Swiss watch anti-climax! Last month, Switzerland announced the "decoupling" with the euro, triggering a sharp appreciation of the Swiss franc, the market had hoped that Hong Kong will soon increase the Swiss watch. (Patek Philippe, PP) suddenly announced last night, a sharp price cuts, Hong Kong retail price reduction of up to 22%, effective yesterday. Hong Kong watchmakers described the news as "shocking" and worried that other luxury brands would follow suit, making it harder for rolex replica uk Hong Kong brand-name retailers to do business. Reporter: Wu Qihui Zheng Bai Ling Wu Yongwen It is reported, PP is the price adjustment action, the purpose is to balance the global product because of the recent exchange rate volatility and the emergence of the price gap problem, the continued emergence of parallel imports. The PP in Europe and Japan have a moderate increase; and the exchange rate trend is relatively strong in Switzerland and Hong Kong, will have to drastically lower prices. Agents and then give a discount There are agents in Hong Kong PP watch industry sources, the price reduction of PP in Hong Kong by 5% to 22% range (seeAir King). "Last year, PP new price list, has been" disguised price ", the same paragraph, but the surface of the same color version, but the price on selling flat 7 to 15%, so this time some products first ". PP reporter yesterday to know the store in Central, the clerk confirmed yesterday PP to seven agents in Hong Kong to issue a new price list, a women's uk replica watches from the previous sale of more than 94 million, the latest price of about 600,000 yuan. The agent can also be the usual practice, and then give customers 10% discount. Clerk refers to the PP in 1999 with the price reduction approach to parallel imports, requiring agents to do seventy-fold, Victoria was about a month. Parallel casualties heavy casualties It is reported that PP yesterday after the price reduction in Hong Kong, the parallel price is about 10% compared with parallel imports, so this is the "heavy casualties." PP annual global production is only about 50,000, the volume is very small, it is generally only to have an appointment to sell. Acting last year because of the mainland to fight corruption, PP in Hong Kong's business is also affected: "to the goods do not Department of the problem, and the Department of a price hold Buzhu, before driving down some people have to buy, must be exhausted last year, a 10 %discount". He said that watches and general consumer goods is different from the price reduction may not be prompted to sell grain, but PP is the second move to combat consumer confidence in the long-term value of the brand is a "bad signal." Another watch business management is concerned, in replica rolex watches the "one brother" PP price reduction, other watches brand had forced "follow the trend": "Vacheron Constantin was originally about PP PP, home PP reduction, you channel point"? Prince Jewelery watches and clocks, said Chairman Deng Juming, the company did not Acting PP, inconvenience to comment on their pricing strategy, as of yesterday there is no other watch brand price changes. He believes that PP in the watch industry has always been more "alone", other brands may not follow its "positive style": "Richemont, Swatch and LV has controlled the world watches more than 80% of the market, channel pricing strategy will be stable I am not too worried. "