A recent advert from luxury watchmaker Omega shows a large, technologically-advanced timepiece. So far, so typical. But this one is studded with diamonds and worn by actress Nicole Kidman. Called the Ladymatic, it's the future of the industry.
"Women are the future of watches," says Jean-Claude Biver, head of LVMH's watch unit. "There's huge potential in women's watches that is only half exploited today."
World’s largest luxury group LVMH has partnered with Japanese Group Mori to invest over EUR600 million (USD822.1 million) in a major real estate project in Tokyo’s Ginza district. The project expands over 147,600 sqm and will be structured on 13 floors.
Chengdu, a city of 14 million and the capital of Sichuan Province, has been on retailers’ radar. “We don’t consider Chengdu a second-tier city anymore. It is a first-tier city,” said Andrew Keith, the president of Hong Kong-based Lane Crawford and Joyce boutique, which has opened an 82,000-square-foot store in the city. The brand is one of many that are currently taking advantage of the city’s ripe retail market.
French luxury maison Carven which registered an exceptional 30 percent turnover growth in 2013 compared to 2012, has announced plans to double its number of mono-brand stores in China (through a partnership with local Chinese retailer BlueBell), operating already two mono-brand stores in Shanghai, a third one being expected to open in July.
Thanks to fall in bullion prices, jewellery sales have increased at least 20-25 percent during the last one week, as buyers see limited potential for further fall from the current level.
A crackdown on gift giving in China has threatened to hurt demand for luxury products, but interest in high-end watches appears to be still thriving, a new report showed.
"The Chinese luxury market is not dead: interest in all luxury watch categories continues to escalate, led by Omega, Cartier and Rolex," according to the latest World Watch Report, which is compiled by market intelligence firm Digital Luxury Group in conjunction with popular search engines like Google and Baidu.
French luxury maison Hermès has further improved its performance in 2013, registering record sales, profits and margins, results that confirm the exceptional health of the company. In a context that has “not been easy”, Hermes reached “a historic achievement”, welcomed President Axel Dumas, only to take reigns from the retirement of Patrick Thomas late January.
British luxury jeweller Boodles is getting a boost in sales from Chinese customers who are wowed by its exquisite pieces and are buying top end pieces. Despite not having stores abroad, the jeweler has been able to successfully attract China’s elite to its London shops, mainly through advertising in Chinese fashion magazines.
According to local media and reports by WWD, Bangkok’s prime luxury retail destinations Isetan, Central World and Siam Paragon have been reporting dramatic drops in footfall, with grounded sales across all luxury categories.
Hermes’ Japanese-inspired Arceau Temari new timepiece combines the skills of snow setting and hard stone marquetry in an exceptional collection of jewellery watches. The story of Temari, an art meaning “hand ball” in Japanese, is bound up with that of kimonos, since the making of these silken garments provided enough scraps of fabric to make these entertaining objects that were greatly appreciated at the Imperial court.