Polo Ralph Lauren has recently been admitted to the Salon International de la Haute Horlogerie 2009 (SIHH), a prestigious luxury watch industry trade show as far as he has partnered with the prestigious watch making Richmont Group to produce watches with a license from popular fashion house.
Richemont is the second-largest luxury company today controlling group behind a number of high performing luxury watch brands such and IWC, Officine Panerai, and Cartier.
Ralph Lauren has unveiled its first Swiss timepiece collection in Geneva, looking for the part of a shrinking market. The new watches will be distributed through a number of retailers worldwide under the “Polo Ralph Lauren Watch and Jewelery Company” name.
The venture between New York – based Polo Ralph Lauren Co. and Switzerland’s Cie. Financiere Richemont SA is starting to sell three collections, including the Ralph Lauren Stirrup line, marketing documents released at the Geneva Watch Fair today show.
We are here to last, and we are here for the long term,” Ralph Lauren Watch Chief Executive, Guy Chatillon stated at a recent press conference.
The Swiss watch industry may be facing its biggest drop in exports since the 1970s, according to a forecast by John Guy, an analyst at MF Global Securities.
Exports may drop more than 15 per cent this year, he estimates.
The timepieces are expected to be priced between 10,000 Swiss francs ($8,800) and 30,000 francs, according to Bloomberg.
The watch market is very tough now. Let’s see if the Polo Ralph Lauren line can withstand the hard competition.
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