Cartier Opens Hong Kong Flagship as Fine Jewellery Looks to Asia... 29/11/10

Cartier plans to double the number of its boutiques in the next two to three years, particularly in China, where the luxury industry is experiencing enormous growth at the moment. The MO Down reported last week that Tiffany & Co. is opening stores faster than ever, and it seems that Cartier is following suit. The opening of its Hong Kong flagship last week demonstrates the brand’s strategic response to the expected growth of the watch and fine jewellery industry in Asia over the next five years. China’s increased appetite for jewels and luxury goods presents an exciting and unrivalled opportunity to capitalise on continuing rapid economic growth and bringing brands to a newly affluent urban population. Making up 31 per cent of the global market, we are fascinated by the different strategies brands are employing to make themselves known in this new market. Many luxury brands are new to Chinese consumers, and brand loyalty is basically non-existent. We predict some elaborate efforts to win hearts and minds, and can’t wait to sit back and watch the show.

Image credit: asiatatler.com

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