Bloomberg News

Richemont Says Chinese Buy More Watches Overseas, FuW Reports

May 19, 2012

Cie Financiere Richemont SA (CFR) Chairman and Chief Executive Officer Johann Rupert said more Chinese customers are buying watches in Hong Kong, Macau and Europe, Finanz und Wirtschaft reported.

The buying outside mainland China is being spurred by lower prices and tax incentives, the Swiss newspaper cited Rupert as saying in an interview. As much as half the watch sales in Europe are to tourists, mostly from China, Rupert said.

To contact the reporter on this story: Simeon Bennett in Geneva at sbennett9@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net


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