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Jun
2015

Watches & Jewellery September 2013

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Although the performance of the luxury market in China is better than the media might be reporting, the new government regulations have definitely had a significant effect on the luxury watch market, and some impact on the luxury jewellery market. Based on our monitoring of the situation, very few brands opened stores over the last two months; the majority are taking a cautious approach and are focusing on the management of existing stores and strategic upgrades. Some, are clearly being creative in the way they reach out to potential customers.

In November this year, the Huanglong Boutique Watch House that belongs to the Hangzhou Tower mall in Hangzhou, is partnering with a travel agency and providing an 11-day special trip to Switzerland and France. While in Switzerland, travellers can tour the Zenith factory that has never opened to the public before. Those on the tour can purchase watches directly from the factory and have their name or other inscription engraved on the watch at that time. The consumers will also be offered a domestic discount price for Switzerland. The custom-made watch will have special customs clearance and the watch purchase location will be specified as the Huanglong Boutique Watch House. According to the retailer “there are nothing for consumers to worry about, we will provide a fapiao (Invoice) and after sale service”.

While some brands bring consumers out of China, some brands have been bringing experts in.

Jaeger-LeCoultre brought four experienced watch experts into China and opened its watch making academy on 23th September. The four experts specialise in parts, grinding, assembly and quality inspection.

Store opening and activities

iamp mall

Officially opened in August, the iamp Mall is a new high-end shopping location in Shanghai covering all luxury categories. Eight luxury watch or jewellery brands have opened their stores there since that time, including Bvlgari, Boucheron, Chopard, De beers, Jaeger-LeCoultre, Montblanc, Qeelin and Hermes watch. Others are due to follow.

Jaeger-LeCoultre

On 30th August, the eighth Jaeger-LeCoultre store of Beijing opened in the China World Mall.
The Jaeger-LeCoultre academy also opened on 23th September.

Omega

A new Omega store opened in Taizhou, Jiangsu in September.

Glashütte Original

Starting from September 2nd, the Glashütte Original exhibition tour, called ‘the art of German watchmaking since 1845’, started a four month journey around China.

Mikimoto enhance their status

To enhance its luxury status, Mikimoto displayed its ‘Rose Garden’ jewellery piece in Plaza 66 in Shanghai that was originally created for the 2010 High Jewellery Show in Basel. It is said to be worth tens of millions of RMB and could be seen from 30th August to 8th September.

Cartier links East and West

Sponsored by Liaoning Provincial Museum, the ‘China and Western treasures exhibition’ opened on 13th September and will be on display until 27th October. In response to an invitation from the museum, Cartier brought 300 antique pieces to be displayed together with 100 antique pieces from the museum.

Tiffany ride ‘The Great Gatsby’

The movie ‘The Great Gatsby’ attracted tremendous attention in China, and as the designer and producer of all the fancy jewellery and other accessories of the film, Tiffany held a ‘Gatsby jewellery exhibition’ in Beijing in early September.

Chopard & Bvlgari reach out to consumers through film sponsorship

Released on 9th August, the film ‘One Night Surprise’ was sponsored by Chopard. One of the most famous Chinese female movie stars, Fan Bingbing took the leading role in the film. Bvlgari also sponsored the film ‘My Lucky Star’ staring Chinese actors Leehom Wang and Zhang Ziyi.


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