It's a major step for Richemont, the world’s second-largest luxury goods
group after LVMH Moët Hennessy Louis Vuitton. And it comes as the
sector faces major challenges. Richemont on Monday said demand for
luxury goods has fallen dramatically, and the company is facing the
“toughest market conditions” since its formation 20 years ago.
is hoping the new Ralph Lauren line will turn things around. Lauren, who has collected watches
for years, said he dreamed for years of putting his name on a
“Basically these are watches that I would
want to wear myself,” explained the designer. “It
took me a long time to find the right partner and then to come up with
a design that was all my own,” said Lauren.
“I wanted a distinct
specialness in my watches.”
Lauren said working with Richemont, which also owns Piaget, IWC and Jaeger-LeCoultre, brought him immediate
“legitimacy” in the watch trade. “Everything is of the highest level,”
he said. “There is no questioning the level of the movements and
The watches start at a whopping $9,000. The most expensive
model, a limited edition platinum piece, costs $70,000. Models include a vintage-looking thin, round
evening watch with intricate guiochet details done by a machine created
in 1892; a watch formed like a stirrup that draws on Lauren’s
equestrian heritage, and a sporty round model with screws on the bezel.
Read "Ralph Lauren Launches Watches" here.