Jan. 19, 2004 — In a press release issued this week, the luxury retailer Jewels announced the opening of its new Patek Philippe boutique located within the A. H. Riise Mall on Main Street. The $100,000 boutique, designed by Patek Philippe, showcases the timepieces using elegant birds-eye maple furniture and state-of-the-art lighting. The new boutique is home for Jewels substantial inventory of Patek Philippe timepieces, one of the largest collections in the United States and the Caribbean. Patek Philippe is recognized as the one of the finer Swiss watch brands.
The Patek Philippe Boutique follows on the heels of a similar Chopard boutique installation in the Jewels Main Street location in the fall of 2003 and a 1,000-square-foot David Yurman Boutique opened by Jewels earlier in the year. According to Beth Downey, Jewels director of marketing, "The luxurious boutiques elevate the image of St. Thomas Main Street and contribute to St. Thomas reputation as a world class shopping destination."
In 1992, Jewels purchased the jewelry and watch division of A.H. Riise. Since that time, Jewels has experienced tremendous growth and recently expanded to St. John and other Caribbean locations.
Jewels President Hal Tayler attributes the company's success largely to acquiring exclusive retailer rights to many luxury brands and properly managing those brands. "Our branded boutiques are perfect examples of how we can take a luxury brand and give it the preferential treatment it deserves to truly flourish."
In November 2002, Jewels sister company purchased four Colombian Emeralds International stores in the U.S. Virgin Islands. Both companies operate from their St. Thomas-based corporate headquarters.
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