Little Switzerland renews regional expansion

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Caribbean jeweller and duty-free operator Little Switzerland has signed a deal with Colombian Emeralds, enabling it to open a key new store in Key West, Florida and expand its Main Street operation in St Thomas, US Virgin Islands.

Under the terms of the transaction, Little Switzerland will sublet the only Colombian Emeralds location in Key West; acquire all the Key West fixtures; and take over the St Thomas lease currently operating under the name Perfect Time, which is adjacent to Little Switzerland's flagship store on Main Street.

The 3,200sq ft (297sq m) Key West store will feature some of Little Switzerland's finest timepieces in addition to jewellery from European and American designers. Plans for the 650sq ft (60sq m) St Thomas site feature an art, giftware and crystal boutique.

Little Switzerland president Robert Baumgardner commented: "This new location marks our entrance into the ever-expanding Western Caribbean: a significant move forward. The acquisition of the [St Thomas] lease enables us to complete the expansion of our flagship store."