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Vacheron Constantin to Double Workforce, Add Output, Temps Says

Oct. 7 (Bloomberg) -- Vacheron Constantin, a watchmaking unit of Cie. Financiere Richemont SA, plans to double its workforce to 1,300 by 2020 as it spends 100 million Swiss francs ($109 million) on buildings and production, Le Temps reported, citing Juan-Carlos Torres, head of the brand.

Vacheron Constantin aims for all its watches to qualify for the stamp of the seal of Geneva, a sign of craftsmanship, by 2016 compared with 70 percent currently, Torres said, according to the newspaper. The brand plans to produce as many as 30,000 mechanical watches annually compared with 17,000 to 18,000 this year, the newspaper said. The economic slowdown hasn’t weighed on sales, Le Temps reported, citing Torres.

To contact the reporter on this story: Thomas Mulier in Geneva at tmulier@bloomberg.net

To contact the editor responsible for this story: David Risser at drisser@bloomberg.net

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