The healthy state of the Swiss watch industry, which is expecting record sales for 2011 (up 19.2 percent for the first six months of 2011, reaching a total of 8.7 billion francs) and a good outlook for 2012, has meant that at least one major brand is planning to invest heavily on managing and meeting this growth.
With sales of 17,000 to 18,000 watches expected this year, Richemont’s Vacheron Constantin is hoping to increase this to 30,000 by 2020, and also aiming to have the Geneva Seal on all of its watches by 2016 (currently at 70 percent).
Vacheron, which currently has 700 employees, plans to almost double its workforce to 1,300 by 2020, and to spend 100 million CHF on buildings and production.
The extension of the buildings will be designed by Bernard Tschumi, who also designed their current headquarters along with the Acropolis museum in Athens, the Rouen Concert Hall and Exhibition Complex in Rouen and the Blue Residential Tower in New York. Stage one will be undertaken 2014-2015, and the second in 2020.
Otherwise known online as ‘aptronym,’ Y.Chan’s first watch was a gift from her grandmother when she was 8 – a blue dialled quartz stainless steel Citizen on a bracelet. A member of various watch fora, and an Australian Paneristi, when not writing for The Watch Lady she can be found blogging about watches and food at The Sydney Tarts.
Article written by Meehna Goldsmith