Diamond watch and jewellery brand also eyeing Russia and India.
Backes & Strauss will enter Singapore and Hong Kong this year as the world’s oldest diamond company extends its international reach.
The watch and jewellery brand will enter the Asian markets through high-end retail partners rather than opening its own boutiques. Backes & Strauss managing director Vartkess Knadjian said that the brand will most likely target luxury boutiques rather than department stores.
Knadjian added that Backes & Strauss is also looking to enter Russia. He expects to enter the Russian market in a similar way to Hong Kong and Singapore in either 2010 or 2011.
The brand also has plans to build its presence in India where the brand currently has one stockist. “India will be a very important market for us,” said Knadjian. “200 years ago India was the top destination for luxury.”