Thankfully, it’s time for some positive news on the luxury watch industry. We heard from Bloomberg that LVMH plan to invest in Sincere Watch Ltd, a Singapore-based retailer of luxury timepieces.
LVMH plans to back Sincere when negotiating for retail space and share its database of high net-worth customers.
Tay Liam Wee from Sincere said, “We are seeing signs of improvement in luxury spending as the global economy recovers. With the backing of two of the strongest global icons, we will be able to sharpen our competitive edge and accelerate our growth plans.”