Swiss watches in the Chinese market is no longer scenery

"International Herald Tribune" reported that in recent years, Swiss watch companies continue to open branches in China, and now some manufacturers found that the momentum of decline in sales of watches, inventory backlog, and even had to shop. The article said that in 2012, uk replica watches sales in China reached its peak, and now began to decline. "Our sales in the Chinese market will slow down, so every step is more cautious," said François-Henry Bennahmias, chief executive of Audemars Piguet, a Swiss watch. Audemars Piguet has opened 22 stores in China, six of which are closed. Swiss watch industry federation data show that the first quarter of this year, exports of watches in China fell 26% year on year, Fortunately, the Middle East and European markets, especially in Germany and the UK market is good, so the overall export growth of 2.3%. "People are overly optimistic about rolex replica watches China, and think it's all right to open 40 and 50 stores, but now there are a lot of backlogs in stores in China that no one can guarantee to sell," said a Los Angeles-based watch distributor. The report quoted consulting firm McKinsey Research said that more and more like to travel and wealthy Chinese people shopping overseas, Chinese luxury goods consumption is about 50% overseas. "Today, it is more meaningful to open a 50 square meter store in Paris than to open a 50 square meter store in China," said François-Henry Bennahmias, CEO of Audemars Piguet. Bain, a consulting firm, published research in December, showing that Chinese consumers spend 25% of the world's luxury goods on the world market, more than 20% of the US. However, Bain also pointed out that China's luxury goods sales last year, a slight decline. "The luxury brand stores in China need to offer consumers the same experience as shopping in France and Italy," Bain's report said, "or else Chinese consumers will choose to shop when they travel." "Some people are eager to enter the Chinese market and do not consider the need for Chinese to buy overseas," says Michel Parmigiani, founder of Swiss watch brand Parmigiani Fleurier. "Overseas shopping avoids paying expensive taxes." Chinese luxury consumption tax in 20% to 70%. Anti-corruption Another important reason is that the central government in order to combat corruption, but also to send valuables to take control measures. Kepler Capital Markets estimates that half of the watches sold in mainland China are for gifts, and that the central government's crackdown on corruption has made it hard for officials to wear a thick watch, . Nick Hayek, chief executive of replica watches uk, said the slowdown was normal as "it's not possible to sustain 30% growth every year." However, Peter Stas, head of the Frédérique Constant watch, said: "What is wrong is the gift watch, and the middle class is still buying the watch. The end of the article said that despite some twists and turns, but the world's leading luxury brand sales in China is still growing. Louis Vuitton sales rose 6% in the first quarter, although watches and jewelry fell 1% class. Many cities in China rent prices rose sharply, meaning that many shops more and more difficult to profit. On the contrary, in the European market, due to the financial crisis, some watch shops welcomed the influx of Chinese tourists.