As part of its continued development of the North American market and in line with its Long Range Plan released in July 2021, The Watches of Switzerland Group announced its largest expansion plan since its entry into the US in 2017. Focused around building its presence in key markets and becoming the clear leader in the US market.
After nearly 125 years in the watch and jewelry business, Betteridge is returning to its English roots with the sale of the Greenwich, Vail and Aspen stores to the Watches of Switzerland Group.
Betteridge locations in Greenwich, Vail and Aspen will continue to operate under the current name. (Note: the Palm Beach Betteridge boutique remains under the family’s control). The Betteridge, Greenwich, Connecticut location will become the largest physical boutique in the Group’s North American portfolio.
Each of the three locations offer exceptional opportunities for expanded growth with Rolex, Patek Philippe and other global luxury watch brands as well as leading jewelry brands including Chanel, Buccellati, Verdura, and Marco Bicego. In addition, there will be a valuable influx of existing watch and jewelry clientele.
The Betteridge business will in turn benefit from the Watches of Switzerland Group’s unique and specialized approach to sales and customer service that includes creating immersive retail environments, supported with dynamic marketing, experiential activations and social engagement, along with its significant network of global resources that includes Watches of Switzerland, Analog Shift, Mayors, Mappin & Webb and Goldsmiths.
As the Watches of Switzerland Group looks to become stewards of the multi-generational Betteridge family business, Terry Betteridge will take on an advisory role in conjunction with the three acquired locations. Watches of Switzerland is a perfect union with Betteridge, combining a world-leading command of the watch industry with the Betteridge expertise in fine jewelry. As industry leaders, both Watches of Switzerland and Betteridge are committed to continuing to operate with the same level of integrity and obsessive attention to quality you’ve known from Betteridge for generations.
"Since the acquisition of Mayors in 2017, followed quickly by the opening of Watches of Switzerland SoHo, The Group has shown its acute command of the US market and deep understanding of its discerning and diverse consumers. As leaders in the industry, we understand the responsibility that comes with that role and look forward to expanding our team in North America while investing in the growth of each of these new markets and communities."
"In many ways this seems like a return to our roots for Betteridge, with my family coming to the US from England in 1892, bringing with them generations worth of metal working skills. I’m honored to be able to bring the experts of my house, the craftsmen and generational tradition of excellence, to join Watches of Switzerland. Being a valued part of their global network will allow for the greater world to experience what makes Betteridge so special."
The Betteridge acquisition, combined with existing Watches of Switzerland and Mayors boutiques, gives The Watches of Switzerland Group a market-leading position in the US, with a strategic retail foothold in the Northeast and Mountain regions and operations in two new states.
"After three years of strong foundational growth in the US market, the acquisition of Betteridge Boutiques in Greenwich, Vail and Aspen is consistent with our objectives laid out in our long range plan. Through focused investment on new projects and acquisitions, we continue our geographical diversification in order to solidify our position as the preeminent leader in the US market."