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As Vigneron said in an interview with the Neue Zürcher Zeitung on Saturday, Shanghai and other Chinese cities have become more influential over the past decade. Previously, Hong Kong and Japan’s capital Tokyo were the main export centres.
Seoul, the capital of South Korea, has also become more important. According to Vigneron’s assessment, there will be more centers in the future. There is a lot of action in Singapore, Thailand and Malaysia.
Cartier’s boss said Chinese customers’ demand for luxury goods was growing, especially outside the mainland. One reason for this is taxes. But the atmosphere of a city is also important. He speaks for Hong Kong. Cities near Hong Kong, such as Shenzhen and Guangzhou, also focus less on shopping.
Vigneron expects the Hong Kong export market to return to pre-Corona levels this year. This was despite the fact that enthusiasm after the end of Corona restrictions was lower than expected. “People have money, but they’re thinking about how to spend it wisely,” Vigneron said.
Like luxury watchmakers Piaget, IWC and Van Cleef & Arples, Cartier is owned by Geneva-based jewelery and watch group Richemont. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
