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Swiss watchmaker Richemont launches lower priced brand to lure millennials

Reuters  |  ZURICH 

ZURICH (Reuters) - Luxury goods group Richemont has launched a new watch brand, Baume, offering trendy time pieces priced in the hundreds rather than the thousands of dollars to lure young people away from their smartphones for reading the time. Swiss watchmakers have seen sales improve recently, after a prolonged downturn, but are struggling to reach young people who wear no watch at all or a connected Apple Watch and want online services luxury watchmakers have been slow to embrace.The new Baume brand will be sold exclusively online with prices starting at $560, a clear indication it is ...

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First Published: Wed, May 16 2018. 21:59 IST