Cartier CEO Sees Luxury Demand Withstanding Rising Prices
- Vigneron says his company’s price hikes will be ‘mild’
- Luxury challenges seen as ‘hiccups’ rather than ‘headwinds’
A Cartier luxury goods store in the La Samaritaine department store, Paris.
Photographer: Benjamin Girette/BloombergThis article is for subscribers only.
Cartier plans to raise prices in the next several weeks, making it the latest luxury brand to bet its customers are willing to spend more for their high-end watches, jewelry and accessories.
The “mild” price increase will partially offset the rise of the U.S. and Chinese currencies against the euro, according to Chief Executive Officer Cyrille Vigneron. It will also help to cover higher costs for key materials, such as the diamonds, platinum and gold used in the company’s jewelry, including $275,000 bracelets and $104,000 earrings.