Richemont To Invest in Watch Production Site Outside of Geneva

Compagnie Financiere Richemont announced Monday that it will invest $100 million Swiss Francs on a production site which will include watch making shops, training centers and research centers on watch technology.

The site is in the town of Meyrin outside of Geneva, home to famed watch houses such as Maison Roger Dubuis, Maison Van Cleef & Arpels, Vacheron Constantin and Manufacture Stern, Genève 1898, all of which will have a division in the new site.

The investment by Richemont-which owns luxury companies such as Cartier and Vacheron Constantin-shows promise for the economy as well, the site is expected to have a total workforce of 900 by 2020 and staff hiring is already underway.

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via: 4-Traders

Seth Semilof

Haute Time

Seth Semilof co-founded Haute Living and, with business partner Kamal Hotchandani, launched Haute Time, the brands' luxury timepiece site. His love of watches began with the TAG Heuer he received for his Bar Mitzvah and has never let up. Through Haute Time he has been honored to visit the greatest watch manufactures in the world and meet the master watchmakers behind them. He and Hotchandani curate the site personally, hand-selecting every story that goes live, and Semilof spotlights the most sought-after brands through his interviews with their CEOs and presidents.