Friday, 4 September 2009
The iconic French fine jeweller and watch maison Cartier, part of the Swiss luxury group Richemont, is investing for significant growth in China. According to a Reuters article, Bernard Fornas, president and chief executive of Cartier, announced at the China Investment Summit last Thursday that they are going to "double the number of stores on the mainland". Currently they have 32 boutiques in 18 cities and China is second to Japan in number of stores.
Fornas also had some low-key positive comments on the economy when he said "the worst of the financial crisis was likely behind the luxury jewelry firm, as strong demand in China and the Middle East is compensating for weakness in traditional strongholds Japan and the United States."
Cartier was rated the number one luxury brand in Beijing according to the recently released Hurun Report. See The MO Down, Beijing Is Officially Billionaire Central - 26/8/09.
So the Cartier Panthere is looking squarely in the eyes of the emerging Tiger - it's big cats at play now. Cartier are pouncing on this opportunity and committing to maintaining their strong and coveted brand status on this very large and growing market.
Article by: Melinda O'Rourke
Who's behind the MO DOWN
Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au