Concord, a leading player in the high-end luxury watch market segment, has opened its first exclusive shop-in-shop showroom in Riyadh as part of its regional expansion strategy.

Concord, part of the Movado Group, said the new shop, located on Al Malaz street Riyadh in the premises of its Saudi partner Al Ghazali, features the company's widest selection of watches with retail price ranging from SR11,000 ($2932) to 154,000 ($41,056).

“We are glad to have opened doors to the world’s biggest Concord showroom in Saudi Arabia and I want to thank Al Ghazali for their support and continued efforts to strengthening the positioning of our brand in the local market and hosting our showroom within their premises,” said Alex Grinberg, Worldwide President for Concord.

“This initiative is aimed at reaffirming our strong and long standing commitment to the Middle East market and especially to the GCC, which has been part of our success over the years.”

Grinberg said the GCC represented one of the most important markets for Concord, and added that in the future the company planned to expand presence by setting up further shop in shop initiatives in other countries across the region.

Commenting on the brand positioning for Concord, Grinberg said, 'We want to strengthen our foothold in the Middle East by aligning our regional marketing strategy to our recent global rebranding initiative.'

'We plan to do this by creating awareness among the luxury watch enthusiasts across the region about the innovative range of our C1 collection and the CLab series,” he added.

Over the past year, Concord has created a benchmark through its CLab Series Collection for the world’s finest and most technologically advanced watches, which also won prestigious accolades worldwide.

The C1 Tourbillon Gravity, launched at Baselworld in 2008, won the favorite design watch of the year by a jury of international watch specialists during the prize-giving ceremony of the well-known Grand Prix d’Horlogerie de Genève in November 2008.-TradeArabia News Service