Tuesday 24 November 2009

Alarm Bells Ring As Watchmaker Chopard Is Forced To Cut Costs – 24/11/09

Another watchmaker has hit a rough patch. Chopard, Switzerland's largest family-owned watch and jewellery company, has had to temporarily close a store in Palm Beach, Florida, and lay off workers. It is also expecting sales to fall by up to a fifth this year.

We read in the Wall Street Journal that Karl-Friedrich Scheufele, co-president of the watchmaker, says that despite these cost-cutting measures, he realises the 149-year-old company will have to invest for their long term future. In the past Chopard has sponsored some of the biggest social events of the year, including the Elton John AIDS Foundation's annual White Tie & Tiara Summer Ball.
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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