International Swiss watchmaking conglomerate Swatch Group has confirmed that prices for at least six of its brands will increase by 5% in the UK. The price adjustment is due to take place starting March 1st, 2017, and follows the pound’s recent 15% loss in value against the Swiss franc.
As continued falling exports and steeply declining net income hinder the days of the Swiss watch industry, analysts at Canalys say the Apple Watch sales accounted for about 80% of the smartwatch market in sales value in the first three-month period in the fiscal year of 2017. Let’s analyze what this means and what both the traditional and connected technology watch industries can glean from this information.
The Swatch Group has announced Key Figures for the year ended December 31, 2016, ahead of more details to follow in its Annual Report in March. The announcement mostly shows falling numbers for 2016 but “anticipates healthy growth in 2017…”
The management shakeup at Richemont continues with today’s announcement of CEOs leaving their respective brands.
Formex watches are now sold online exclusively at the company’s own website. This has allowed them to cut consumer prices by almost 50 percent, without having to compromise on product quality and technical features.
Zenith has enjoyed great successes and some scary downturns in the manufacture’s some 152-year history. The latest pivoting point comes just now as Zenith has today officially announced that Jean-Claude Biver, Head of Watchmaking at LVMH, is taking over the role of CEO of Zenith from Aldo Magada.
On January 1, 2017, a new regulation will go into place concerning what qualifies a watch as “Swiss Made.” You see, in the eyes of Swiss regulators and many consumers, previous regulations, which required at least 50% of a watch’s read more…
Richemont, owner of Cartier, IWC, Panerai and more, announces departure of top management & board members in major corporate shakeup.
While the allure of a timepiece produced with a precious metal case is very real, most consumers agree that using gold or platinum as a material in a wrist watch is just a means of jacking up prices and creating a loss in value. Let’s talk about why, and some important findings from the Federation of the Swiss Watch Industry that should help you understand current market trends and consumer behavior.
TAG Heuer is making a play for space exploration history as the official timekeeper of China’s Mars Exploration Program. The announcement came this week in Beijing as TAG Heuer CEO and branding wizard extraordinaire Jean-Claude Biver celebrated with scientists and officials of the China National Space Administration the unveiling of the exterior design of China’s first Mars rover. TAG Heuer is a sponsor of the program, and the planned 2020 Chinese mission to Mars will include a TAG Heuer timepiece on board.