According to Deloittes, China is currently the world’s fifth largest luxury market, and its importance to the luxury watch market is something of which the industry is acutely aware and sensitive to, both in China and in terms of travel… Read More ›
Industry news
NEWS : Hong Kong luxury sector’s downturn
In signs that the luxury downturn in China has well and truly hit Hong Kong, LVMH and Kering have announced actual and probable closures in the city. For LVMH, the combination of high rents and lower customer numbers have lead… Read More ›
NEWS : Maurice Lacroix put up for sale by DKSH Holding
Swiss brand Maurice Lacroix has been put on the market by owner DKSH Holding AG, with a buyer hoped to be found by the end of 2015. The reasons for the sale appear to be : a fall in sales,… Read More ›
NEWS : Swiss Watch Exports in 2014
The Federation of the Swiss Watch Industry (FH) has reported that watch exports in 2014 continued to grow, with a total value of 22.2 bllion CHF, an increase of 1.9%, the same as 2013. The first half-year showed a 3.1%… Read More ›
NEWS : Switzerland abandons currency cap against Euro
Switzerland’s central bank the Swiss National Bank (SNB) has abandoned the cap on the Swiss Franc’s value against the Euro. Abandoning its exchange rate control and cutting interest rates to -0.75pc sent the franc soaring, Swiss stock markets… Read More ›
INDUSTRY NEWS : Reports on Global Luxury 2014
Two reports were released recently by Bain & Company and Euromonitor into the global luxury market for 2014. Bain & Company’s thirteenth annual “Luxury Goods Worldwide Market Monitor” predicts that China is currently showing a -1 percent shrinkage (down from… Read More ›
Russia will not ban Swiss cheese, chocolate or watches in respone to Switzerland’s Ukraine policy
It has been reported by the ITAR-TSS press agency that following Switzerland’s imposition of authorisation requirements on five Russian banks in response to the Ukraine crisis, Moscow has declared that it will not impose bans on cheese or watches originating… Read More ›
NEWS : Blue plaque unveiled at former home of George Daniels
A commemorative blue plaque was unveiled on 22 August 2014 at the former home and workshop of the late watchmaker Dr George Daniels CBE. Members of the British Horological Institute, the Antiquarian Horological Society and the Worshipful Company of Clockmakers… Read More ›
Swatch to use Indian diamonds
Indian news media report that the Swatch Group, in order to meet the condition of 30 per cent local sourcing for foreign companies engaged in single-brand retailing in India, has notified the Department of Industrial Policy and Promotion that it… Read More ›
Tiffany & Co ordered to pay Swatch Group over failed venture
The Tiffany & Co jewellery chain has been ordered to pay the Swatch Group $448m (£274m) over a failed joint venture. In 2007 a deal was struck between the two parties to make watches together under the Tiffany Watch Co… Read More ›
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