Swiss clocks find a smile in Hong Kong

Watchmaking shops are arranged in an arc on the floor of T Galleria, a shopping center in Tsim Sha Tsui, a Hong Kong district frequented by Chinese tourists looking for luxury goods.Piaget created a watches bar decorated with tropical leaves.At BLANCPAIN, it is the clear woodwork and the beautiful era lamps that dominate.Longines has placed a panel next to the box to indicate that payments with the WeChat app are accepted.

On this afternoon at the end of July, the atmosphere is frantic.Young women wander, arms loaded with Louis Vuitton and Chanel bags.A family defeated their suitcases on the ground, seeking to store their latest purchases there.

Spectacular rebound in sales

In Hong Kong, the largest market for Swiss watchmaking, Swiss watches sales have good health insolent.In June, they believed 39% to reach 270 million francs.During the first half of 2018, they increased by 30%, to 1.5 billion francs.

On the store side, the recovery is confirmed."We have seen our sales grow by 20% per month in the past three months," says Karson Choi, the boss of Unique Timepieces, a network of 23 brands that sell many Swiss watches.

Read also: China becomes the second destination for Swiss watches

This rebound, which manifested itself in summer 2017 and has taken speed since the beginning of the year, represents a spectacular reversal of the situation.In 2015, in Hong Kong, Swiss watch sales have in fact plunged."We were coming out of a golden decade during which most of the brands had extended their network of shops and the resellers had massively increased their stock," recalls Harold Sun, the president of the Hong Kong Watch Federation.

Chinese anti-corruption campaign stroke

But the launch of a vast anti-corruption campaign by Chinese President Xi Jinping brought a brutal stroke at this euphoria period.Had enlisted two years of scarcity.Unable to sell their stock, several resellers had to put the key under the doormat.Swiss brands, like Tag Heuer, also had to close stores.

Exchased by this crisis, the retailers continue to be cautious."Few new shops have emerged in recent months," notes Thierry Dubois, the representative in Hong Kong of the Swiss watch federation.Mood is reducing the network."We have closed several points of sale in recent years," says David von Gnten, who heads the Chinese division of Audemars Piguet.We prefer to have less and focus on those who are best placed.»»»»»»»»

Put yourself within reach of "Personal Shoppers"»»»»»»»

Multi -brand brands have given up resuming their place in the most prestigious neighborhoods, such as Tsim Sha Tsui and Causeway Bay."Some have opened shops near the Chinese border, where rents are cheaper," says Harold Sun.This puts them within reach of the personal shoppers who come to buy watches for wealthy Chinese.»»»»»»»»

The profile of buyers has also evolved.The Chinese continue to represent the vast majority - around 70% - but their share has decreased for local buyers and other tourists.The Chinese now take advantage of their stays in Europe or elsewhere in Asia to fill up with Swiss timepieces.

Brands open shows directly on Chinese soil

And there are always more many of them shopping at home."The supply of Swiss watches has progressed a lot on Chinese soil," notes Thierry Dubois.Many brands now have showrooms in Shanghai and Beijing.»»»»»»»»Audemars Piguet has six in China, against ten in Hongkong and Macao.

Read also: the messengers of the West in China

Another change, "Chinese visitors have ceased to offer watches as gifts, says Karson Choi.They are now buying them to wear them themselves.»»»»»»This benefits the best known brands, such as Rolex, Cartier or Audemars Piguet, whose timepieces are perceived as an investment."These three brands are sold exceptionally well," he continues.We are practically out of stock.»»»»»»»»

It also promotes slightly cheaper watches. «Le prix de vente moyen oscille désormais entre 50 000 et 100 000 HKD (6000 à 13 000 francs), contre 300 000 à 500 000 HKD (40 000 à 60 000 francs) avant la crise»»»»»»»», note Harold Sun.

Offer experience to customers

The clocks that do the best are those who offer experience to their customers. «En Asie, les gens veulent être pris en charge, plongés dans l’univers de la marque»»»»»»»», fait remarquer Denis Martinet, dont la société Mad & Associates représente plusieurs marques horlogères suisses à Hongkong.

Audemars Piguet knew how to capitalize on this desire.Located on the 21st floor of a glass tower in the middle of the Hong Kong business district, the house AP looks like a private apartment.Beige tones surround a table on which a teapot and cups are placed as well as art books.A long wooden table erected to accommodate guests and a bar topped with liquor bottles complete the decor.

Some little -known clocks are a hit in China

«Nous avons imaginé comment les fondateurs de notre marque, Jules Louis Audemars et Edward Auguste Piguet, auraient reçu leurs clients s’ils étaient encore en vie»»»»»»»», relate David von Gunten, qui dirige la division chinoise du groupe.In this felted space inaugurated in February, customers can organize a business meeting, a lunch with friends or rest.One of them celebrated his birthday with a dozen friends, at the brand's expense.

More surprisingly, some watchrs little known in Switzerland, like the Titoni Soleurois or the Biennois Rado, are a hit in Hongkong and China."Between 70 and 80% of our sales are made in this region," explains Daniel Schluep, the Titoni CEO, which recalls that the brand has been present for sixty years.Rado, whose clocks adorn all the Hong Kong metro stations, arrived in the Middle Empire in the 1980s already.

The boom in online sales

Brands that have invested online sales channels are also pulling out of the game."Chinese clientele is mainly made up of young entrepreneurs," says Karson Choi.They are used to shopping on their smartphone and want to be able to acquire watches as well.»»»»»»»More discreet, this method also makes it possible to avoid the bloodhounds responsible for the anti-corruption campaign.

Titoni sells his timepieces on Tmall, the Alibaba portal.Audemars Piguet sells his own through a pop-up store on the WeChat social network.Other brands, such as Tag Heuer and Zenith, have invested JD.com, another e-commerce site.The latter offers a delivery service with employees in livery and white gloves.