Hermes International SCA, the French maker of Kelly handbags, reported the slowest revenue growth in more than three years because of diminishing gains in the leather-goods unit and a drop in watch sales.
Vacheron Constantin, the oldest Swiss watchmaker in continuous operation, plans to expand its sales network in China this year even as demand in the Asia Pacific region industrywide shows signs of easing.
Vacheron Constantin, a watchmaking unit of Cie. Financiere Richemont SA, plans to double its workforce to 1,300 by 2020 as it spends 100 million Swiss francs ($109 million) on buildings and production, Le Temps reported, citing Juan-Carlos Torres, head of the brand.
Twenty-five years ago, when Zong Qinghou was 42, he made his living selling soft drinks and popsicles to schoolchildren. He says he earned about $8 a month -- less than a third of China’s average wage at the time -- and was so broke that he once slept in a tunnel under the streets of Beijing rather than spend on a hotel.
A 20-karat-gold Vacheron Constantin from the collection of U.S. car manufacturer James Ward Packard (1863-1928) sold for almost $1.8 million at Christie’s International in New York today, more than triple the presale high estimate.
Cie. Financiere Richemont SA, the world’s second-largest luxury-goods maker, reported 24 percent growth in third-quarter revenue, boosted by sales of Vacheron Constantin timepieces and Cartier jewelry in Asia.