Chopard mulls long-term opportunities in MSAR

Swiss luxury watchmaker Chopard believes the company could gain long-term profit in Macau despite the current economic slowdown, said the company’s co-president and artistic director Caroline Scheufele, South China Morning Post reported.
According to Ms. Scheuele, the company is planning to open a second boutique in Wynn Macau on the Peninsula, following its latest one in Wynn Palace in Cotai.
The upcoming opening will bring the company’s boutiques in the city to six, with the other ones located in The Venetian Macao, the Four Seasons, and City of Dreams, apart from the two in Wynn Macau and Wynn Palace.
Ms. Scheufele believes Macau has the potential for the expansion of the company given more new casino projects are opening up.
“There are huge developments going on. There are new casinos such as MGM Cotai, which will have another 1,500 rooms. People who live here still believe in Macau and the Chinese will always gamble. It is in their blood,” Ms. Scheufele said, as quoted by the newspaper.
The co-president reckons the change in the purchase patterns of Mainland Chinese visitors on high-end products is not necessarily due to the economic slowdown. “There are a lot of changes going on within the luxury market in general. It’s not just to do with the slowdown,” she said.