News On 2 June 2006, Xinyu Hengdeli and Audemars Piguet renewed Audemars Piguet's PRC exclusive agency agreement. Pursuant to the agreement, the two parties will enter into long-term cooperation by renewal once every three years, marking a new era of alliance between the two. In our picture from left to right: Yonghua Huang and Zhang Yuping (Xinyu Hengdeli), Georges-Henri Meylan and Wolfgang Sickenberg (Audemars Piguet).
"The PRC economy is booming and the whole world takes a positive view towards the PRC market. Audemars Piguet is confident in the prospect of the PRC market and in Xinyu Hengdeli. We hope to further develop this market through sincere cooperation with Xinyu Hengdeli. With an experienced management and an efficient operational team, Xinyu Hengdeli Holdings Limited has been a leading retailer and agent of luxury imported watches in the PRC. For years, it has been the exclusive agent of Audemars Piguet in the Mainland and we have established a long–term, closed business relationship. Audemars Piguet has been in persistent pursuit in bringing PRC consumers the finest product quality and a classy life style. We believe that Xinyu Hengdeli will help us achieve this goal. The extension of our close and long-term cooperation will ensure a faster and better development for Audemars Piguet in the PRC," said Georges-Henri Meylan, Global President of Audemars Piguet.
"We are excited about the renewal of agreement with Audemars Piguet," said Zhang Yuping, Chairman of Xinyu Hengdeli Holdings Limited, commenting on the cooperation. "Our partnership in the luxury watch market in the PRC proved very successful over the years. This long-term exclusive agency agreement marks a new era of our cooperation. With over a hundred years of history, Audemars Piguet has established its predominant position in the global market of luxury watches with its classic design and superior quality. I am confident that the furtherance of our cooperation will provide a robust foundation for building a brighter future of the group and Audemars Piguet in the PRC market."
Listed on the Hong Kong stock market since last September, the Xinyu Hengdeli Group features an extensive distribution network comprising 75 boutiques in the biggest industrialised cities of China. With over 300 wholesale customers in more than 40 cities throughout the country, it has established strong ties with the biggest international groups (Swatch Group, Richemont, LVMH, Rolex etc). The group holds agency contracts for 19 watch brands. It also owns its own brands (Nivada, Olma and Numa Jeannin).
July 05, 2006
