop in Palm Beach, Florida, into a permanent one, Cartier’s North America Chief Executive Officer Mercedes Abramo said during an interview. It’s considering permanent stores in other cities, such as Seattle, Austin, Texas, and Troy, Michigan, and may add second or third locations in cities where it already operates. For example, it’s opening a new store in New York’s SoHo district in early 2023.