Further to a post from a few days ago, the Swatch Group has reported its lowest first-half profit in seven years as demand cratered in Hong Kong, France and Switzerland. The operating profit for the first half of the… Read More ›
Industry news
NEWS : Swatch Group’s profit for first half of 2016 down by 60 percent
In an early warning ahead of the Swatch Group’s announcement of its half yearly results, President Nick Hayek has announced that the Group’s profits dropped by 60 percent for the first six months of 2016. The drop is mostly due… Read More ›
NEWS : Swatch/ ETA seeking increase in mechanical movement deliveries
The downturn in the Swiss watch industry has lead to a rather interesting situation. Swatch Group SA have announced that the Swiss Competition Commission Weko are reviewing at whether there’s room to manouver within the 2013 agreement made between the… Read More ›
NEWS : FTC vs Shinola
During his recent visit to the U.K. President Barack Obama gave British Prime Minister David Cameron an American gift : a Shinola watch with the presidential seal engraved on the back. When the Shinola brand of watches was launched in… Read More ›
NEWS : Citizen Watch Co. Ltd acquires Frederique Constant Holdings SA
Citizen Watch Co. Ltd has just announced that they have entered into an agreement for the acquisition of the Frederique Constant Holding SA as part of Citizen’s plan to strengthen its brand portfolio of “accessible luxury watches”. Frederique Constant Holdings… Read More ›
NEWS : Seven new brands to join SIHH 2017
Last year saw the announcement of the departure of Ralph Lauren from SIHH and the arrival of nine independent brands in what was called the ‘Carré des Horlogers’. It has just been reported in Le Temps that SIHH will once again… Read More ›
Theft of HK$2 million in cash and watches on board flight
For those of you who are frequent flyers you may be aware of the increasing incidence of in-flight theft of money and valuables from passengers by fellow passengers. In Hong Kong, from where today’s news comes, there were 48 cases… Read More ›
NEWS : Tudor CEO to move to Rolex
Another day another move, with news that Tudor’s CEO Mr. Philippe Peverelli, who has lead the Rolex younger sibling since 2009, will be moving to the big R to run the Rolex Group’s merchandising division Roledeco, which handles boutique design… Read More ›
NEWS : New incoming CEO for Omega
Swatch Group AG has announced the impending retirement of Mr Stephen Urquhart from the position of president of Omega and the appointment of his deputy Raynald Aeschlimann to succeed him as of June 1, 2016. Mr Aeschilmann has been Vice… Read More ›
NEWS : HYT and Preciflex SA raise 23 million CHF
Maker of liquid time-telling wristwatches and SIHH 2016 newcomers HYT have announced a successful fundraising effort for their upcoming new collections, with investors including Nestle CEO Peter Brabec-Letmanthe and a Swiss private asset management company joining the investor fold. Beat… Read More ›
