The Swatch Group announces plans to transform the Grieder House into a dynamic flagship store called ‘Planet Swatch,’ enhancing retail diversity in Zurich’s Bahnhofstrasse.
The Swatch Group, a prominent Swiss watch manufacturer, has unveiled plans for the future of the Grieder House located at Paradeplatz, Zurich, signaling a significant shift in the retail landscape of one of the city’s most renowned shopping areas. CEO Nick Hayek announced the initiative during the company’s annual press conference held on Wednesday, indicating that the building will be transformed into a “Planet Swatch.”
The Grieder House has long stood as a central point on Paradeplatz, but its fate became uncertain following the departure of the long-term tenant Grieder. Previously, there were speculations that luxury brand Louis Vuitton might take over the 3,000 square meter space to establish a flagship store. However, the Swatch Group has consistently expressed its desire to utilize the space for its own purposes, a position that led to Grieder’s lease termination.
The proposed “Planet Swatch” concept aims to create a flagship store for the Swatch brand while integrating dynamic showroom and sales spaces that can be rented out to other businesses for periods ranging from six to nine months. This model emphasizes enhancing the diversity of offerings on Bahnhofstrasse, which Hayek noted is essential following the closure of Jelmoli department store, leaving Globus as the only remaining department store focused on established luxury brands. Hayek remarked, “Bahnhofstrasse needs more diversity” and expressed that the initiative would allow both young Swiss companies and international startups to showcase their “Swiss Made” products in Zurich’s upscale retail environment.
In addition to the ambitious plans for the Grieder House, Hayek made a notable gesture addressing the recent closure of Jelmoli. The former employees of the department store, which has been an iconic retail entity since its opening, will receive a commemorative Swatch watch as a farewell gift. The timepiece, originally launched in 2016 to celebrate an anniversary, holds significant sentimental value. “Suddenly, it occurred to me that we should still have some in stock,” Hayek mentioned, referencing the company’s practice of keeping a reserve of models for special occasions and future needs. The last 700 employees of Jelmoli can expect to receive vouchers in the coming weeks to collect their commemorative watches at the nearby Swatch store on Bahnhofstrasse.
Hayek’s reflections on the situation highlight a nuanced perspective on the value of businesses and their occupants within retail spaces. He stated, “A building only lives through its occupants,” indicating his belief that the vibrancy of such locations is inherently linked to the businesses operating within them. With the planned transformation of the Grieder House, the Swatch Group aims to reshape the retail experience in Zurich, offering a space that fosters innovation and creativity among emerging brands while honoring the history of the location and its former tenants.
Source: Noah Wire Services
