×
588
Fashion Jobs
KARADI PATH EDUCATION COMPANY PRIVATE LIMITED
Senior Area Sales Manager - Karadi Path Education Company
Permanent · Chennai
SENSO FOODS PRIVATE LIMITED
Area Sales Manager/sr. Sales Executive For "Corporate Sales"
Permanent · Ahmedabad
ALGOR SUPPLYCHAIN SOLUTIONS PRIVATE LIMITED
Hiring For Sales Manager in Logistic co| Hyderabad | Goa
Permanent · Bengaluru
A2V INSURANCE BROKERS PRIVATE LIMITED
Area Sales Manager
Permanent · Ludhiana
VIKRAM TEA PROCESSOR PVT LTD
Area Sales Manager
Permanent · Mumbai
BHARTI AIRTEL LIMITED
Territory Manager- Dth Sales -Namakkal
Permanent · Namakkal
ARKRAY HEALTHCARE PVT. LTD
Opening For Medical Business Manager(mr)- Delhi Chennai & Bangalore
Permanent · Chennai
PUMA
Studio Operations Manager
Permanent · Bengaluru
ELICO LIMITED
Requirement For Production Manager
Permanent · Hyderabad
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - up
Permanent · Faizabad
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - up
Permanent · Mahoba
ELECTRONICA FINANCE LTD
Area Sales Manager - Machinery Loan(Delhi ,Faridabad & Ghaziabad)
Permanent · Faridabad
IOTECHWORLD AVIGATION PVT LTD
Production Manager Engineer (Design & Development)
Permanent · Gurugram
CLASSIC SEARCH PVT LTD
Manager Production
Permanent · Bengaluru
CLASSIC SEARCH PVT LTD
Manager Production
Permanent · Bengaluru
SWASTIKA INVESTMART LTD
Opening For Branch Manager/Area Sales Manager
Permanent · Raipur
PARAISO REALTY PVT LTD
Sales Manager /Associate / Senior Associate - Real Estate Sales
Permanent · Lucknow
FINO PAYMENTS BANK
Territory Sales Manager - Merchant & Distributor Onboarding - Rewari
Permanent · Rewari
EVOKE SALES CORPORATION
Area Sales Manager/ Sales Manager
Permanent · Nashik
PARAISO REALTY PVT LTD
Real Estate Manager/Asst. Sales Manager/Sales Manager/Sales Executive
Permanent · Lucknow
SARTHEE CONSULTANCY
Production Manager
Permanent · Vadodara
TALENTUM LABS
Area Sales Manager
Permanent · Bengaluru
By
Reuters
Published
Apr 11, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Swiss watchmaker Audemars Piguet makes China push, on track to hit 2018 sales target

By
Reuters
Published
Apr 11, 2018

Swiss watchmaker Audemars Piguet is on track to hit 1 billion Swiss francs ($1.04 billion) in global sales this year, the firm’s chief executive said in an interview in Beijing, amid a revival in luxury demand in China driving up watch sales.


Audemars Piguet- Facebook


The watchmaker’s CEO Francois-Henry Bennahmias told Reuters that sales rose more than 9 percent in the first quarter. Last year, sales rose 12 percent thanks to a shift towards single-brand stores and higher average retail prices.

“We are confident about being able to do a year as good as 2017,” Bennahmias said.

The watchmaker also launched its first online pop-up boutique with Chinese e-commerce platform JD.com Inc on Monday, hoping to tap into China’s burgeoning middle class who are increasingly shopping online.

Swiss watch industry exports to China rose 18.8 percent last year, according to the Federation of the Swiss Watch Industry. Growth this year so far has been even faster.

JD.com, along with rival Alibaba Group Holding Ltd, is expanding its luxury offerings. Last year, it launched luxury platform Toplife, luring big-name global brands such as Saint Laurent and Alexander McQueen.

Bennahmias said JD.com had been lobbying Swiss watchmakers to forge tie-ups with the platform, but he did not rule out the possibility of working with Alibaba, the country’s largest e-commerce firm led by entrepreneur Jack Ma.

“I am waiting for Jack Ma to give me a call,” he said.

Chinese luxury sales had stalled under a government campaign against shows of wealth among public officials, but are now gaining momentum on the back of growing purchasing power of China’s middle class - in part driven by younger shoppers and online sales.

Luxury goods sales in China hit 142 billion yuan ($22.55 billion) last year, up around 20 percent from the year before, the sharpest growth since 2011, according to consultancy Bain & Co.

Bennahmias added the firm, which produces 40,000 watches a year, could look to export the e-commerce model outside China if successful and would slowly ramp up its watch output.

“We want to remain very exclusive, and 40,000 is a good number. Maybe within the next three to four years we are going to increase to 44,000 or 45,000,” he said.

($1 = 0.9571 Swiss francs)

($1 = 6.2974 Chinese yuan renminbi)

© Thomson Reuters 2021 All rights reserved.