While the growth for the luxury industry as a whole is expected to slow following months/years of sustained development, with macroeconomic and geopolitical headwinds and demand uncertainties in the US, Europe and China, the Swiss watch industry ended up 2023 as yet another record year, with exports up 7.6% compared to 2022, reaching their highest […]
Hermès, a French powerhouse of everything luxury that is still mostly owned by the direct descendants of the founder (the Hermès dynasty and the Dumas family), is in a class of its own. The same goes when it comes to the Group’s watch division, Hermès Horloger. A discreet giant of the watch industry, Hermès has […]
Partnering with auctioneer Sotheby’s, Omega has recently offered for sale 11 unprecedented MoonSwatch Moonshine Gold suitcases. Surfing on these vibe of the Moonshine gold watches wasn’t the idea, however. There was a good cause behind these sales, as all of the auction proceeds are to be given to Omega’s long-term partner, Orbis International. And with […]
The watch industry and its market are in constant evolution. Some new brands appear almost daily. The distribution has to face intense volatility due to the duplication of selling channels, the increased pressure of business combinations and the recent rise of certified pre-owned (CPO), which concerns Rolex but also many more brands. A handful of […]
Piaget’s CEO, Benjamin Comar, sits at the helm of the company at a momentous point in its history, its 150th anniversary. Georges Edouard Piaget set up his workshop in 1874 in the small village of La Côte-aux-Fées in the Swiss Jura mountains. There, Piaget made a name for himself first focusing on manufacturing parts and […]
Introduced last year as a project, the Louis Vuitton Watch Prize for Independent Creatives has to be seen as one of the most interesting recent initiatives in the field of independent and high-end watchmaking. Even though backed up by the world’s largest luxury conglomerates, the LV Watch Prize aims to become a biennial prize that […]
The connection between watches and motorsport has been around for decades, specifically in Formula 1 where almost every team has signed a partnership with a prestigious watch brand. IWC and Mercedes AMG, Ferrari and Richard Mille, Aston Martin and Girard-Perregaux… And all of them bringing to the table dedicated timepieces. As the 2024 Formula 1 […]
The Federation of the Swiss Watch Industry has just released their export statistic for 2023 – December ended the year on a positive note with exports up 5.5%. For the year as a whole, the industry exports recorded an increase of 7.6% compared to 2022, reaching their highest level ever at CHF 26.7 billion for […]
Earlier this month, LVMH, the French luxury powerhouse, reorganized the management of its watch division. Frédéric Arnault was named CEO of LVMH Watches – overseeing TAG Heuer, Hublot and Zenith – Julien Tornare subsequently took over as CEO of TAG Heuer while a former Richemont executive, Benoit de Clerck, was recruited to run Zenith. Just […]
As was expected, LVMH, the world’s largest luxury goods company, has announced record revenues for 2023. At EUR 86.2 billion, revenues are up 9% while the organic growth was +13%. The progression of revenues was higher in the fourth quarter than in the third quarter with organic growth of 10% versus 9%, despite some uncertainties […]