Ladies Cartier: March 2021

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Watches. Hong Kong. The two go hand in hand, a lot like me and Vacherons (vintage or modern day, I’m not fussy. When a watchnerd/ WIS visits Hong Kong, a single question appears to generally pop up - where are the pre-owned and vintage watch shops? Google searches and going through watch fora and blogs only brings up a dozen or so areas, so I thought, on my current trip there, that I’d try to compile as comprehensive a list as probable, as a resource. There are also a number of locations that I have selected not to incorporate - the organizations which are Ads for a varying number of brands, but which seemed, inevitably, to have the anomaly of a modest section of a window with Panerais and generally Rolexes as properly, but which do not appear to be Ads of either brand. The city loves its watches, irrespective of whether it is haute or hot pink. I have personally only purchased from two of these listed locations, over the years, and I will recognize them and give my personal practical experience. I walked previous, even when I created repeated attempts at random instances of the day. They did seem to exist in the sense of there getting signage, and in one case, an on line presence. For all of these dealers, the usual caveat emptor applies. You will locate particular brands dominating (Rolex, Panerai, Patek, Omega, Cartier), and the vintage/ modern quantity and proportions variable.

While demand for luxury watches - about a third of Richemont's sales - has contracted sharply in the course of the COVID-19 pandemic, jewellery, exactly where Richemont's Cartier brand is noticed as the global leader, has fared a great deal superior. Much of the world's jewellery is unbranded, giving popular labels like Cartier, and LVMH's Bulgari and lately acquired Tiffany, stellar growth prospects. Richemont's jewellery brands Cartier and Van Cleef & Arpels delivered 14% constant currency sales growth in the quarter to Dec. 31, although its watch labels saw sales fall 4%, less than feared, according to analysts. Europe declined 20%, hit by the absence of tourism and retailer closures, and the Americas stagnated. RBC analysts said the luxury jewellery category was amongst the most attractive within the sector with lengthy-term historical growth rates of 7-8%, while Citi analyst Thomas Chauvet stated Richemont had outperformed most jewellery peers in the quarter. Even although Richemont's pricey IWC and Jaeger-LeCoultre timepieces are much less vulnerable to smartwatch competitors than peer Swatch Group's they face stiffer competitors from watch category leaders Rolex, Patek Philippe and Audemars Piguet which are privately-owned. The very same is not true for watches that have also been penalised for the duration of COVID-19 lockdowns by their nonetheless high dependence on multibrand retailers and low e-commerce penetration. Shares in Richemont have been up 1.% at 84.36 Swiss francs at 0957 GMT, following hitting 87.94 francs earlier in the session, also boosting Swatch Group and LVMH.