To Cartier as the representative of the Richemont Group, layoffs difficult to pull performance is still difficult to self-help

Trapped in the performance of a substantial decline, with Vacheron Constantin, Cartier, Montblanc and many other brands of Richemont recently high-level exchange transfusion, a substantial layoffs and other issues. At the end of November, Richemont announced the launch of Vacheron Constantin, Count two major layoffs 200-250 jobs plans, followed by protests caused by employees. In fact, as early as May of this year, the Richemont Group to save the declining performance, once on its Cartier, Piaget and Vacheron Constantin three watch brands a substantial reduction of 300 positions. According to the latest results released by the Richemont Group, as of September 30 the first 6 months, the group profit of 540 million euros, down 51% year on year; sales of 5.09 billion euros, a decrease of 12.6%. Which Cartier watch sales in China fell about 60% of high-end watches, random triggering the high-level turbulence Richemont. Multi-brand large-scale layoffs As a result of dissatisfaction with large-scale layoffs, the Richemont Group of 150 employees recently in Vacheron Constantin and Piaget launched two protests near the headquarters of the replica watches brand. November 14, with Piaget jewelry, IWC, Vacheron Constantin, Cartier luxury brands such as Richemont Group, said about 250 jobs in Switzerland, layoffs. Earl and Vacheron Constantin will be affected by the deepest layoffs. According to Reuters latest news, trade unions and Richemont reached a final agreement, the number of job cuts than the original plan, "substantially reduced", but the specific figures are not disclosed. In this case, In the first half of this year, Richemont has conducted a large-scale layoffs. Richemont reduced the original plan to 300 employees to 100 people, the largest number of layoffs is Cartier, a total of 70 jobs, the remaining 30 positions in the Earl and Vacheron Constantin reduction, in addition to some positions through early retirement, voluntary separation , Internal transfer, etc. to achieve. Relevant information, 2016 Richemont Group will reduce more than 500 jobs, accounting for Switzerland, the total number of employees 8500 5.9%. It is reported that, in addition to the underlying layoffs to reduce expenses, the Richemont high level is also changing. According to reports, Richemont Chief Financial Officer and Chief Executive Officer will retire in 2017. Recently, the Group announced that Montblanc CEO will be April 1, 2017 transferred to Group Business Director. In addition, due to the performance of Cartier declined year after year, executives continued to leave. Last year, Cartier CEO, international retail director, executives have switched to other luxury goods companies, led to a series of high-level Cartier personnel replacement. In this case, In the near future, Richemont says it will not have a CEO position after reorganizing its executive hierarchy, with Johann Rupert, the majority shareholder, serving as executive chairman and reporting directly to the board of directors of various brands and divisions to strengthen the Group's response to market changes Ability. In this case, Difficult to swiss replica watches pull continued performance in the doldrums As a result of the global economic downturn, especially in China and the United States watch and jewelery market shrinking, as well as terrorist attacks on the impact of European tourism consumption, Richemont Group's main business watches and jewelry are subject to Hit. In this case, In the first six months ended Sept. 30, Richemont recorded a profit of € 540 million, down 51% year-on-year, and its sales slumped to € 5,090 million, or 12.6%, according to the company's November financial results. Among them, Vacheron Constantin, IWC, Panerai and Piaget luxury watch brands, including sales in the first half fell 17%, while the Group's jewelry brand watch sales fell 13%. In this case, In September, the Richemont Group issued profit warning, said the first half of the Group's profits fell 45%, including Cartier's poor performance. In fact, since 2014, Cartier performance slowed; from 2015, Cartier's declining performance began to drag the Group's development. At the beginning of 2015, Richemont announced fiscal third quarter fiscal year 2014 results, the core business of the Group by the performance of the Cartier watch sector, the Group's third quarter sales growth slowed for the past six years, the worst performance. The end of 2015, Cartier peak performance compared with the level of 2012, high-end watches in mainland China sales have dropped about 六成. In this case, Fortune Quality Institute data show that Richemont Group in 2015 sales of 10.41 billion euros, an increase of 4%, compared with 2014 increased by 5 percentage points. 2015 Richemont to 2.67 billion euros to achieve the highest profit. However, Hong Kong and Macao sales in the doldrums, wrist watch category decline in 2015 sales of only 4.1 billion euros. It is noteworthy that Richemont's profit growth rate since 2011 has always been in a state of decline from 80% in 2015 to 10%. In this case, \ Action is still difficult to self-help To promote the development of the Chinese market, Richemont this year in the Mainland a lot of action. In July, Cartier released Cenozoic star deer Han film for its commercials, and announced deer Han as its brand friend. In December, the Richemont Group watch brand Jaeger-LeCoultre released a net red papi sauce co-advertising. However, this does not seem to have a positive impact on the Richemont Group, and the cooperation with the papi sauce has led to extensive criticism of Jaeger-LeCoultre decision. Previously, Cartier co-operation for replica watches Andy Lau, and Jaeger LeCoultre's brand of friends for Zhao Wei. Industry sources, the Richemont Group, the co-star and the past is quite different, it can be said, deer and papi sauce and two brands consistent brand positioning does not match. Brand intends to close to the Chinese young consumers' intention is obvious, but its product positioning, pricing and deer, papi sauce driven by the young groups do not match. In this case, Zhou Ting, president of Fortune Quality Research Institute believes that the Richemont Group is currently in the process of self-revolution, she suggested that the Group should strengthen its brand of real control to strengthen the headquarters of the unified management of the region, especially the market and channels; The overall electronic commercialization, to enhance online service capabilities, and with high-quality source of third-party platform to achieve cooperation; media promotion to intermediary, to break through the tradition of public relations companies to market communication, directly to the C-side precision marketing. At the same time, Zhou Ting said that the Richemont Group should establish a global service system.