China market for luxury watches

miu miu outlet There are about a year, I published an article here on Forbes about the " erosion exclusive tourbillon. " The thesis of the report was to investigate how the function once ultra-exclusive luxury watch has become increasingly democratized through the efforts of enterprising Chinese watch brands. What was once a luxurious pleasure will cost at least $ 50,000 to $ 100,000 was now in some cases, for under $ 1000. The same thing for a lower price ? not at all , but were for the collector of watches they represent an interesting alternative to something that is not often not affordable. Learning the Chinese watch industry , I 'm more into some of the leading brands reaffirm the value of " Made in China" involved . I have a group of people less interested in perfectly reproduce and investing in Switzerland found a new market for Chinese high -end watches that offer lower prices compared to the Swiss with a new sense of culture and the Chinese characters into their designs . One such company is based in Hong Kong Memorigin . I spoke with its founder , is William ( Lam Wai ) Shum in the Chinese luxury watch market , whirlpools , the future, and how the Chinese culture contributes to the nation is famous impressive appetite for luxury watches. Ariel Adams ( AA) : How would you personally describe the Chinese consumer have a passion for luxury watches ? William Shum (WS ): Chinese luxury consumers buy a clock on two major factors. First, it is the reputation of the brand. Can convince a famous brand Chinese consumers to buy luxury because he well known based on sales, service and advertising. Second, they buy because of the design of the clock . And they do it in that order. The level of importance of this factor design, but also increases the number of Chinese luxury consumers are willing to buy a clock , if it's a design that she attracts . cheap miu miu handbag What I noticed is that many Chinese luxury consumers have already collected all the known brands and are now helping their taste and uniqueness in new brands with great designs that express them interested . AA: China is the world 's largest consumer of luxury watches. Do you think that the Chinese have a special attachment for watches or are they so in quality watches than any other culture? WS : Like most luxury customers around the world , the Chinese consumers are heavily influenced by advertising and luxury as famous drawings they see are strongly encouraged to buy. However, the Chinese might be unique when it comes to looking for what they think, how to define cultural designs coming. These designs are a boon impart good for them, and the Chinese are so often the idea of ​​wearing something they feel they are a kind of happiness . About how many Chinese luxury buyers are collectors, they have complicated watches with many features and movements of world class. AA : Your Memorigin brand produces only tourbillon watches . Why is that ? WS : Because Memorigin is a new brand based in Hong Kong, we find the best watch designers and collectors to design different styles. As the concept of my brand is the fusion of Eastern and Western art , we have watches intersection and find famous designers from Hong Kong to design for the different collections. Although my family has a house plant with a history of 40 years , my brand new focus on the market and we want to a specialty on the market and attention . The world has few factories, the tourbillon movements and my factory is able to produce one of them. We are now only produce tourbillon watches that show uniqueness in the early stages of Memorigin brand. miu miu handbag AA: How important is it to have a good figure in the Chinese and the high society of Hong Kong ?