Baume & Mercier Signs Joint Venture Agreement with Chow Tai Fook
Baume & Mercier Signs Joint Venture Agreement with Chow Tai Fook (Geneva, 18 January 2013) Baume & Mercier, the world-renowned Swiss luxury watchmaker, a Richemont company, has entered into an agreement with Chow Tai Fook Jewellery Group Limited (Chow Tai Fook), a leading jeweller in Greater China, to form a joint venture in Mainland China which will become the distributor of Baume & Mercier in the world’s fastest growing and second largest luxury market. Baume & Mercier sees this partnership with Chow Tai Fook as a significant boost to the development of its watch business in Mainland China. Chow Tai Fook‘s deep China experience, long-standing reputation and countrywide retail penetration will enhance the reach of the Swiss watchmaker across the country. The joint venture partnership is poised to further extend Baume & Mercier’s presence and raise its brand awareness in Mainland China. It will enhance the support to the existing 70-strong network of retailers in Mainland China, while pursuing new retail opportunities. Both Baume & Mercier and Chow Tai Fook share the same core values emphasizing authenticity, craftsmanship and excellence. The strong and distinct heritage of each of the two partners provides a solid foothold for both to excel and benefit in the thriving Mainland market where increasingly sophisticated consumers appreciate high quality Swiss watches.
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