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French luxury brand Cartier is planning to expand its American retail footprint. As you know, Cartier belongs to Richemont. The upscale jewellery and watch-making company announced plans to open another 10 US stores in the coming years. They currently have 30 US stores. This is a sign that European high-end labels are betting that American demand will remain robust post-Covid.
The move is part of Cartier's overall strategy to grow its 270-store global footprint by 10 percent in the next five years. They are eschewing coastal metro areas like New York and Los Angeles, instead exploring potential outposts in Seattle, Austin and Troy. They may add second or third locations in cities where it already operates. "We need more square footage because the traffic is so high," said Cartier CEO Cyrille Vigneron.
The recent deal between Richemont and FarFetch will help boost online sales and improve inventory management. The e-commerce platform will make it easier for Cartier and other brands in the Richemont stable to offer options such as in-store pickup for online orders.
