LOCAL

Another luxury watch store opens in S.F.’s Union Square: ‘The visibility is huge’

Breitling has joined Union Square’s luxury watch boom with the opening of a new boutique, the Swiss company’s first in San Francisco.

The 1,400-square-foot store at 299 Post St., by the northeast corner of Union Square, opened last month. Breitling spent upward of $1 million to build out the space, previously occupied by Johnston & Murphy, and signed a 10-year lease, said Thierry Prissert, president of Breitling USA.

“I think it’s an amazing corner,” he said. “The visibility is huge.”

The loft-inspired design has brick and metal finishes, historic photos from the 140-year-old Breitling’s past and a prominent outdoor sign that spans three stories. An indoor display shows off a motorcycle, which is part of Breitling’s collaboration with Triumph Motorcycles. The two brands created a matching set with a limited edition motorbike and watch.

It’s one of four new watch stores in the critical Union Square shopping district, which is struggling with retail vacancies but still home to numerous luxury brands. German luxury watchmaker A. Lange & Söhne opened a few months ago at 140 Geary St. Kerns Fine Jewelry is also opening a Rolex store along with a Patek Philippe store in two adjacent retail spaces on Post Street.

Luxury sales surged during the pandemic, and Prissert said Breitling benefited with watch sales more than doubling in the last three years. However, the last six months have seen a dip, which he attributed to inflation and other economic challenges. Breitling is owned by private equity firms Partners Group and CVC Capital Partners and doesn’t disclose exact earnings.

Breitling began planning the store about 14 months ago and wanted to open in December 2023. But San Francisco’s notoriously complex and lengthy permitting process resulted in the May opening. Prissert said he supports streamlining the permitting process, something that Mayor London Breed has also called for.

Prissert, a Frenchman who has lived in the U.S. for 25 years, recalls his first trip to the U.S. was a West Coast jaunt that included San Francisco. He remains bullish on the city, despite much-reported problems around office and retail vacancies, homelessness and crime.

“Some believe it’s risky. I don’t share that view,” he said. “I believe San Francisco will remain a landmark in the U.S.” and a top-five tourist destination in the country.

“We think of Breitling in the long term, not the next six to eight months,” Prissert said. He said the city’s strong demographics mean there is a desirable customer base and noted that crime is “not a Union Square issue, it’s a countrywide issue.”

The San Francisco store is the 38th Breitling store in the country, with additional ones planned in Ohio, Illinois, North Carolina, Minnesota and Florida.

The flagship Union Square store stocks Breitling’s entire watch collection, which ranges from watches costing around $3,500 to $70,000 gold timepieces.

Prissert said the company creates watches for “air, land and sea,” and the store reflects that. There are watches made of steel, titanium, diamond and gold materials.

Prissert said he wasn’t aware of Phillipe Patek and Rolex’s nearby expansion plans when signing Breitling’s lease. But he welcomes more watch stores in the area.

“I think it’s positive. It creates a destination,” he said.

Although many people now carry a digital clock in their pocket, thanks to smartphones, Prissert said there’s still interest in analog watches. He credits another of Breitling’s new Union Square neighbors, Apple, for helping sustain interest through its Apple Watch.

“The wrist is real estate” that customers are now used to looking at, Prissert said.