Jaquet Droz, the 287-year-old Swiss luxury watchmaker owned by Swatch Group, closed its sole Japan boutique at Ginza on March 16, 2025, effectively ending the brand's presence in one of the world's largest luxury watch markets. The boutique had operated since 2007. Swatch Group Japan posted the closure notice on its website on March 10, stating after-sales service would continue by phone and email.
The closure was notable because high-end watch demand in Japan remained strong through 2024 and early 2025, driven by a weak yen that attracted tourists and boosted domestic luxury spending. The WWD Japan article covering the exit reported the decision as unexpected amid sustained watch enthusiasm.
Jaquet Droz had maintained only the single Ginza boutique in Japan, a minimal footprint for a brand in Swatch Group's high-end portfolio alongside Blancpain, Breguet, and Omega. The single-store strategy meant the Japan business had high fixed costs relative to revenue, and the brand lacked the scale to absorb rising Ginza rents and operational costs.
The exit reflected Swatch Group's broader strategy of consolidating its niche luxury brands into fewer, more profitable retail points globally, prioritising markets where each brand could sustain multiple stores and dedicated marketing investment.
Closed the sole boutique, ending 18 years in Japan, because one store in the world's priciest retail market could not cover rent with limited sales.
Operating a single boutique in Ginza — one of the world's most expensive retail locations — created a cost structure that a niche watch brand with limited brand awareness in Japan could not sustain.
Swatch Group Japan judged that Jaquet Droz's ultra-niche positioning meant limited addressable demand even in the luxury watch market.
The group's strategy shifted toward concentrating heritage brands in flagship markets (Switzerland, US, China, Middle East) rather than maintaining a token presence in every major market.
A single-store presence in the priciest retail market rarely works for a niche brand — the rent consumes the margin from the handful of sales a specialist watchmaker can generate in one location.
Jaquet Droz's only Japan boutique at Ginza closed on March 16, 2025. After-sales service continued via email and phone through the brand's Japan care team. The brand remained available in other markets globally including Switzerland, the US, and Asia-Pacific via multi-brand retailers. The exit did not affect other Swatch Group brands operating in Japan — Omega, Blancpain, Breguet, and Swatch continued their Japan businesses unchanged.
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