Panerai is opening its largest-ever global store in Recent York City on Friday.

The two,250-square-foot space at 711 Madison Avenue marks the debut of what the brand is looking its Casa Panerai — a flagship of greater than 2,150 square feet that showcases the watchmaker’s full offering and the breadth of its history.

In line with chief executive officer Jean-Marc Pontroue, Panerai is on something of a “retail offensive.” Within the last five years, it has opened around 100 stores worldwide.

In Recent York City, the Compagnie Financière Richemont-owned, Italian-born company had long held an area at 703 Madison Avenue, but that store — at 400 square feet — was too small for the extent of interest and foot traffic.

Panerai, in response to Pontroue, spent five years searching for an acceptable, larger space.

“We desired to get an angle [corner] on Madison that many brands want. We wanted it facing south so it’s visible on the way in which up with traffic. A variety of stores were too high or too low. Within the watch industry, Madison Avenue has the traffic of affluence and connoisseurs of high-end watches. Not only watches but in addition high fashion, so it makes it one in every of the few potential addresses for our sort of product,” he said.

The U.S. is Panerai’s biggest global market — accounting for some 20 percent of sales. Lately, it has seen strong performance — in response to Pontroue — in states including Florida, California and Texas.

But Recent York, he said, “ought to be the one driving the remaining of the business in America.” Panerai currently has some 24 freestanding boutiques within the U.S., some operated by partners.

“Our Italian origin plays well within the U.S., given the indisputable fact that we’re the one brand to have Swiss making with Italian flavor,” Pontroue said.

The brand will soon open locations in Boston, Washington, D.C., and Philadelphia.

Along with the U.S., Pontroue cited China, Japan and Italy as strong markets.

The posh industry over the previous couple of weeks has reported that rampant growth within the U.S. is starting to slow.

Pontroue said that he’s taking a look at the reports with a more macro approach. “Well, you realize you could have to see it on the long-term performance of the business. All major brands saw significant increases in America within the last five years. You can’t keep going like that for long, so now we’re on more of a plateau. I can inform you we’re still significantly higher today than we were pre-COVID[-19],” he said.

“In fact, when you could have a rustic with 20 percent of your small business, you’re looking very fastidiously, but at the identical time we’re very optimistic or we wouldn’t have invested this much in Madison,” Pontroue added.

While Panerai maintains high, heritage-type cachet, the brand’s average watch is around $10,000 — lower than other brands with an analogous positioning.

Pontroue said that price shouldn’t be the total picture of the brand’s success: “It’s all linked to the desirability of your brand. On the high end there are very successful brands and ones with lower prices are usually not at all times as successful. It’s more how much you’re desired, your product, storytelling and history.”

On that note, the brand is constant its push into experiential designs — wherein a client purchases a package from Panerai that features a trip and a watch.

One experience, which mimics a Navy Seal training facility, includes door-to-door airport transportation, flights, a three-day training experience plus the limited watch designed for the event.

“It’s a latest solution to approach watch aficionados,” Pontroue said.