For example, Rolex has increased its market share, whereas Omega was rather flat and Cartier has lost share compared to Omega. This may partly be explained by its limited exposure to the Chinese market which has considerably slowed down. Today, Cartier has a problem with excess stock, dependency on Hong Kong and high prices, even more so than the two other brands. For the retailer Hengdeli (no. 1 in China, no. 2 in HK) 70% of its sales in mainland China are of Swatch Group brands, whereas in HK 60% with Richemont brands. They decided to reduce their stock level, but at the same time sales have decreased and the unbalanced situation persists... Hong Kong has enough stock for 300 days! They are also shutting down outlets due to exorbitant rental prices and the drop in demand, but in some cases their rental contracts do not allow them to close down an outlet quickly".