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Swatch celebrates groundbreaking of 'Peace Hotel'

December 11, 2008

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Biel Bienne, Switzerland--Watch producer Swatch Group Ltd. will open to the public one of the most legendary buildings in Shanghai and in China, the Peace Hotel South Building.

A joint-venture acquisition with the leading Chinese hotel and tour operator Jin Jiang Group, which holds a 10 percent share in the venture, Shanghai's most famous symbol is located in the historic former financial district, at the intersection of Nanjing Road and the Bund.

Under the leadership of the Swatch Group, the Swatch Art Peace Hotel project introduces a unique concept combining a retail environment with a hotel exclusively intended for artists who will live, work and exhibit their creations there.

According to Swatch Group Ltd. Chief Executive Officer Nick Hayek, the Swatch Art Peace Hotel is a symbol for the continuous development of the Swatch Group brands not only in China, but in the whole world.

"We continue investing heavily not only in our production facilities or our distribution network, but also into new innovative projects such as this one," Hayek said in a media release.

In addition to a Swatch Art Boutique, boutiques for the Swatch Group's more prestigious brands, such as Blancpain, Breguet and Omega, will occupy the ground floor. Each will be designed to respect the Peace Hotel's cultural heritage and reflect its period decor and cultural atmosphere.
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