Jakarta welcomes a prestigious addition to its timepieces

Jakarta welcomes a prestigious addition to its timepieces

JAKARTA (JP): The economic and political crisis does not deter
international luxury brands from developing their businesses in
the country.

This month Marks & Spencer opened their new outlets in three
prime locations in the city: at Plaza Senayan, Plaza Indonesia
and Pasaraya. Earlier, Louis Vuitton had launched its shoe line,
also at Plaza Senayan. And the Louis Vuitton Moet Hennessy (LVMH)
group did not stop there. On July 1 it expanded its prestigious
line to include watches and jewelry.

Jakarta welcomes the addition of Ebel watches at the Time
International shop in Plaza Senayan.

The general manager of LVMH Watch & Jewelry Southeast Asia
Pacific Division, Christian Weissbach, who was here recently to
discuss the newly acquired Swiss watch brand Ebel, sounded very
optimistic about expanding LVMH acquisitions to watches &
jewelry.

When asked about the financial uncertainty in Indonesia at the
moment, he replied, "Of course there is always a risk involved
when expanding a company. However, we are dealing here with a
product that has been around for many years and maintains its
standards of excellence... we are not building something from
scratch."

He stated that he feels there will be a market for his product
in Jakarta, despite the fluctuating rupiah, "We cater to a
specific niche in society, and I believe we have a strong market
for that here in Jakarta."

Weissbach is very matter-of-fact about the recent purchase of
Ebel. He stated that it will take at least a year to re-
structure the head office, realize a profit and run the company
at its full potential. They are not planning on overstocking
their shelves, but, instead, showcasing products to suit their
customers. Although the recent acquisition includes both watches
and jewelry, Jakarta will not immediately see any of the
exclusive designs by jeweler Fred Joaillier. Perhaps in the
future, and if the market is ready.

When asked how they planned to embark on the newly to be
distributed product, he confidently stated, "The watch industry
is a slow industry, so we are going to clean the market and pay
more attention to the brand... we are going to really push the
product through advertising."

The head office for the Asia Pacific region, which is located
in Singapore, is formulating the new strategy, and will focus on
implementing it over the next year.

LVMH is approaching this venture with a great deal of optimism
and confidence. "We plan on taking it as it comes," stated
Weissbach, when asked on possible expansion ideas. "We have the
space and the options to purchase other brands. However, watches
are just a part of what we encompass." He summed up the
distribution of watches into Jakarta quite eloquently, "If you
don't dare to try, nothing will happen!"

LVMH also recently bought TAG Heuer, Zenith and Chaumet, and
now represents a collection of fine quality products. The group
has ventured beyond its trademark products of leather goods,
wines & spirits, fragrances and cosmetics, and this demonstrates
their desire to play a major role in all aspects of the luxury
goods trade. LVMH is now regarded as the third largest leading
watch group in the industry. (Danielle Bray)