Richemont is investing CHF100 million (£67.6m) in setting up a new watch production site in Meyrin, Geneva.
The luxury goods group has dubbed the new 30,000sqm facility Campus Genevois de Haute Horlogerie.
The opening of the centre will create 400 extra jobs over the next eight years. Richemont said that when the Campus Genevois de Haute Horlogerie is complete it will house 900 staff.
The Campus Genevois de Haute Horlogerie will bring together several major high-end watchmakers in their own premises and will include the headquarters of Roger Dubuis, the watchmaking workshop of Van Cleef & Arpels, production workshops of Vacheron Constantin, the manufacture of dial maker Stern Création and the manufacture of component maker Genevoise de Haute Horlogerie.
The centre will also house an education facility set up for apprenticeships, the Learning and Apprenticeship Centre for Haute Horlogerie, which will offer 45 places. This centre is due to open in autumn this year but will be inaugurated into the Campus Genevois de Haute Horlogerie in autumn 2014.
It will also hold a Research Centre for Watchmaking, which Richemont has said will be tasked with the “mission to develop new technologies to sustain the impressive level of innovation and quality of our Maisons”.
Richemont said that it will invest CHF60 million (£40.6m) on training and research over 10 years.