Industry News Archives - Page 28 of 43

Industry News – The Exodus Continues as Maurice Lacroix Leaves Baselworld 2019

After having participated 30 years in the Watch and Jewelry trade-show, Maurice Lacroix just announced pulling out of Baselworld 2019. This is another blow for Baselworld that faces great challenges with the withdrawal of numerous exhibitors over the past years. Late July, Nick Hayek caught the industry by surprise announcing that Swiss watch giant Swatch Group would not attend in 2019. More recently it was the turn of Raymond Weil and Corum to take similar decisions.

Industry News – LVMH reports 10% revenue growth over the first 9 months of 2018

Over the first 9 months of 2018 LVMH, the one of world’s largest luxury goods group, recorded a 10% increase in revenues, which are now at EUR 33.1 billion, and the watches and jewelry division recorded an 8% growth. The organic growth is of +11% providing new positive signs for the luxury industry.

Industry News – LVMH reports 10% revenue growth over the first 9-month of 2018

Industry News – Audemars Piguet and Richard Mille Will Leave the SIHH as of 2020

While it became quite common to hear brands leaving Baselworld and complaining about the show (Swatch Group a few weeks ago, Raymond Weil this morning), the Geneva-based, Richemont-controlled Salon International de la Haute Horlogerie – or SIHH – was still in safer waters… As of today, as it’s time for the SIHH to also face non-neglectable departures. […]

Industry News – Raymond Weil Also Announced Leaving Baselworld in 2019

The haemorrhage continues for Baselworld, as another mainstream brand has just announced its departure in 2019. According to the Swiss newspaper Le Temps (here, in French), Raymond Weil, which was exhibiting in Hall 1.0 (where all the big brands are located), won’t be present at Baselworld 2019. After Swatch Group took the lead earlier this year […]

Industry News – Appointments at LVMH: New Head of Watchmaking Division and Frédéric Arnault Head of Strategy at TAG Heuer

In an article published yesterday by French business magazine Challenges (see the article here, in French), it seems that the Watchmaking Division of LVMH (TAG Heuer, Hublot, Zenith) is about to be reshuffled. The article mentions (without sources or quotes) two important appointments: Frédéric Arnault, the 23 years old son of Bernard Arnault (CEO of LVMH), gets a new position at TAG Heuer and Stéphane Bianchi is appointed at the head of the Watchmaking Division.

Interview – Marco Tedeschi of RJ Watches About The Brand’s New Strategy

RJ Watches – previously RJ Romain Jérôme – has never been classical, conventional or traditional. Whether the watches or the communication strategy, things have always been “out of the box”. For over a year, the brand has a new CEO as well as a new name and, as expected, new watches. Today, we talk with Marco […]

Industry News – Chanel Takes a 20% Minority Stake in F.P. Journe

Chanel, a high-fashion house known for its women’s haute-couture and ready-to-wear clothes, luxury goods, and fashion accessories, has been investing in the watchmaking industry – and for quite some years already. This surprising move, initiated in 1998 with Bell & Ross and in 2011 with Romain Gauthier, now goes one step further with the addition of F.P. Journe in the portfolio of brands supported by Chanel.

Industry News – Audemars Piguet To Exceed CHF 1 Billion Revenue in 2018 and to Fully Integrate its Retail Network

In an interview to Reuters, CEO Francois-Henry Bennahmias declared that Audemars Piguet will deliver double-digit growth in 2018 and that the brand’s turnover will exceed one billion Swiss francs this year. To further boost sales, Audemars Piguet plans to cut-out third-party multi-brand retailers “to arrive at a totally integrated retail network” within 3 to 5 years.

Industry News – Richemont Appoints Jérôme Lambert as Group CEO and Reports a 25% Increase in Sales at 31/08/2018

Things are again moving at the Richemont Group, but this time in the right direction. After a few years of hesitation, with massive shake-ups at the head of most brands of the group and the resignation of Kern, and negative results (especially for the 2015-2017 period), the luxury powerhouse seems to be back on track. Today, two important announcements have been made by Richemont. First, a new CEO has been appointed. Second, at their annual general meeting, the Group reports a massive increase in sales (to be nuanced, though).

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Category: Industry News