Why Richemont’s Chairman Believes Luxury Watchmakers Need to Cut Production

[Paul C]

Reducing the supply of timepieces is a surefire way to drive up demand.
https://robbreport.com/style/watch-c...on-1235858717/

[77T]

Well, they need to cut because the market is beginning to cool off.


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[enjoythemusic]

Agreed, Richemont's products are probably very much cooling off other than the few they can still hype. Have little doubt they may need to reduce production asap. We don't need to hear about millions of goods being crushed, as has happened in the past.

Maybe the word is getting around about Richemont's quality.... plus their competition from Swatch, LVMH, etc surely enjoys their fair share.

Wish Richemont talked about increasing product quality. i did a word search for quality and handcraft (which would also cover handcraftmenship) and it was never mentioned as best I can tell. Did you see any mention of quality? And just because something is 'Limited Production' does not make it desirable. Hopefully, wise consumers have smartly moved on from the Hype Days, though I could be wrong.

[Batmannr1]

Did not read that one before. State aid in the form of wage cost subsidy for watch manufacturers like Girard-Perregaux and Ulysse Nardin, who are ramping down production.

[tigerpac]

Robb report's watch reporting is some of the worst, least objective there is. Though that makes sense that Richemont wants to cut supply. Nevertheless, that top down management style when things get hard is a good reason why it's hard to get behind any of the Richemont brands.