Swatch and Tourneau Form Retai Partnership

April 6, 2006

Swatch and Tourneau Form Retai Partnership

Swiss watch manufacturer Swatch Group AG has joined forces with timepiece retailer Tourneau to open to chain of watch stores in the United States.

The stores will be named Tourneau and will initially open in several "luxury outlet malls." Initlal plans inclulde targeting mall properties outside New York City, Los Angelse, Las Vegas and Orlando.

Analysts say that the joint venture is a strong move for Swatch because it positions the company well in the U.S. luxury watch market. Approximately 74% of Swatch's operating profits currently come from high-end watches, and the company is increasingly moving into higher-ticket watches, according to a report by Dow Jones.

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