Ulysse Nardin, Audemars Piguet Raise Eurozone Prices as Sales Rebound
Reuters correspondent Silke Koltrowitz interviewed Ulysee Nardin President and CEO Rolf Schnyder and Audemars Piguet CEO Philippe Merk at the Global Luxury Summit in Paris earlier this month. Both men said their sales are increasing, and each has raised Eurozone prices as the Swiss franc strengthens against the euro. The franc has risen about 4.6 percent against the euro this year. Schnyder told the Luxury Summit “We changed all our prices in the euro zone a week ago. We took an exchange rate of 1.40.” Merk said “Of course there’s the pressure to adjust pricing upwards in Europe. This trend is going to persist. We had to make a little adjustment in March. We increased prices by 4 percent.”Commenting on global sales, Schnyder said U.S. sales turned positive at the end of 2009 and that the market is recovering strongly with sales up 35% in May against admittedly weak year-earlier figures. Schnyder said that China and Russia are also doing well. Schnyder expe

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