Luxury watch brand Roger Dubuis says it will open more stores in Macau and Hong Kong despite the recent contraction of the market.

Roger Dubuis Hong Kong has four stores and there are a further three in Macau. The Swiss brand debuted here in 2000 and is aiming to be one of the world’s top five luxury watch retailers by 2020.

Despite price tags ranging from HK$150,000 to HK$10 million, Roger Dubuis is unconcerned by the broader trend and is eyeing the longer term growth opportunity in the SARs and the mainland as the number of Chinese with high disposable income grows.

Two new stores will open in Macau next year and potentially another in Hong Kong.

CEO Jean-Marc Pontroué told the Hong Kong Economic Journal a new store will open in Nanjing in the mainland next year as well. That follows the opening of its first mainland store in Beijing last July.