Luxury jeweler Cartier expects to open as many as 10 new stores in China in the next year, up from a current 14 stores.%%According to reports, Cartier, Greater China, Managing Director Nigel Luk opines that the luxury firm hopes to tap into the wealthiest in China, reputed to own $138 billion in assets, in order to boost Cartier sales by "high double-digits every year.%%Parent company Richemont's China and Hong Kong sales increased 25 percent to $356 million in the first half of the fiscal year 2006, and accounted for 12 percent of overall sales.
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