The boutique-only strategy is the brand’s attempt to control its own destiny, and it is growing. Forget multi-brand retail. Luxury is a single-brand store, a curated experience, a direct relationship. It is the brand saying: we want to know you.

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Patek Philippe Aquanaut is the younger, sportier sibling, and it is just as desirable. Forget formality. Luxury is a rounded octagonal case, a tropical strap, a textured dial. It is the watch that made rubber acceptable on a luxury wrist.

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