21-05-2025
As Rolex Shrinks Retail Near New NYC Flagship, Patek Philippe Expands
After 45 years, Rolexes will no longer be sold at Wempe, the tony watch and jewelry dealer at 700 Fifth Ave., one of retail's most prestigious addresses.
The watches aren't going far, though. Rolex SA is finishing construction on a new, 199,000-square-foot New York headquarters designed by David Chipperfield Architects two blocks away at 665 Fifth Ave. Once it's complete, which the company has said should happen by the end of 2026, the space will host a multi-floor flagship that the company hopes will become a magnet for shoppers and curious tourists. As a result, the Swiss luxury timepiece behemoth is shrinking its retail network in that part of Manhattan to just the flagship plus emporiums owned by Bucherer AG, a previously independent retailer Rolex bought in 2023.
