SEOUL, May 18 (Yonhap) - South Korea is turning into another proving ground of Asia for extravagance watches, industry authorities said Wednesday, mostly from the anticorruption activity in China that has pleated deals in one of the world's biggest markets.
Roger Dubuis picked South Korea as the main Asian nation to showcase its Black Velvet. Evaluated at 57 million won (US$48,370), the timepiece is decorated with white Paraiba tourmalines and dark spinels, giving it irregularity and a stylish quality, the Swiss organization said at the showcase in Seoul on Tuesday.
The Asia debut through Seoul is a change from the organization's typical advancement cycle, as indicated by industry authorities. After first visiting Europe and the United States, the organization typically heads to Asia in the request of China, Japan and South Korea.
In March, another Swiss name, Panerai, opened its first store in South Korea. Organization CEO Angelo Bonati came in individual for the opening, mirroring his enthusiasm for the South Korean business sector.
South Korea turned into the main Asian host other than Hong Kong of the Grand Prix d'Horlogerie de Geneve (GPHG), celebrity central for watches, in October a year ago.
The move in the direction of Seoul clearly needs to do with the business pattern. Records from the Federation of the Swiss Watch Industry indicated fares of watches dropped 3.3 percent a year ago from the earlier year, the main fall subsequent to 2009, when the global group was reeling from a money related emergency. Deals in China lost 5 percent, and Hong Kong 22.9 percent.Although not an industrywide count, records from Lotte Department Store demonstrate proceeded with deals development in South Korea, from 19.2 percent in 2012 to 22.9 percent in 2013, 12.1 percent in 2014 and 33 percent in 2015. At Hyundai Department Store, offers of extravagance watches grew 8.3 percent in 2012, 11.3 percent in 2013, 16.3 percent in 2014 and 30.1 percent in 2015.
Industry authorities say the progressing effort against debasement in China, and in addition abating financial extension in the nation, have debilitated the interest for extravagance, driving organizations to look somewhere else.
South Korea's marriage custom, in which the lucky man gets a wristwatch as a blessing from the lady of the hour's family, additionally props up the business sector, they say.
"The K-pop blast in Asia and the Korea-particular custom of favoring costly looks for the lucky man are adding to the most recent pattern," an authority said.
Friday, May 27, 2016
Extravagance watchmakers swing to S. Korea as Asia's proving ground
SEOUL, May 18 (Yonhap) - South Korea is turning into another proving ground of Asia for extravagance watches, industry authorities said Wednesday, mostly from the anticorruption activity in China that has pleated deals in one of the world's biggest markets.
Roger Dubuis picked South Korea as the main Asian nation to showcase its Black Velvet. Evaluated at 57 million won (US$48,370), the timepiece is decorated with white Paraiba tourmalines and dark spinels, giving it irregularity and a stylish quality, the Swiss organization said at the showcase in Seoul on Tuesday.
The Asia debut through Seoul is a change from the organization's typical advancement cycle, as indicated by industry authorities. After first visiting Europe and the United States, the organization typically heads to Asia in the request of China, Japan and South Korea.
In March, another Swiss name, Panerai, opened its first store in South Korea. Organization CEO Angelo Bonati came in individual for the opening, mirroring his enthusiasm for the South Korean business sector.
South Korea turned into the main Asian host other than Hong Kong of the Grand Prix d'Horlogerie de Geneve (GPHG), celebrity central for watches, in October a year ago.
The move in the direction of Seoul clearly needs to do with the business pattern. Records from the Federation of the Swiss Watch Industry indicated fares of watches dropped 3.3 percent a year ago from the earlier year, the main fall subsequent to 2009, when the global group was reeling from a money related emergency. Deals in China lost 5 percent, and Hong Kong 22.9 percent.Although not an industrywide count, records from Lotte Department Store demonstrate proceeded with deals development in South Korea, from 19.2 percent in 2012 to 22.9 percent in 2013, 12.1 percent in 2014 and 33 percent in 2015. At Hyundai Department Store, offers of extravagance watches grew 8.3 percent in 2012, 11.3 percent in 2013, 16.3 percent in 2014 and 30.1 percent in 2015.
Industry authorities say the progressing effort against debasement in China, and in addition abating financial extension in the nation, have debilitated the interest for extravagance, driving organizations to look somewhere else.
South Korea's marriage custom, in which the lucky man gets a wristwatch as a blessing from the lady of the hour's family, additionally props up the business sector, they say.
"The K-pop blast in Asia and the Korea-particular custom of favoring costly looks for the lucky man are adding to the most recent pattern," an authority said.
0 comments:
Post a Comment