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Jun
2015

Watches & Jewellery August 2014

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On 25th July, Italian luxury watch manufacturer Panerai opened its 10th store in China, in the Chengdu IFC. At the new store opening, the brand introduced two special models for the city. The panda, the emblem of the city is engraved on the backs of the two models’ which are only available in Chengdu. One model limited to only 10 units is priced at 101,700 RMB and the other costing 45,900 RMB is limited to 50 units.

The marketing strategy specifies that 10 pieces can be bundled while 40 watches are to be sold individually. One set comprises of two models with matching codes. The set of watches for Chengdu sold very well. In under a month, 8 sets were sold; only two sets with the code number ‘5’ and ‘6’ are currently waiting for buyer.

On 31st July, the Panerai Nanjing store celebrated a year since opening and the brand introduced two special models for the city. The backs of the cases have an image of ‘the Sun Yat-sen Mausoleum’ engraved on them. One model called the ‘Radiomir 10 Days GMT Automatic Acciaio’ is limited to 10 units, and the other called ‘Luminor Marina Acciaio’ is in limited to 50. The same marketing strategy as used in Chengdu applies. Pre ordering began in early August in Nanjing and sales will officially run from September 5th to 7th.

Previously, Panerai had released limited edition models for Beijing, Shanghai and Tianjin each only available in that specific city. But the brand is not the first to have follow a limited edition strategy.

Models for Chinese traditional festivals

This is the most common case for special editions, for example Patek Philippe introduced a platinum model for the Spring Festival in the year of the dragon.

Models for a special activity

For example, Montblanc introduced a special model called ‘Time Walker World-Time Sinosphere Limited Edition’ for a clock salon called ‘Watches & Wonders’ in Hong Kong. The model with a golden mark of ‘China edition’ at the 7 o’clock position on the dial and was limited to 88 units.

Models for an event

Hublot exclusively introduce a classic model for the ‘Sino Swiss Economic Forum 2014’ to celebrate the formal implementation of “China-Switzerland Free Trade Agreement “.

However Panerai pioneered models for cities in China specifically for Chinese consumers. This marketing strategy effectively targets this currently depressed sector. The strategy gives consumers in or around the city a unique experience that may enhance brand awareness and consumer loyalty in the longer term. Some high-end customers who love the city or Chinese culture are likely to be enthusiastic about this type of collection. It is also likely be very proud that they are wearing a watch from a luxury brand especially made for his or her home town.

Activities

On 11th July, Coach held the ‘2014 Coach Watch Recommendation’ in the Shijiazhuang Beiguo Shopping Mall.

From 19th July to 12th October, Cartier is holding the ‘Cartier Time Art’ exhibition in the Shanghai PowerStation of Art.

From July 25th to 30th, Audemars Piguet held a grand exhibition in Nanjing Neji Plaza.


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