Patek Philippe is extending its flagship salon on London’s Bond Street, the company has confirmed to WatchPro.
No further details have been shared about the timing or scope of the project, but it is expected that a neighboring unit will become part of the showroom.
Patek Philippe’s London salon is the only point of sale directly run by the brand in the UK.
The company currently operates entirely through authorized dealers in the United States, but the commercial success of the London salon, coupled with Patek Philippe shrinking its worldwide network of doors by 30%, will be noteworthy for US retail partners.
The two-floor store in the heart of London’s Mayfair, is already the highest grossing point of sale in the UK.
In the financial year ending January 31, 2022, the most recent accounts filed with Companies House, the wholesale operation of Patek Philippe reported sales of £187 million to around 40 retail partners.
The directly-operated Bond Street salon notched direct to consumer sales of £69 million.
While Patek Philippe has confirmed the expansion of its salon, it has not provided any details at this stage, but it is likely the entire showroom will be refurbished to a fresh retail concept.
Pragnell, a highly respected British jeweler, which represents Patek Philippe at its own Mayfair boutique, recently updated its shop-in-shop for the brand with a subtly modernized new look that brings in natural tones like purple and softer furnishings.