Cartier to increase prices by 5% in the euro zone

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Richemont's flagship brand Cartier will increase prices for watches and jewellery by 5 percent in the euro zone following the recent surge in the Swiss franc triggered by the Swiss National Bank's decision to scrap its cap on the franc.

Read MoreSwiss look to London after franc fracas

"We are going to raise prices by 5 percent in the euro zone. This applies to both jewellery and watches, but we are keeping prices in Switzerland stable," Chief Executive Stanislas de Quercize told Reuters in an interview at a watch fair in Geneva on Tuesday.

Richemont's watch and jewellery brands will hike prices by 5-7 percent, a source told Reuters at the fair.

Read More Forget Switzerland: These banks will be hit by SNB shock

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