
Business News: Richemont Chairman Lauds Rival Watchmakers Reducing Production To Align With Weak Demand From China
The chairman of Cartier-owner Richemont is heaping praise on Swiss watchmakers who cut production in response to weak demand from China to avoid oversupplying the global market. Johann Rupert, who controls the Swiss-based luxury conglomerate that owns many brands including Jaeger-LeCoultre, IWC, and Panerai, says some of the biggest names in watchmaking have adjusted volumes…
Read more