Premium Swiss Watch Maker Jaeger LeCoultre Expands Into China
China is the new ground ripe for expansion according the luxury Swiss watch maker Jaeger-LeCoultre according to reports from its Global Vice President China is expected to become the watch makers biggest potential over the next five years.
"Sales in the Chinese market have contributed a lot to our global business and we will continuously expand our outreach in China to grasp the business opportunities in the fastest-growing market in the world," said Jerome Lambert the companies global president in an interview with China Daily.
The company has recently launched a new line of watches set to start at ten thoushand Yuan (about $1,500) and work there way up to 500,000 Yuan. The new line is said to target China’s new upperclass.
"I'm confident that the Chinese market will reflect better sales in the future and we will launch some products especially designed for our Chinese clients," Lambert said.
China last year bought one fifth of the total watch production in Switzerland, and the United States has haw the biggest drop in Swiss Watch production in ten years - and higher then any other country of the world.
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