"Cartier will increase the prices of its watches and jewels ", said the CEO of the maison Cyrille Vigneron in Bloomberg.
The choice comes from strengthening the dollar against the euro, but also and above all from inflation for precious materials including diamonds, platinum and gold. CARTIER has cut off the supply of diamonds from Russia, following the invasion of Ukraine, and this is contributing to the increase in costs, even if Winemaker expects the effect to be short-lived.
Details of the price hikes were not disclosed in the interview, but CARTIER had previously stated that it expected increases of between 3% and 5%.
"We have to be careful not to adjust our prices too quickly," Vigneron said.
Although the Western world is facing a sharp rise in the cost of living, Winemaker he believes the rich will continue to spend. “The overall growth of world wealth and overall distribution are coming in favor of global luxury,” he says Bloomberg.
Much of the world, outside theAsia, is returning to more normal patterns of work, leisure and consumer spending, but the centers of major global cities like London e New York still suffer from the lack of tourism. This could be one of the reasons why CARTIER is looking to open more boutiques in secondary cities. In the United States, for example, the masion should open stores outside of major cities such as New York, Miami e San Francisco.
