Swiss watchmakes find more time for China
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Published/Last Updated: November 12, 2012
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Published/Last Updated: November 12, 2012
Click here to read the article!
The article centers around the world-renowned Swiss watches and the commodity for such in the country of China. China accounts for 7.8% of the exports of Swiss watches (in terms of value). To accomodate a large possible consumer base, Switzerland watches have began to transform and create new lines of watches especially for the Chinese population. For example, Geneva watchmaker Vacheron Constantin launched a new line of watches called the "Legend of the Chinese Zodiac". Although, there are some who argue that the transition and conformation to Chinese tastes should be a cautious one because when China evolves, they will not need the Swiss to make watches for them anymore since they can make it themselves.
I feel like this cultural story has been often repeated. China is a mass market for many companies and organizations due to it being the largest populated country in the world. This means there is a large possibilty for a huge consumer base for a variety of businesses. However, a company's best market can also be its worst enemy. China is rapidly evolving (technologically and culturally), and, therefore, they can soon match any production outline and make the manufacturing process even cheaper than many businesses can or will do. Thus, China is a potent enemy to many of its foreign business investors because it can potentially ride the business out of the country and domestically prosper by itself.
Swiss watches with their immense history and cultural sentimental value - despite its seemingly absurd dollar amounts - are priceless. Expertise in watchmaking can be traced back for decades and now it has become a valued commodity in Switzerland. Generations upon generations have passed on the Swiss watch tradition. Switzerland watches have materialistic value, but more importantly, cultural value to the people of Switzerland.
I feel like this cultural story has been often repeated. China is a mass market for many companies and organizations due to it being the largest populated country in the world. This means there is a large possibilty for a huge consumer base for a variety of businesses. However, a company's best market can also be its worst enemy. China is rapidly evolving (technologically and culturally), and, therefore, they can soon match any production outline and make the manufacturing process even cheaper than many businesses can or will do. Thus, China is a potent enemy to many of its foreign business investors because it can potentially ride the business out of the country and domestically prosper by itself.
Swiss watches with their immense history and cultural sentimental value - despite its seemingly absurd dollar amounts - are priceless. Expertise in watchmaking can be traced back for decades and now it has become a valued commodity in Switzerland. Generations upon generations have passed on the Swiss watch tradition. Switzerland watches have materialistic value, but more importantly, cultural value to the people of Switzerland.