February 29, 2012

The Chinese crave Cartier and Vacheron Constantin

 

Cie. Financiere Richemont, the world’s second luxury goods group, continues its relentless charm offensive on the Asian market. And it seems to be paying it with growing prestige, profit and market share, all the while reinforcing its global standing.

 

Montblanc or Van Cleef & Arpels are only a few of the Richemont empire’s gems, but the true indulgences of the high class refinement lovers in China are the Vacheron Constantin watches matched with Cartier jewellery. Grace to this, according to the latest data released by the Swiss group, the maturing financial means and increasingly cultivated tastes of Asian buyers have brought it a 24% – over EUR 2.5 billion – surge in the last quarter of 2011.

 

Richemont’s firm footing on Asia’s emerging markets may have been a bold move, but, nonetheless, perfectly sensibly put into practice. Not less of 40% of its revenues are being made here and, while the region boasts tremendous growth potential, the Swiss can only pose an even greater challenge to rivals Tiffany & Co.

 

Cartier is the second best loved brand by the Chinese when it comes to gift-making, and it becomes increasingly apparent that Audrey Hepburn doesn’t have any say on the matter.

Photo credit: daily-bourse.fr