Cartier brings its jewellery to Bucharest

Luxury giant Cartier is currently scouting the Romanian market, as it seeks to open a single-brand jewellery boutique in Bucharest, Tom Meggle (photo), Cartier’s top man for Switzerland and Northern Europe told ZIARUL FINANCIAR. “We will enter with a jewellery boutique in 2008 at the earliest and in 2010 at the latest,” says Meggle, who is already involved in the efforts of finding a suitable space in Bucharest for the Cartier boutique to be opened. The capital investment in a Cartier boutique is considerable, Tom Meggle says. “Bucharest is one of our priorities today, as the Romanian luxury market includes many interesting investment projects and the fast growing economy will further boost the affluence of international business tourism,” says Meggle who will be back to Bucharest very soon. The Cartier boutique is likely to be opened in partnership with Helvetansa, the domestic retailer of Swiss watches, which has been selling Cartier (watches and accessories) for 10 years (the Cartier jewellery is exclusively sold through the brand’s own retail network). “Cartier has already a partnership for watches and accessories with Helvetansa, and naturally they are in a privileged position. But it is too early for any decision at this stage,” Meggle says. Cartier is part of the luxury group Richemont, which posted 4.827 billion-euro sales and a 789 million-euro net profit in the fiscal year 2006-2007.