STREET OF DREAMS: It looks like Swatch Group has scored a prime location on Milan’s Via Montenapoleone that has housed the Lorenzi knife and gift boutique since 1929. A spokeswoman for the Swiss firm confirmed it is the new owner.
The development follows a transaction earlier this year that saw LVMH Moët Hennessy Louis Vuitton acquire the historical café Cova on the opposite side of the street.
Aldo Lorenzi, who with his brother Franco owns Lorenzi, told WWD that a decision about the future of the venue would be made in January and that a contract has yet to be signed.
The world’s largest watchmaker already counts Milan boutiques for its Breguet and Omega brands.