Tonight, as every year, is the celebration of watchmaking, watchmakers and watches in general… It is the Grand Prix d’Horlogerie de Genève (or GPHG 2020) – the Oscars of the watchmaking industry. Several categories are represented (ladies, men, complicated and even affordable watches) and the best watches of the year will be awarded the coveted […]
2020 will be remembered as a traumatic year and a turning point. The COVID-19 pandemic has been a world changer. As far as luxury watches are concerned, the outbreak of coronavirus has shaken fundamental aspects of the industry. Undeniably, it has been and still is an annus horribilis, with Swiss Watch exports plunging by 28.3% […]
Switzerland-based luxury conglomerate Richemont Group has just issued its trading update for the six months ended 30 September 2020. As expected in these uncertain times, sales are down. COVID-19 impacted activities but the situation has improved over the past months helped by Chinese demand. For the half-year, sales decreased by 26% at actual exchange rates […]
With the development of e-commerce and as the trend for vintage watches consolidates, the market for second-hand luxury watches is growing fast. A survey by the Boston Consulting Group published in September 2020 reveals that “the market for secondhand hard luxury items – primarily watches and jewellery – is worth about €21 billion worldwide and […]
Oris unveils its new Calibre 400, a powerful automatic movement with a five-day power reserve and an impressive 10-year warranty. The mandates were for a high-performance and anti-magnetic movement to keep pace with consumers’ lifestyles for longer periods of time. Heralded as the “new standard” in automatic movements by Rolf Studer, Oris’s Co-CEO, the movement […]
Horage is an original company within the Swiss watch industry. Based in Biel, the small brand ended up developing their own k1 automatic caliber, designed with the objective to be an efficient and reliable movement built on industrial production standards, but also deliver the flexibility in complications and decoration of a “manufacture” movement. At their […]
Every year, the watchmaking industry celebrates creativity and ingenuity with the Grand Prix d’Horlogerie de Genève (GPHG) or the so-called “Oscars of the Watchmaking Industry” – see the report for the 2019 edition here. The most advanced, the most innovative and the most creative timepieces will be awarded prizes at the GPHG 2020. Before the ceremony takes […]
Following Swatch Group, Richemont and recently LVMH, it is now time for Kering, a French group specialized in luxury (fashion, jewelery and watchmaking) and one of the leaders on the market, to announce its half-year results for the year 2020. As expected, the COVID-19 crisis shows its effects on sales and profitability, yet the group also […]
Following the results of Swatch Group for the 1st Semester 2020 and Richemont for the 1st Quarter 2020, respectively showing sales down by 43.4% and by 47%, it is now time for LVMH, the world’s leading group in luxury goods and a solid indicator of the state of the industry, to report its sales for […]
While the centre of attraction for Watches & Wonders – previously known as SIHH or Salon International de la Haute Horlogerie – has always been Geneva, Switzerland, the show has been held in other locations such as Hong Kong or in Miami. For 2020, this relocated extension of W&W will take place in Shanghai, China […]