The luxury market in Macau is still “strong” and possesses “great potential”, according to the General Manager for Hong Kong and Macau of Breitling, Queenie Chan.
The Swiss watchmaking company opened two boutiques in the city six months ago, one at integrated resort The Parisian and another at The Venetian, but according to Ms. Chan, despite the short period in the market, the company is very upbeat about the local luxury sector.
“We know that in terms of tourism arrivals the city is a bit down right now, but by seeing the performance in the last six months we’re very confident in the market here. Our brand positioning and price range is actually very suitable for the current economy,” Ms. Chan told Business Daily.
The total value of retail sales of watches, clocks and jewellery reached MOP3.34 billion (US$429.4 million) in the last three months of 2016, a 1.6 per cent year-on-year decrease from the same period the previous year, according to the latest data from the Statistics and Census Service (DSEC).
Meanwhile, the value of watches imported to the MSAR in the first two months of 2017 amounted to MOP842.1 million, increasing 36.7 per cent year-on-year from the same period last year, while the value of watches exported between January and February of this year went down 6.7 per cent yearly to MOP192.3 million.
When questioned if the watch company was planning to open any new operations in the city, the general manager stated the company would continue to focus on its existing stores.
A DC-3 to conquer the world
Ms. Chan’s statements came on the sidelines of the Breitling DC-3 World Tour event, an initiative by the Swiss watchmaker to make a 77-year old plane become the oldest aircraft to fly around the world.
Having started in Geneva, Switzerland, on March 9, the world trip will pass through 55 cities finishing in the Swiss city of Sion in September.
“This aircraft model was the first able to cross the United States from one coast to the other and allowed airline companies to have profits for the first time […] The DC-3 taking part in the trip made its first flight in 1940, served as a bomber for one day in World War 2 and now has around 75,000 hours of flight time,” the airplane pilot Francisco Agullo told Business Daily.
Having already completed nine round-the-world trips in different planes, Mr. Agullo, who is also the owner of the DC-3 after purchasing it in 2008, will now attempt the trip for a tenth time in what he describes as the oldest functioning airplane in the world.