Chanel first Jewelry and Watch Store in the US 2024
The French luxury brand has been looking for a prominent location along Fifth Avenue in Manhattan for a long time. Now, Chanel, finally opened its first jewelry and watch store in the US.
Chanel Opens Its First Jewelry and Watch Store in the United States
The famed Fifth Avenue in Manhattan has long been the target of the french luxury brand Chanel, which has been looking for a prime location. Frédéric Grangié, who serves as Chanel’s global president for watches & fine jewellery, said:
“We knew we had to be in the epicenter, and we’d wait as long as we had to. We had no choice.”
Chanel rushed at the chance to take over the Crown Building at 730 Fifth Avenue. Prior to the boutique’s opening on Thursday, February 8, Grangié states in an interview with Bloomberg that “the competition was extraordinary.” The brand’s first US store specializing in fine jewelry and watches is located at 57th Street. Its flagship location at 15 West 57th Street is still close by.
Even in the face of declining global sales, the long-coveted Fifth Avenue stretch directly below Central Park has recently been the epicenter of a real estate bonanza. One of the priciest hotels in the country, the Aman New York, is located above the recently opened Chanel boutique.
Gucci, the jewel in the luxury conglomerate Kering’s portfolio, is located across the street at 725 Fifth Avenue on the ground floor of Trump Tower. Louis Vuitton, located at 1 East 57th St., serves the same purpose for LVMH. Prada is located at 724 Fifth Ave. right next door. Additionally, Tiffany, which is owned by LVMH, reopened its flagship store at 727 Fifth Avenue last year following a three-year renovation.
Grangié continues:
“From a luxury retail point of view, the perimeter is quite small. It’s really 58th to 53rd — and one side [the west, where Chanel sits] is better than the other. So that leaves very few options, especially with watches and jewellery. It’s really two blocks.”
After securing the space, Coco’s brand collaborated with architect and interior designer Peter Marino for many years to create a setting that reflected the history of the house. The Paris apartments of Chanel’s founder, Gabrielle “Coco” Chanel, located at 18 Place Vendôme and 31 Rue Cambon, served as the model for Marino’s high-end jewelry business. (High jewelry is a rarefied category that is superior to fine jewelry.)
The french brand has countered the typical white, airy, and open retail space with an evocative and mysterious one. Chanel loved the idea of folding screens, which is reflected in the oversized golden shutters on the grand windows of the beaux-arts facade. Inside, everything is covered in black lacquer and gold, from the tables holding up the display cases to the patterned rugs and textured walls.
The 3,200 square foot retail area has two double-height salons on the ground floor devoted to fine jewelry, as well as an additional room for watches. A set of stairs flanked by a 24-karat gold and rock crystal balustrade leads to segregated rooms ideal for private meetings. The décor is a combination of antiques and furniture designed by Marino, with sculptures by André Dubreuil and Louise Nevelson taking center stage.
The brand’s collections and signatures, stars, lion heads (because Coco Chanel was a Leo), and camellias—the founder’s favorite flower—are on exhibit in cases. Her favorite number, five, is also prominently displayed. The youthfully oriented Coco Crush collection of exquisite jewelry includes delicate rings and bracelets ($8,250) with a quilted design; additionally, custom ring engraving—a service that is only offered in the United States—is available.
There are two types of watches on show: the J12, which is a chunkier ceramic model, and the Première Edition Originale ($5,950), which has a black dial and chain strap (think of those signature bags). Grangié removes his own watch, the Monsieur Tourbillon Meteorite, during the interview and turns it over to show the workings behind its transparent back.
“If you want to be taken seriously, you have to have the same standards as pure players,” he says, referring to the specialist watchmakers. “This is the highest standard of watchmaking.”
One of the two jaw-dropping pieces of jewelry is the 55.55, a cascading necklace that is centered around a perfect 55.55-carat diamond set among other diamonds in the shape of a Chanel No. 5 bottle. Not for sale and created in 2021 to commemorate the perfume’s 100th birthday, it will be discontinued in the US in three months.
Since 2018, the french brand founded by Coco, which is privately owned by the wealthy brothers Alain and Gerard Wertheimer, has had its headquarters located in London. It releases its annual financial performance report in late spring. In 2022, revenue increased by 17% to $17.2 billion over the prior year.
Stores such as this one are essential to a brand that rejects online shopping. “I’ve had conversations with young people I meet when I travel, and I always think they will say, ‘Why don’t you sell online?’ But they usually say, ‘That’s so cool,’” says Grangié. “I think if you stand on integrity, people will understand it. Then they will dream of coming to the store and experiencing it for themselves.”
Conclusion: Chanel opened its first store in the US dedicated to jewerly and watches.
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