Luxury watch maker Officine Panerai-Firenze SA is famed for its big and bulky World War II-era wrist pieces. But its best sellers are now becoming smaller and smaller, largely due to the might of Chinese buyers. The watchmaker’s pivot is an example of how luxury good makers are retooling themselves to suit Chinese tastes. China, where the novel pathogen first emerged, has become a lifeline for the luxury industry amid Covid-19. LVMH’s China sales last quarter rose more than 65% from a year ago while the overall revenue for the wine-to-watches luxury group dropped 38%.

Source: Mint September 13, 2020 06:56 UTC