Watches

Rolex Trolls Omega With Deal to Buy Home of Arch-Rival's Flagship Store

Deal means Omega watch brand will pay rent to competitor Rolex
Swiss watch companies in battle for customers and real estate

The Omega store on Rue du Rhone in Geneva.
Photographer: Antoine Antoniol/Bloomberg

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By Andy Hoffman

October 30, 2023 at 11:22 AM UTC

Updated on

October 30, 2023 at 2:57 PM UTC

A Rolex SA subsidiary bought a building, which houses rival Omega’s flagship boutique, on Geneva’s priciest shopping street in the latest battle between between top Swiss watch brands for prime real estate.

Marconi Investment SA paid 120 million Swiss francs ($133 million) for the building on Rue du Rhone, according to a filing with Geneva’s land registry.