The Swatch Group confirmed the report by Swiss news agency AWP that they had been subject to a cyberattack over the past weekend, stating that they had shut down some of their systems, affecting some (unidentified) operations, as a precautionary… Read More ›
The corporate adventures of Baselworld/ HOURUNIVERSE/ Art Basel organiser the MCH Group continue, with the latest update a consequence of the Extraordinary General Meeting (EGM) held earlier this month, during which 848 shareholders (91% of the nominal share value) voted… Read More ›
Richemont has announced the nomination of Wendy Luhabe for election to the board. She will serve as a non-executive director and become a member of the board’s nominations committee. Luhabe was chair of Vendôme South Africa, Richemont’s subsidiary, from 2001… Read More ›
After the expected dramatic falls in May 2020, the Federation of the Swiss Watch Industry (FH) reported that watch exports continued to fall sharply in June, with the value falling 35.1 per cent compared to June 2019, to CHF 1.1… Read More ›
The Swatch Group has released its half year report for 2020. The year started strongly with an operating margin of 21.4% in the Watches & Jewellery segment (without Production) and 17.3% for the overall Group despite COVID-19 lockdowns in mainland… Read More ›
The ongoing saga of Baselworld and organisers the MCH Group continue, with the surprise announcement that Lupa Systems LLC, an investment firm founded by James Murdoch in 2019, has been in talks to take a 30-44% stake in the Group…. Read More ›
There may be fewer releases this year, with many brands deciding to hold back new models until the situation is more stable, but it is by no means a totally quiet period. The Swatch Group has announced changes to its… Read More ›
The effects of COVID-19 on Swiss watch exports this year continued through May, with exports dropping 67.9% compared to the May 2019, following April’s 81.3% fall. The FH have called the last two months periods of “quasi paralysis”. Overall, exports… Read More ›
The LVMH group has announced the appointment of Frédéric Arnault as the new CEO of TAG Heuer, effective 1 July, 2020. He will take over from Stéphane Bianchi, who will become head of LVMH’s new Watch and Jewellery Division that… Read More ›
Last month we reported on the Federation of the Swiss Watch Industry FH’s report on Swiss watch exports for the month of March 2020. It showed a fall, but the expectation was that April’s results would be considerably worse, due… Read More ›
