Vacheron Constantin, the luxe watchmaker that forms an integral part of the Richemont luxury goods company, will continue to open new shops in China in both first and second-tier cities in a move to keep up with rising demand in the region.
Manufacturing at the plant in Gerteva will be expanded to meet the demand in Mainland China for Vacheron Constantin timepieces. Juan Carlos Torres, chief executive, stated to the South China Morning Post that since the successful launch of the brand’s Shanghai showroom in 2008, Vacheron Constantin wants to expand.
“We are going to double our workforce and increase production capacity at home [Geneva] from 20,000 [timepieces] a year to 30,000 by 2015,” Torres said.
The chief executive also emphasized that in order to uphold the high quality of their watches, the company will need to make improvements in technology and distribution to go hand-in-hand with the brand’s expansion. For this reason, Vacheron Constantin, the oldest brand at Richemont with over 250 years experience in the watchmaking business, is planning on spending $100 million to maintain quality along with tradition.
Torres further said to the daily newspaper: “After conveying the core message to the Chinese customers, they become more educated and begin to value watchmaking in terms of art, craftsmanship and design. The appeal to Chinese customers comes from our heritage and classic image. Customers prefer a pragmatic style over a showy brand.”
While Torres didn’t comment on the number of shops the brand will open in China, he did state that mainland revenue-per-store was indeed higher than revenue-per-store in both Hong Kong and Macau.
Story and photo source: South China Morning Post