Swiss Watchmaker Sees Good Prospect for China Market

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Last updated at: (Beijing Time) Tuesday, November 26, 2002

Swiss Watchmaker Sees Good Prospect for China Market

Vacheron Constantin, one of the biggest Swiss watchmaker, Tuesday said it will keep pace with the times to expand its market share in China gradually.

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Vacheron Constantin, one of the biggest Swiss watchmaker, Tuesday said it will keep pace with the times to expand its market share in China gradually.

"Despite a rapid economic development, people's living standards in China is still not very high, and we have to be patient with the consumer market for expensive watches in the country," Jean Michel Paray, managing director for Asia Pacific of Vacheron Constantin, told Xinhua in an interview.

"However, we have seen a good business prospect in China," Paray stressed. The Swiss watch maker launched a massive four-week exhibition in six major cities in northern and northeastern China in August this year.

According to Paray, Vacheron Constantin has 19 shops in China. "It is a very small number compared with a total of nearly 600 shops around the world," Paray said. "We are closely following thechanges in China's consumer market, and will gradually expand our business there."

Vacheron Constantin embarked on a journey through its own history of over 247 years when it unveiled a unique, one-of-a-kind complication exhibition at the Garden Suite of the Peninsula Hotel in Hong Kong.

The company has come a long way and witnessed the changes in the industry, but still retains its class and elegance in the upper echelons of watchmaking. This is proven as two exciting new "complication" watches, the first ladies watch to comprise of both functions of Malte moon phase and power reserve and retrograding perpetual calendar watch, are placed amongst a stellar collection of about 30 timepieces.

Vacheron Constantin has remained at the forefront of horological expertise through its almost two and half centuries ofuninterrupted history, and recently, it published a book called "Passion des Complications" as a testament to the expertise in the art of complications.

In Hong Kong, Vacheron Constantin has staged watch shows twice a year. It has opened a total of 26 shops in Hong Kong. Paray said that the number of customers has kept rising every year, including customers coming from China's mainland.

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