Wednesday, 27 January 2010
The luxury watch industry has faced testing times in the Global Financial Crisis. But due to this hardship, Cartier has strived to be better than its competitors by creating an adjustment-free watch.
Traditionally, Swiss watches need to be regularly serviced at quite a high cost, so this new Cartier watch will be very attractive to customers. In fact, Cartier’s CEO, Bernard Fornas, sees “these innovations as the way to gain clients from rivals”, according to Bloomberg.
Cartier’s new prototype has put them in an “optimistic” mood, Fornas said, adding that the Asian market is “buoyant.” He also suggested, “Cartier could have as many as 65 shops in China within about four to five years compared with 30 now to tap demand from that country’s growing economy.”
With this new development, plus Swatch’s recent news of “a significant rebound (see January 22’s report),” we’ll be watching this industry closer for more signs of improvement.
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