Wednesday, September 14, 2011

Girard-Perregaux seeks to reduce dependence on Chinese market



Unlike what seems like an increasing number of brands unabashedly wooing the financially important mainland Chinese market with varying degrees of directness, Girard-Perregaux has decided that it wants to expand in the U.S. and South America, and to reduce its reliance on China.

Despite it accounting for approximately 40 per cent of Girard-Perregaux’s sales, managing director Stefano Macaluso has announced that the company intends to broaden its customer/ business base by refocusing on an improving U.S. market, and engaging with South American buyers who are choosing to buy abroad rather than at home.

Even though Girard-Perregaux is changing their international focus, they still aim to maintain the existing percentage of sales the brand gets from China over the next few years.

Girard-Perregaux produces around 12,000 timepieces a year.


[AP]

2 comments:

Anonymous said...

"Girard-Perregaux ..... still aim to maintain the existing percentage of sales the brand gets from China over the next few years while changing their international focus"!
Is this not a case of having their cake and eating it also?
Given the state of the US economy, the market there is unlikely to rebound any time soon, and South America...?
They would be crazy to ignore or neglect the Chinese market.
Like bank robbers who rob banks because ".. that's where the money is.." GP should continue selling hard to the Chinese because like it or not, at the moment, that's where the money is!
Their PR sounds thrust sounds like B*S* and some kind of sop to the Americas.
Many of the Euro economies are basket cases too. They should be thankful the Chinese are such strong buyers of their products.
40% is huge and too large to be ignored or taken for granted.
They would do so at their own peril.
PT

Anonymous said...

what about the Russians, the Arabs, the Indians? You can't just focus on the "B" in BRIC!

-sk