News Finding itself cramped in its Geneva premises, Vacheron Constantin has decided to invest 100 million francs over the next three to four years (production capacity and R&D), in addition to the 30 million already earmarked for the construction of a building in Le Brassus. On completion of this second stage of the development project in 2020, the workforce will have doubled to 1,300 employees.
Between now and 2016, the company plans to stamp 100% of its mechanical movements with the Geneva Hallmark, compared to 70% at present. While it expects to produce 17,000 to 18,000 watches in 2011, there are plans eventually to attain a capacity of 27,000 to 30,000 mechanical timepieces.
Juan-Carlos Torres, the company’s Director since 2005, said: «Today, we could sell 100% of our production in China and Hong Kong alone». However, the manufactory does not wish to neglect other markets. Vacheron Constantin recently opened an own-name point of sale in New York, its 28th worldwide. There are also plans for Paris, London, Seoul, Taiwan, Tokyo, Los Angeles and Miami. The network of traditional retailers includes 400 points of sale in all four corners of the globe.
October 25, 2011
