In a report on Swiss site 24 heures, it has been announced that Peter Speake-Marin has left the brand he founded sixteen years ago. This is not a sudden decision, but one over which he has been mulling for awhile…. Read More ›
Industry news
NEWS : New brands to join SIHH 2018
In 2016 the ‘Carré des Horlogers’ became a part of SIHH. This year, the ‘Carré’ was expanded, and some new brands joined SIHH 2017. In news just announced, the SIHH will expand even further, welcoming Ferdinand Berthoud, De Witt, whose… Read More ›
NEWS : More Richemont management changes
Back in November 2016 we posted about some major management changes at Richemont, with the retirements of CEO Richard Lepen, CFO Gary Saage, and eight Board members, the abolishing of the CEO position, and a new structure in which the… Read More ›
BREAKING NEWS : CEO Aldo Magada to leave Zenith
In breaking news, CEO Aldo Magada is leaving his Zenith, with Jean-Claude Biver taking over the temporary helm. The press release is below. Horologium met Mr Magada during Baselworld 2016. To read our interview, click here.
NEWS : TAG Heuer China expansion
Against the backdrop of what has been another challenging year for the watch industry, not only are TAG Heuer’s sales are up but they have had a 10 per cent increase in revenue and are looking to expand further in… Read More ›
NEWS : Global personal luxury goods market steady but Chinese shoppers’ share of global luxury purchases drops
Bain & Company’s annual global luxury study, released in collaboration with the Italian luxury goods manufacturers’ industry foundation Fondziona Altagamma, has found that the global luxury market is growing at 4% to an estimated 1.08 trillion EUR in 2016. China… Read More ›
NEWS : Richemont announces consolidated results for six months to 30 September 2016 and major management changes
On 5 November 2016 the Richemont Group announced their most recent six month results, which were significantly below the same period last year, reflecting the difficult period that the watch industry is still under. Most markets reported a downturn, and… Read More ›
NEWS UPDATE : Swatch Group 2016 first half profit lowest in seven years
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 ›
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 ›
