During the digital version of LVMH Watch Week, Bvlgari, Hublot and Zenith presented some of their novelties for 2021. It was also an opportunity for MONOCHROME to interview Julien Tornare, the CEO of Zenith, to find out how the brand has navigated 2020 and to take a look at the brand’s strategy for 2021. Xavier […]
The COVID-19 pandemic has dramatically changed the face of the world and how business is done. The watch industry is no stranger to the situation and, in 2020, sales have been greatly affected. Another consequence has been the cancellation of most physical watch events, including Watches and Wonders 2020 – which was transformed into a […]
The FHS, the Federation Horlogère Suisse (or the Swiss Watch Federation), has just released export statistics for 2020 marking a year of profound global change. Although the full impact of the coronavirus outbreak cannot be calculated accurately, the pandemic has had a strong impact on the watch industry. Exports dropped by 21.8% in value to […]
The watch industry has taken a big hit during the pandemic. Swatch Group has just released its 2020 results and, as expected, these have been severely impacted. At CHF 5,595 million, net sales are down 28.7% at constant exchange rate and 32.1% at current rates. The operating results remain slightly positive at CHF 52 million […]
Following mixed mid-year announcements, grearly impacted by a series of lockdowns in Europe and Asia, we certainly not expected the world’s leader in luxury to present positive results for the full year 2020. Especially since the soft and hard luxury industries have been greatly impacted by the COVID-19 pandemic. LVMH just released its 2020 Full […]
Only Watch is a unique initiative created by Luc Pettavino. This charity timepiece auction held every two years brings together the biggest names of the industry to benefit research on muscular dystrophy. The ninth edition of this charity auction, Only Watch 2021, will take place on Saturday, 6 November 2021. Unique timepieces created by over […]
Richemont Group, the luxury powerhouse behind Cartier, IWC, Jaeger-LeCoultre, and more, like most conglomerates operating in the luxury industry, has been dramatically impacted by the current sanitary situation and the COVID-19 pandemic with sales down 16% over the first 9 months of its current financial year (April-December 2020). Still, the group has released this morning […]
2020 will be remembered as a traumatic year… but also a turning point. The COVID-19 pandemic has disrupted virtually all aspects of human life. As far as the watch industry is concerned, it has been severely hit by the sanitary crisis. Swiss watch exports have seen a decline of 23.5% over the 11 first months […]
The FHS, the Swiss Watch Federation, just released its export statistics for November 2020. These were down 3.2% for the month, confirming the trend of a gradual slowdown of the decline over the past few weeks. This trend is mainly due to China with shipments up 69.5% but other markets are showing signs of improvement. […]
The FHS, the Swiss Watch Federation, just released its export statistics for November 2020. These were down 3.2% for the month, confirming the trend of a gradual slowdown of the decline over the past few weeks. This trend is mainly due to China with shipments up 69.5% but other markets are showing signs of improvement. […]