September 17, 2010

Swiss Watchmaker Sees No Limit to Luxury Sales in China

Jean-Claude Biver, CEO of luxury Swiss watchmaker Hublot Geneve, says he sees "no limit" to the growth of luxury brands in China. Unlike in America and to a lesser extent Europe where the wealthy might wear "rubbish" on their wrists, Biver said in China expensive watches are sought after status symbols.

Hublot plans to open 15 new stores in Asia most of them in China where the company first opened a store in Shanghai last year. According to a report the average wealthy Chinese owns more than 4 luxury watches....

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