Luxury watch retailer Vacheron Constantin will open a new store in Los Angeles on one of the most prestigious shopping streets in the world, Rodeo Drive, in 2013.
The new store opened at 365 N. Rodeo Drive this year, joining the ranks of some of the world’s most exclusive retailers.
Vacheron Constantin is a 255-year-old Swiss watch manufacturer. It is a brand of the Richemont group, which has signed a 10-year lease for the 1,500-square-foot city-owned space, which was formally occupied by Geary’s Rodeo Drive. On July 15, Geary’s will turn over the space to Vacheron, who will be paying a higher rent.
Employing approximately 400 people worldwide, many of whom are based in the manufacturing plans in Geneva and Vallee de Joux, Vacheron Constantin was founded in 1755 by Jean-Marc Vacheron, an independent watchmaker in Geneva, Switzerland. The company is one of the oldest watchmakers in the world and in 1770 the company created the first complication. In 1979, Vacheron Constantin made Kallista, one of the most expensive wristwatches. Initially priced at $5 million, the watch is valued at around $11 million today and features 118 emerald-cut diamonds.
Previous Vacheron Constantin owners include Napoleon Bonaparte, Pope Pius X1, the Duke of Windsor and Harry Truman.