Swiss watchmaker Hublot has designed an exclusive watch to commemorate the recent Free Trade Agreement between the Swiss Confederation and the People’s Republic of China.
Named the Classic Fusion Sino-Swiss FTA Limited-Edition, the watch is 45 millimeters in diameter with a satin-finished dial and red stitching that represents the national color of China. The caseback is engraved with “Sino-Swiss FTA takes effect” and “July 1st, 2014,” and also includes the national flags of both Switzerland and China.
Though the Free Trade Agreement has been in the works for years, it was not officially signed until last year. The regulations will make trade between the two countries easier by dismantling tariffs, a breakthrough considering that China is one of Switzerland’s largest markets, behind the European Union and the United States. According to Luxury Daily, the agreement will also increase labor and environmental regulations and “improve the legal security for the protection of intellectual property and mutual market access for goods and services.” Hublot is also immediately involved with the agreement, giving them a leg up that “will likely place the brand at the front of the Swiss watch market in China under the new agreement.”
“There will be greater flow of trade, greater market penetration and Swiss watchmakers might even launch a Chinese brand,” says Milton Pedraza, industry expert and CEO of New York’s Luxury Institute.
“Hublot has a great reputation for quality and design so it fits, it is an incredible connection,” Pedraza said.
There will also be future opportunities to create and market watches geared especially toward Chinese consumers. This year, another Swiss watchmaker, Vacheron Constantin, celebrated the Chinese New Year with an “ultra-exclusive timepiece series” that incorporated design elements from Chinese culture. A similar move from Hublot could put the brand on top of the country’s luxury market.
“If you can create a connection between a great product and a landmark event you can sell a product,” Pedraza said.
image source: hublot