Hublot has not had a monobrand boutique in London since Marcus Margules, the brand’s former UK partner, closed its New Bond Street store in 2017. Rising costs made it financially unviable to keep the unit open, the company said at the time.
Hublot almost immediately pledged to open a directly owned showroom 200 metres south on Old Bond Street, at the more prestigious end of London’s legendary thoroughfare for prestige branded stores.
The shop will open in August, according to Hublot CEO Ricardo Guadalupe. “We hope it will be August,” he told WatchPro at an event promoting the brand’s official timekeeper partnership with this summer’s FIFA World Cup. “The work has been taking longer than we had hoped because it is a very historic building, but we are making progress,” he added.
The move south to Old Bond Street is significant, because the Hublot store will be among the most iconic brands including Patek Philippe, Rolex, Wempe, Tiffany, Vacheron Costantin and Jaeger-LeCoultre.
Asked about the eye-watering cost of running a branded boutique on Old Bond Street, Mr Guadalupe said it is viable because Hublot can directly absorb the expense. “It is a statement by the brand, so we can attribute some of the cost to marketing Hublot in the UK,” he replied.