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 […]
Following the announcement in July 2023 of its half-year results showing an impressive growth of 18% in sales, Swatch Group has just issued its key figures for the entire year 2023. The Biel-based conglomerate, owner of brands such as Omega, Longines, Tissot or Breguet, reports sales up by 12.6% at constant exchange rates, or 5.2% […]
Switzerland-based luxury conglomerate Richemont Group has just issued its trading update for the nine months ended 31 December 2023. The group, which includes brands such as Cartier, IWC, JLC and Vacheron, reports sales up by 8% at constant exchange rates and by 4% at actual exchange rates to EUR 5.6 billion for the last quarter […]
For some months now, we’ve heard and seen evidence that things were about to change at LVMH, a reshuffling strategy that industry insiders love to call the musical chairs of management. Things are now official as Julien Tornare, ex-CEO of Zenith, becomes CEO of TAG Heuer. He’s replaced in this role by Benoit de Clerck, […]
Without surprises, the arrival of a new year also means subsequent price changes for brands (and this isn’t limited to watch brands, but you’ll find these in multiple other industries). Last year already, we published the newly released price list of Rolex, which showed a rather impressive increase in the RRP of most models, with […]
Without surprises, the arrival of a new year also means subsequent price changes for brands (and this isn’t limited to watch brands, but you’ll find these in multiple other industries). Last year already, we published the newly released price list of Rolex, which showed a rather impressive increase in the RRP of most models, with […]
In 2001, Mr Pascal Raffy bought the Bovet watch brand, and ever since, he has been carefully building the brand with a strong focus on Haute Horlogerie and doing as much as possible “in-house”. The vertical integration at Bovet 1822, which is the brand’s full name, is pretty impressive, and the number of in-house-made parts […]