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Cartier to open 10 new jewellery outlets by 2008
30 Jan '07
1 min read
Global jewellery giant Cartier plans to launch ten new stores in mainland China by 2008, as it is expecting heavy demand for jewellery from the rich.
According to Nigel Luk, Cartier Greater China Managing Director, company wants to raise number of jewellery boutiques in the country from 14 currently to about 24 next year.
Jewellery pieces from Cartier are sold at high rates in China. A pearl necklace recently fetched a price of CNY22 million ($2.83 million).
China is the third biggest consumer of luxury goods in the world. Luxury goods market stood at $6 billion in 2004.
Super rich people in the country, who control assets worth $138 billion, have brought about growth in company's sales. Cartier is the subsidiary of luxury goods maker Richemont, based in Switzerland.
According to Nigel Luk, Cartier Greater China Managing Director, company wants to raise number of jewellery boutiques in the country from 14 currently to about 24 next year.
Jewellery pieces from Cartier are sold at high rates in China. A pearl necklace recently fetched a price of CNY22 million ($2.83 million).
China is the third biggest consumer of luxury goods in the world. Luxury goods market stood at $6 billion in 2004.
Super rich people in the country, who control assets worth $138 billion, have brought about growth in company's sales. Cartier is the subsidiary of luxury goods maker Richemont, based in Switzerland.
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