It is no breaking news to say that the industry had to face difficult times in 2015 and 2016. Business had been tough due to decreasing sales. The Richemont Group – the luxury powerhouse that owns Cartier, IWC, Montblanc or JLC – had also been affected by this situation – as reported by MONOCHROME here. Part of Richemont’s plan to help cleaning the situation was a massive buyback strategy, thus reducing stocks at retailers. What was unknown was the total amount of watches bought back by the group… Well, according to The Guardian, we’re talking about approximately half a billion Euro/Dollar.
