The South African billionaire, who founded the Swiss luxury conglomerate in 1988, has said high-end watchmakers should reduce the supply of timepieces to counter the softening market, as reported byThe Small Dress Watch Is Back
Rupert told shareholders at Richemont’s annual general meeting that the global demand for watches “has gone past the boom,” with sluggish sales in mainland China and Hong Kong contributing to aRupert went on to praise rivals for curbing output. “We have a close relationship with the private competitors and we know what they are doing and they are acting very responsibly by constraining production,” he explained.
The good news is the market for pre-owned watches is in the collector’s favor. Prices of second-hand timepieces, such asRachel Cormack is a digital editor at Robb Report. She cut her teeth writing for HuffPost, Concrete Playground, and several other online publications in Australia, before moving to New York at the…We Wore the ‘Star Trek’-Themed Urwerk UR-120 Watch for a Week. Here’s What It Was Like.Meet the Wine Club That Thinks Differently.