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☆ The 177-year history behind Cartier, the iconic jewelry brand that's a favorite of the royals and worth $12 billion
▼ + stars: | 2024-03-22 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +1 min

A Cartier watch can cost up to $300,000. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSince Cartier was founded in Paris in 1847, it has become one of the best-known and well-regarded jewelry and watch brands in the world. According to Forbes, the brand was valued at $12.2 billion in 2020, up from $7.8 billion in 2017, under the stewardship of CEO Cyrille Vigneron. This story is available exclusively to Business Insider subscribers.

Persons: Cartier, —, Cyrille Vigneron Organizations: Service, Forbes, Business Locations: France, Paris

☆ Meet Cyrille Vigneron, the CEO of luxury jeweler Cartier who personally approves all of its designs
▼ + stars: | 2024-02-20 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

As president and CEO of Cartier, he helped reinvigorate the brand with new strategies. Cyrille Vigneron speaks onstage during at a press conference in Milan, Italy, in 2020. The strategic move helped bring the vintage watches back in style — Cartier sold 15,000 of them that year. A ranking of the top Swiss watch companies published in April 2023 by Morgan Stanley named Cartier the second-largest watchmaker behind Rolex, overtaking Omega for the No. With 60 new pieces released in 2023, Cartier's watch business continues to boom, occupying an estimated 7% of the retail market share, according to the Morgan Stanley report.

Persons: Cartier, Cyrille Vigneron, Vittorio Zunino Celotto, Vigneron, — Cartier, Morgan Stanley, it's Organizations: Cartier, Australian Financial, Forbes, Rolex, Omega Locations: Milan, Italy, Swiss, watchmaking

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsSHANGHAI/PARIS, Nov 17 (Reuters) - The world's biggest luxury brands seeking growth in their second-largest market China are all courting the likes of wealthy entrepreneur Diana Wang. "Luxury brands offer you this event experience, this personal experience and it makes you feel privileged," Wang told Reuters. This week, Burberry (BRBY.L) also flagged low double-digit growth due to a slowdown in luxury spending globally, and in China. FEEDING THE LUXURY HABITEven as they narrow their focus, luxury brands remain optimistic about the potential in China, which is forecast to account for almost 40% of global luxury sales by 2030, according to consultants Bain. Luxury consultant Mario Ortelli said several luxury firms are hedging their bets on China by also expanding their global footprint.

Persons: Thomas Peter, Diana Wang, Wang, Tiffany, Chopard, Jacques Roizen, Cartier, Richemont, It's, Jean, Marc Duplaix, Versace, Donatella Versace, Gucci, Chanel, Dior, Cyrille Vigneron, LVMH, Louis Vuitton, Bain, Eric du Halgouet, Birkin, Mario Ortelli, Ortelli, it's, Mimosa Spencer, Casey Hall, Miral Organizations: Tiffany, REUTERS, Rights, Reuters, Burberry, HSBC, Digital Luxury, Chanel, Shanghai, Capri Holdings, Tapestry, Bund, Thomson Locations: Beijing, China, PARIS, Shanghai, Cartier, Shenzhen, South Korea, Japan, Thailand

☆ Think A.I. is Coming for the Watch World? It’s Already There.
▼ + stars: | 2023-06-15 | by ( Victoria Gomelsky | ) www.nytimes.com time to read: +2 min

During a press roundtable event at the Cartier booth at Watches and Wonders, Cyrille Vigneron, the brand’s chief executive, said that A.I. “By having so much data coming from call centers or web inquiries or even what words customers use on comments or on their own social media, you have a lot of words,” Mr. Vigneron said. “What we’ve done for the last five years is be distinctively ourselves,” Mr. Vigneron said. “That’s collective intelligence, and not artificial.”Expansion plansBrands aren’t the only watch-world entities looking to optimize their operations with A.I. Wristcheck, a Hong Kong retailer of pre-owned watches, is planning to introduce what it calls Wristcheck Intelligence this year.

Persons: Cyrille Vigneron, Cartier, Mr, Vigneron, “, ”, “ We’re, ” Mr, ” Austen Chu Organizations: Cartier, Normale, A.I Locations: Hong Kong

The maker of IWC and Piaget watches surprised to the upside by reporting sales and operating profit from continuing operations rising by a quarter during the six months to the end of September. Jewellery sales rose by 24% in the period, with customers snapping up collections such as Cartier's Clash and Trinity rings and necklaces. The figures also showed the quality of the group's brands, "particularly its best in class jewellery business", Cox added. But from continuing operations, which removed the impact of the write-down and YNAP's losses, Richemont's profit increased by 40% to 2.1 billion euros. The latest results showed "excellent sales growth, profit and cash flow results", he added.

☆ Energy crisis dims festive sparkle in Europe's shops
▼ + stars: | 2022-11-11 | by ( Mimosa Spencer | ) www.reuters.com time to read: +4 min

PARIS, Nov 11 (Reuters) - Retailers in Europe are having to strike a delicate balancing act with this year's Christmas displays: how to create enough festive sparkle to loosen cash-strapped customers' purse-strings, while acknowledging the impact of the energy crisis. However, the energy crisis has accelerated plans to "reduce consumption to be a good citizen both socially and environmentally", he added. He said the store was moving faster to reach its goal of shifting entirely to LED lighting and began turning lights off at night in September. "It makes a big difference," said Eleanore de Boysson, region president of Europe and the Middle East for LVMH's travel retail division DFS. Other "small" gestures include only partially lighting the store and its offices during early morning cleaning hours, she added.

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