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Swiss Watchmaker Destroys £400M of Luxury Watches to Keep Prices Inflated

by Joe Alvarez
April 1, 2019 2 mins 5 yrs

Richemont, the Swiss luxury company that owns Cartier and Montblanc, destroyed £400M of their own watches to prevent them from ending up on ‘non-riche’ wrists in past few years. After shifting habits and new competitors caused a slump in the timekeeping market, the well-to-do watchmakers […]

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