Swiss Kirchhofer in China Headquartered in Hainan

On September 25th, the famous Swiss international luxury retailer Kirchhofer officially entered the Asia-Pacific market via "cloud agreement signing", and landed its China headquarters in Hainan. This is the first overseas international luxury retail group to settle its Chinese headquarters in the Hainan Free Trade Port.

That night, Kirchhofer and the Hainan Provincial Bureau of International Economic Development signed a strategic cooperation agreement, announcing that Kitchhofer would settle its Chinese headquarters in Hainan and vigorously expand its business in China via the platform of the China International Consumer Goods Fair

Kirchhofer is one of the largest watch and jewellery sellers in Switzerland, and is currently the company with the greatest watch brand agency rights in the world with more than 120 Swiss watch brands under its agency. Its business covers high-end and well-known jewelry, leather goods, cosmetics, souvenirs and health products. It is the most popular duty-free shopping chain store in Switzerland.

"With 75 years of professional experience in the watch and jewelry industry, we will offer the best experience to consumers in China and even around the world at the Hainan Free Trade Port." Stéphane Linder, CEO of Kirchhofer, said the epidemic has battered global luxury business, the active deployment of Kirchhofer in the Hainan Free Trade Port will conducive to the future development of enterprises.

Affected by the epidemic, the global luxury goods industry suffered a full recession this year. However, according to a report released by the Boston Consulting Group, the Chinese market is likely to achieve double-digit growth against the global trend.

"Relying on vigorous purchasing power, China will maintain its position as the world's largest luxury market for the next 15 years." Stéphane Linder is strongly optimistic about the Chinese luxury market.

On July 1 this year, Hainan’s offshore duty-free policy has undergone major adjustments to unleash bigger potential for luxury consumption. Stéphane Linder said that the substantial increase in the duty-free quota has given 80% of Swiss luxury watch brands the opportunity to enter the Chinese duty-free market.

Han Shengjian, Director of the Hainan Provincial Bureau of International Economic Development, said that the establishment of the China headquarters of the Kirchhofer in Hainan will buck up the construction of Hainan to be an international tourism consumption center. The bureau will continue to provide targeted and high quality service for Kirchhofer and other global investors in the development of the Hainan Free Trade Port.