{"id":13610,"date":"2012-07-16T04:07:37","date_gmt":"2012-07-16T04:07:37","guid":{"rendered":""},"modified":"2012-07-16T04:07:37","modified_gmt":"2012-07-16T04:07:37","slug":"Hublot-combats-global-slowdown-by-Spending-More-","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=13610","title":{"rendered":"Hublot combats global slowdown by Spending More!"},"content":{"rendered":"<p><b>When times get tough, Hublot CEO Jean-Claude Biver says spending is key.<\/b><\/p>\n<p>Hublot exports 40 percent of its products to China. And with China&#8217;s GDP numbers out Friday morning indicating economic growth falling to 7.6 percent, the slowest pace in three years, the luxury time-piece company has a lot to think about.<\/p>\n<p>However, the company, which sells watches with price tags ranging from a couple thousand dollars to couple million, says it has a plan.<\/p>\n<p>&#8220;There is only one way to catch up, that is to make more noise than others, to make more noise, you need more investments,&#8221; Biver told CNBC.<\/p>\n<p>The more uncertainty there is, the less you see the future, he added. That means investing more in research and development.<\/p>\n<p><b>Big Bang Leopard<\/b><br \/>\n<iframe width=\"500\" height=\"315\" src=\"http:\/\/www.youtube.com\/embed\/TE14pLNGRGQ\" frameborder=\"0\" allowfullscreen><\/iframe><\/p>\n<p>&#8220;The research and development is the only way to master the future. When there is no innovation, there is no future,&#8221; he said. &#8220;When the future is not clear, you must invest in innovation. The more you innovate, the more the future will be your friend.&#8221;<\/p>\n<p>Hublot currently holds a patent &#8216;Magic Gold&#8217;, a scratch-resistant gold used in its watches. The company continues to look for new ways to innovate, separating itself from its competitors.<\/p>\n<p>&#8220;In a time of crisis, this type of product is so much different, so revolutionary and so unique that people, if they buy a gold watch, they will come and buy our gold watch. As soon as you are in crisis, innovation is key.&#8221; Biver said.<\/p>\n<p>The battle has only begun for European fashion houses.<\/p>\n<p>While Europe&#8217;s debt crisis is in for forefront for many investors and businesses, it&#8217;s the slowdown in the world&#8217;s second largest economy and biggest consumers of luxury goods that could dig into the profits of high-end retailers.<\/p>\n<p>This week, Burberry reported weaker than expected sales, citing concerns over Europe&#8217;s debt crisis and the slowdown in China. Several companies, including Nike (NKE), Cummins (CMI) and Cartier, are all feeling the pinch from weakening Chinese demand.<\/p>\n<p>Hublot, which is owned by the conglomerate LVMH Moet Hennessy, is relatively new to the Chinese market, having only entered two years ago, but it&#8217;s heavily injecting capital into its biggest customer. Biver wants to expand its stores from the current five to 14 by year-end.<\/p>\n<p>In this weak economic climate Hublot is making noise from the roads to the courts. It recently partnered with Ferrari and has Miami Heat&#8217;s Dwyane Wade as its ambassador.<\/p>\n<p>&#8220;The Swiss watch industry had a record year in 2011 and will do another one in 2012, although the year is not finished,&#8221; Biver said. &#8220;But I think we are plus 17 percent compared to last year, and as we have a slowdown in growth, we will end up between 8 to 10 percent more than last year, which means in 2012, it will bring us a second consecutive record year of exportation which is a phenomenal performance considering the uncertainties we have in the world.&#8221; <\/p>\n<p>http:\/\/finance.yahoo.com\/news\/hublot-combats-global-slowdown-spending-112403307.html<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When times get tough, Hublot CEO Jean-Claude Biver says spending is key. Hublot exports 40 percent of its products to<\/p>\n","protected":false},"author":4738,"featured_media":72448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[],"tags":[],"class_list":["post-13610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x150.jpg","medium":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","medium_large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","1536x1536":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","2048x2048":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-highlighted-post":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-featured-post-medium":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-featured-post-small":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x90.jpg","colormag-featured-image":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-default-news":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x150.jpg","colormag-featured-image-large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-block-extra-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-small-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-medium-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg"},"magazineBlocksPostAuthor":{"name":"beatrice815","avatar":"https:\/\/secure.gravatar.com\/avatar\/e781ccd9ff4e1fc872b56279439ca2d7bb36cb62b0c98904ebd0e515f6f3ae53?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"When times get tough, Hublot CEO Jean-Claude Biver says spending is key. 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