Swiss luxury group Richemont, controlled by South African billionaire Johann Rupert, has expanded its European footprint with the opening of Panerais first boutique in Stuttgart, Germany.
The move comes as its Specialist Watchmakers unit finds resilience in Europe, prompting greater investment in markets with prospects for steady demand.
The new store , launched in partnership with long-standing retail partner, Gerhard D. Wempe GmbH Co. KG, strengthens the presence of its Italian-born watch brand Panerai in one of Europes most important luxury hubs.