Friday, March 20, 2009
Ralph Lauren Watch and Jewerly Company
This Ralph Lauren watch with the gold stirrup shaped bezel is causing quite a stir among watch enthusiasts. They are eagerly anticipating the arrival of this watch in May 2009. The watches were first unveiled at SIHH in January 2009. This watch is part of a new watch collection carrying the iconic brand name of Ralph Lauren.
This watch is the offspring of a brand new company "Ralph Lauren Watch and Jewerly Company", formed in September 2008, and based in Geneva Switzerland. This company is the partnership between two leading companies, Polo Ralph Lauren and Richemont Group. This new company will design, develop, manufacture and distribute luxury watches and fine jewelry. For both companies this venture is a first. This is Richemont's first such venture with a luxury fashion designer and its Polo Ralph Lauren first venture into the luxury watch and jewelry business.
Ralph Lauren, Chairman and Chief Executive Officer of Polo Ralph Lauren Corporation said, “I have waited a long time to create and introduce timepieces that I feel exemplify the ultimate in luxury and quality. Richemont shares that understanding and has the global reputation and experience to fulfill these shared goals. I have the highest confidence that this unique partnership will be tremendously successful and an important part of our global luxury accessories strategy.”
Johann Rupert, Executive Chairman of Richemont, said, “I have long admired Ralph Lauren. His impeccable taste, style and attention to detail are unique. These factors, combined with Richemont’s expertise in jewelry and watches has led to a fascinating business venture. Jointly, we aim to create a new luxury business, which I am confident will develop into a world leader. This is an exciting partnership and I am very happy to work with Ralph Lauren on this project. I am very enthusiastic about the timepieces we will be unveiling at SIHH 2009.”
Many people people are speculative about forming a new luxury company in times of economic uncertainty, but the overwhelming enthusiasm to the new watch collection displays positive signs for the future of the "Ralph Lauren Watch and Jewelry Company". It is pleasing to see growth and creativity.
Richemont owns a portfolio of leading international brands. Each brand is managed independently of one another, thus maintaining the unique quality and creativity. Richemont has five distinct areas of operation:
1)High end Jewelry Companies (which also sell watches): Cartier and Van Cleef & Arpels.
2)High end watchmakers: Jaeger LeCoultre, Piaget, IWC, Baume & Mercier, Vacheron Constantin, Panerai, A Lange & Sohne & Roger Dubois.
3)High end writing instruments: Montblanc and Montegrappa
4)High end leather and accessories: Alfred Dunhill and Lancel
5)Other businesses: Chloe and 19.5% interest in British American Tobacco.