In January, JD.com, China’s second-largest e-commerce platform, announced a strategic investment in Xinyu Group, China’s biggest offline watch retailer. The partnership will give rise to China’s largest watch retail alliance, if not the largest in the world.
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On May 25th latest, Richemont will know if its €2.7 billion bid on Yoox Net-à-Porter, the biggest online luxury retailer, has been successful. So far, everything is going to plan, including Richemont's recent debut in the bond markets which raised €3.75 billion to finance the deal.
The latest study from Bain & Company consulting firm is decidedly optimistic. After stagnation in 2016, normality returns to the overall luxury market which grew by 5% in 2017 to reach an estimated €1.2 trillion globally.
What challenges do retailers face? The Hour Glass group in Singapore and Emirian family-owned firm Ahmed Seddiqi & Sons, both leading names, took stock of a profession in the throes of change, at Dubai Watch Week.
Christmas is a critical period for watch brands, with some making up to 40% of their annual revenues over the holiday season. This year, the majority have put together strategies aimed at boosting declining sales.