Swatch Group to Open 15 Stores in Hong Kong and Macau
The Wall Street Journalreports that Watchmaker Swatch Group AG is opening 15 retail stores in China including five stores for the company's Omega luxury watch brand and a flagship store in Shanghai.
"Our belief in the future of this market is quite strong, and there's no hesitation to continue to invest," said Kevin Rollenhagen, greater China president of Swatch's Omega brand, and the managing director for Swatch in Hong Kong. "The consumer mood has shifted. It's no longer as excessive as it was last year, but people in China still have money."
The new Hong Kong and Macau stores may include as many as five Omega shops, but are also expected to focus on other brands from Swatch's portfolio such as Longines, Rado, Blancpain and Breguet, as well as the mass-produced, lower-end Swatch brand. All the stores, which Mr. Rollenhagen said were planned after the global economic weakness became evident, will operate under Swatch's direct management.
Swatch's Omega brand recently signed on Chinese film star Zhang Ziyi as brand ambassador. An Omega statement says Forbes calls Zhang the "woman with the greatest amount of social influence in China." It sounds like Omega is counting on Zhang to help them reach Chinese consumers.
The Wall Street Journal 
