It’s no secret that the current situation with COVID-19 has had dramatic effects on the consumption of luxury goods, including watches. Manufactures are closed (Rolex, Patek, AP, TAG Heuer and many more have ceased operations for a couple of weeks), and even though shops might be opened in certain regions, the mood isn’t ripe for […]
The FHS, the Swiss Watch Federation, just released its export statistics for the month of February 2020, and, as you might expect, these are down. The value of exports contracted by 9.2% to CHF 1.6 billion. But, this does not even reflect the severe and jittery situation on the market provoked by the Coronavirus Pandemic. […]
Luxury watchmakers have to face turbulent times. The two major trade shows, Watches & Wonders (ex-SIHH) and Baselworld have just announced the cancellation of their 2020 editions amid fears of a possible COVID-19 Coronavirus Pandemic. With these lost opportunities to meet retailers and the press, watch brands need to handle business that would have got […]
Following the decision of the Fédération de la Haute Horlogerie (FHH) and the Richemont Group to cancel the 2020 Edition of the Geneva-based watch fair Watches & Wonders, all eyes were on Baselworld and the watch world was waiting for the final decision to come… This is it, the other major watch fair of the […]
Watches & Wonders 2020, the new version of the Geneva-based watch fair held by the FHH, previously named SIHH, is the latest in the growing list of events cancelled, postponed or relocated across the globe amid fears of a possible COVID-19 Coronavirus pandemic. The Geneva watch fair is one of the largest watch events around […]
Following the announcements by the Swiss Watch Federation with slightly growing export numbers and record results by LVMH for the year ended December 31st, Swatch Group has just announced its 2019 results, which aren’t as positive as its competitors and the whole market. At CHF 8,243 million, the group net sales are down 1.8% at constant […]
Year after year, the publication of the annual results of LVMH is no more a surprise… Growth has become the norm for the world’s largest luxury group, which operates in multiple businesses such as fashion, wine, perfumes, selective retailing and, of course, watches and jewellery – the group is the owner of Bvlgari, Hublot, TAG […]
The FHS (Federation Horlogère Suisse or the Swiss Watch Federation) just released the export statistics for 2019. Swiss watch exports showed growth in December (+5.8% at CHF 1.7 billion). For the whole year 2019, exports rose by 2.4% in value at CHF 21.681 billion, however, the units shipped dropped by 13.1% at 20.634 million and […]
If you follow watch industry news on a regular basis, you will have seen that last week the watchmaking division of the LVMH Group – TAG Heuer, Zenith and Hublot – as well as Bvlgari, were hosting their very own watch fair in Dubai, the LVMH Watch Week. We’ve presented most of the novelties to […]
Switzerland-based luxury conglomerate Richemont has issued its trading update for the quarter ended 31 December 2019. Richemont announced that at EUR 4,156 million, sales in the quarter rose 6% at actual exchange rates and 4% at constant exchange rates. The business statement was particularly awaited, considering the situation in Hong Kong, a major business hub […]