I apologize, if this is OT. I have been told that the NYC Boutique has seen a trend to increased sales to Asian and mainland Chinese buyers. Maybe this article helps explain the phenomenon. Maybe too, if this settles into a longer term trend, the available supply of limited production pieces will be more readily available elsewhere.
www.nytimes.com/2013/04/27/business/global/27iht-watch27.html?ref=raphaelminder
very interesting indeed!
Thank you Bill
Thanks Bill.
Since I often watch the Swiss news (on TV5 Monde) I saw a report about the watch industry and learned that Corum is sold for about € 70 M to a Chinese investor (Luxury Swiss watchmaker Corum sold to China Haidian
They also told that there is a famous Chinese blogger that hunts for pictures of Chinese officials wearing expensive watches and exposes them to the public. Many officials wouldn't be able to buy such expensive watches from their regular salaries. I wonder how big the impact will be, from what is in the article you mention, it's quite impressive.
Kind regards,
Clemens
The wearers are commonly called "watch uncles" here in China.
Thanks, Bill...very interesting!
Great article Bill. Thanks for the link.
Not sure... I still see them (mainland Chinese) coming to KLCC area and Pavillion to buy watches.. Usually paid in stack of cash and well once I saw this guy walked off with 6 different watch. I am actually still struggling to find the funds for my second one..
This explains the quick moving stock in both these places. There was a time when I find it hard to locate a model and if I hesitate, it would be gone. Not to mention, the AD discount was too good to ignore.