Designer Watches

The Chinese love all things Cartier. The French jewelry and watch maker is making predictions that China will be Cartier’s largest market in the next 3- 4 years. Going on this prediction, Cartier is planning to double the number of boutiques it has in what is one of world’s largest countries with a population that still has the power to spend. Currently there are 32 boutiques in 18 Chinese cities; soon there will be 55 – 60 stores.

Right now, the first largest market for Cartier luxury goods is Japan, another country that although tiny in size, possesses a lot of purchasing power.

Although things are all good with Cartier in Asia, it’s not so in the U.S.

Another change happening within the House of Cartier is that the French playboy responsible for running the North American business may soon be on his way out. Cartier is part of the Richemont Group and the chairman of this group is not happy with how 39 year old Frederic de Narp conducts himself. Although brilliant at what he does, de Narp is known for being a party-goer and always getting a of personal attention, whether its photo ops with stars like Eva Mendes and Rihanna, or red-carpet openings in Hollywood.

Johann Rupert, the chairman of Richemont Group, thinks that de Narp is being too loose with Cartier’s reputation as an exclusive luxury goods company. For example, de Narp launched a massive marketing campaign which re-introduced the classic “Love” bracelet made by Cartier and an entire line of jewelry around this one piece, some of which sold for less than $1,000. This is great for those who couldn’t afford Cartier’s normally super high prices, but some see it as cheapening the company’s image.

Cartier watches and jewelry are high end pieces that do not sell for mid level prices. Known for adorning royalty and celebrities, Cartier has established itself as one of the best known names in the luxury watch and jewelry business and although demand and ability to purchase such items has fallen – it’s being said that more than 35 U.S. based Cartier boutiques will be closing – it seems that protecting this image is more important than making sales of $1,000 and under.

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