Vacheron Constantin to increase production and double workforce

Vacheron Constantin, a watchmaking unit of Richemont Group, plans to double its workforce to 1,300 by 2020 as it spends 100 million Swiss francs ($109 million) on buildings and production, Le Temps reported, citing Juan-Carlos Torres, head of the brand.

Vacheron Constantin aims for all its watches to qualify for the stamp of the seal of Geneva, a sign of craftsmanship, by 2016 compared with 70 percent currently, Torres said, according to the newspaper. The brand plans to produce as many as 30,000 mechanical watches annually compared with 17,000 to 18,000 this year, the newspaper said. The economic slowdown hasn’t weighed on sales.

In September, Vacheron Constatin opened its 28th international boutique in New York. The location of the brand’s newest boutique in New York is a distinct historic location : a historical building from 1908 on the southeast corner of Madison Avenue and 64th Street.