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.
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).
Had you been walking past Hampton Court this weekend, no doubt you would you have heard the roar from the dozens of fine vintage specimens manoeuvring around the palace for the Concours of Elegance. This year was the first time A. Lange & Söhne had supported the event – though, you would be forgiven for confusing this Concourse of Elegance classic car event with the Concorso d’Eleganza Villa d’Este at Lake Como. Both events are supported by Lange, but this show held at Hampton Court Palace is, in fact, no relation to the one on Lake Como. Still, we were there, we enjoyed the scenery (cars and watches are always a winning combo – especially Lange x Classic Cars) and we talked with CEO Wilhelm Schmid.
As every year, the watchmaking industry is celebrating 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 2017 edition here. The most advanced, the most innovative or the most creative timepieces will be awarded prizes at the GPHG 2018. Before the […]
As IWC celebrates its 150th anniversary, the brand has inaugurated its all-new production facility, a milestone in its longstanding industrial tradition. Optimal working conditions, cutting-edge technologies and aerial design in order to optimize production and, in the end, the quality of IWC watches.
Following Antonio Calce’s departure a few weeks ago, French luxury group Kering just announced the appointment of Patrick Pruniaux as CEO of its Swiss watchmaking Maisons. Therefore, the current CEO of Ulysse Nardin will now also manage Girard-Perregaux, one of the most prestigious names of the Swiss Haute Horlogerie and guide the brand to meet current challenges.
In January this year, Europe’s largest watch retailer announced the acquisition of US-based group Tourneau from Green Equity Investors IV LP, an investor group that owned Tourneau for decades. While this represented a first (and major) step in the American strategy of the Swiss retailer, the group didn’t stop there and yesterday, Tourneau’s parent company Bucherer USA announced it has purchased Baron & Leeds, another US retailer.
Less than a week after the Swatch Group announcement of its decision not to participate in the Baselworld 2019, MHC Group (the company operating Baselworld) just issued a press release announcing that the ‘Board of Directors of MCH Group and CEO René Kamm have reached the joint and mutual conclusion that the time has come for a change in the operational leadership of MCH Group in view of the fundamental transformation phase in business operations’.
Less than a week after the Swatch Group announcement of its decision not to participate in the Baselworld 2019, MHC Group (the company operating Baselworld) just issued a press release announcing that the ‘Board of Directors of MCH Group and CEO René Kamm have reached the joint and mutual conclusion that the time has come for a change in the operational leadership of MCH Group in view of the fundamental transformation phase in business operations’.
once, we’re not going to use the “breaking news” title for nothing. What came in this morning is important news, no debate. As reported by Swiss newspapers NZZ am Sonntag and Le Temps, Swatch Group, the world’s largest watchmaking group, will be leaving Baselworld – Switzerland’s largest watch and jewellery fair – as of next year. After already several departures and complains, this is another hard blow for the highly decried show.