Lifeng Group Is Far Away From Mergers And Acquisitions, Focusing On Self Growth.

Recently, Richemont, a Swiss luxury watch and jewelry group, said it favors self growth rather than takeover, even though 2 billion 590 million euros of cash can be spent.

Owned by the group

Johann Rupert said at a conference that many of the companies that had been sold were offered to us before others bought them, but we collectively tended to establish good reputation and brand image rather than acquisition.

Li Feng Group is one of the companies related to Italy luxury brand Bvlgari, which was bought by the French brand LVMH in March for 3 billion 700 million euros.

Rupert did not mention whether Bvlgari was one of the companies that contacted Li Feng, but he seemed to rule out big mergers and acquisitions.

"The question is, do we have to pay billions of euros to other people to maintain goodwill, or to expand Cartire and Van Cleef & Arpels with 10 billion? We decided to serve shareholders better."

He said.

"Our fashion store spending will continue to grow and further expand our network area," he said.

This year, Lifeng group also hopes to recruit 800 additional production personnel to meet the market demand of its high-end watches, including the Piaget and IWC.

The company will also speed up the division of labor in 21 factories with 7000 people in Switzerland.

Rupert continued: "customers are smart, and they do not want this to be Ferrari produced in Fiat plant".

His representative

In April, its sales increased by 32%. Asia Pacific, Europe and the Americas reported two digit growth.

"Our funds are better used in supporting what we understand," Rupert said. "We see rapid growth in performance in the target area, not in the companies available for sale.

The more you want to buy a company, the less you can buy it.