Tags: china

Richemont Strikes Deal For Distribution of Baume & Mercier Throughout China

Richemont Strikes Deal For Distribution of Baume & Mercier Throughout China

Luxury conglomerate Richemont have reportedly reached an agreement with Chinese jewelry company Chow Tai Fook to distribute Baume & Mercier watches throughout China. China Retail News reports that Richemont, which owns haute horlogerie brands like Jaeger-LeCoultre, Cartier, Roger Dubuis, Montblanc and Vacheron Constantin, will expand their market share of luxury watch sales. China Retail News cites a Richemont insider as saying that each party will hold a 50% stake in the deal. The Hong Kong-based Chow Tai Fook Jewellery, which went public in 2011, have over 1,000 retail locations throughout mainland China. The company already works with other Richemont group companies, including Cartier, Piaget, READ MORE

TAG Heuer Looks To India As Swiss Watchmakers Cope With China Ban Fallout

TAG Heuer Looks To India As Swiss Watchmakers Cope With China Ban Fallout

In the wake of this week’s news that China is banning ads for luxury gifts, including watches, TAG Heuer are reportedly hedging their bets by looking to a different growing market: India. Jean-Christophe Babin, the president and CEO of the Swiss watchmaker, says TAG Heuer’s investment in the Indian market will help the company forestall the kind of drop in share prices currently affecting the Swatch Group and Richemont as a result of the ban. The Economic Times spoke with Babin at TAG Heuer’s office in India, where the company saw sales grow by 7.8% in 2012. “It (the ban in China) might READ MORE

Maximilian Büsser and Friends Open First Boutique in China

Maximilian Büsser and Friends Open First Boutique in China

Haute horlogerie brand Maximilian Büsser and Friends (known simply as MB&F) have opened their first boutique in China in the country’s capital city, Beijing. Luxuo have reported the company has opened the boutique in partnership with Europe Watch and Ray Union in the country’s centre of political power. The shop is located in the very heart of Beijing’s business district in the Parklife Beijing Yintai Centre, a shopping haven described as being state-of-the-art. The exclusive building also contains other shops featuring luxury goods, high-end bars and restaurants, along with a roof-top garden that has been exquisitely landscaped Early December has READ MORE

New Hermès Watch Boutique Opens in Beijing

New Hermès Watch Boutique Opens in Beijing

This year, French luxury house Hermès have opened a new boutique dedicated to haute horlogerie in China’s capital city Beijing. The exclusive timepiece shop, which opened this summer, is in the Fu Xin Meng Parkson Shopping Centre, which is located quite close to the financial heart of the city. This latest boutique, one of 17 strategically placed stores in key Asian, American and European markets, boast of 83 metres of floor space. Axel Dumas, the chief operating officer of Hermès and sixth-generation descendant of the company’s founder, spoke of the brand’s special relationship with China in an interview with China READ MORE

Richemont Shares Rise on Profit Announcement

IWC watches

Swiss luxury conglomerate Richemont exhibited strong growth in 2012, despite significant investments and the heavy tariffs imposed on its goods by Chinese regulators. As the owner of several luxury brands including Cartier, Richemont is second only to LVMH in the scale of its luxury operations. For the first half of 2012, Richemont’s profits increased between 20-40% according to the company. The Swiss stock exchange was quick to respond, sending shares of the company 5.5% higher in trading this week, ending at 59.15 Swiss francs. 2012’s promising numbers follow 2011’s healthy growth of 43 percent. Richemont expects to see continued advancement READ MORE

Hublot Fuses Macho and Metro in Shanghai

England’s Manchester United football club and luxury watchmaker Hublot teamed up in China to beat childhood hunger last night, doing what was a first for the virile world of Premier League football: strutting their stuff on the catwalk. Sir Alex Ferguson led his team team of aspiring models to Shanghai to show off a collection of Hublot watches as part of the joint charitable initiative between Hublot and Manchester United. Called “United for UNICEF”, the event saw a very special edition of Hublot’s King Power Red Devil – named after the football club’s mascot – up for auction to support READ MORE

Luxury Watch Trends 2016 - Baselworld SIHH Watch News

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