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The Business of Fashion

Zurich, Switzerland

Luxury

Swatch Urges Shareholders to Vote Against Activist Investor’s Bid for Board Seat

The luxury watch owner has urged shareholders to reject activist investor Steven Wood’s renewed board bid, as it moves to defend its governance and luxury brand strategy.

Luxury

Richemont Rides Out Tariffs, Gold Prices with Sales Beat

The Swiss group reported sales up 14 percent in its latest quarter, smashing expectations amid “unprecedented” headwinds including currency movements, rising gold prices and US tariffs.

Luxury

Swiss Watchmakers Rise on Optimism Over Possible Cut in Trump Tariffs

Shares in Richemont and Swatch Group rose after US president Donald Trump said he was working with Switzerland on a deal to lower the 39 percent tariff rate on Swiss imports.

Retail

Swatch to Hike Prices in US Due to Tariffs, CEO Says

The Swiss watch company plans to increase prices in the US between 5 percent and 15 percent, depending on the brand, because of the new US tariff.

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Retail

Swatch Sells Watch Lampooning Trump’s 39% Tariffs on Switzerland

The Swiss watchmaker has launched the ‘what if…tariffs?’ watch with reversed numbers three and nine, mocking the 39 percent tariffs imposed by the US on Swiss imports.

Luxury

Swiss Watch Giant Navigates Trump’s Tariff Uncertainty

Swatch Group CEO Nick Hayek has front-loaded shipments to the US, is targeting American shoppers as they travel abroad and has raised its prices as it grapples with a new 39 percent US tariff on Swiss-made products.

Luxury

Richemont's Farfetch Deal to Further Boost Strong China Sales

The Cartier owner posted an 82 percent drop in net profit for its first half to September 30 despite a 78 percent jump in Chinese sales.

Luxury

Richemont Chairman Warns Company Must Be Cautious With Cash

Johann Rupert said the pandemic hit the watch and jewellery maker's cash flow, making it necessary to halve its dividend to 1 Swiss franc per share.

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Luxury

Richemont to Ask Shareholders for Conditional Share Capital Increase

The Cartier-owner seeks to preserve cash during the pandemic having already halved its dividend.

Retail

Swatch Group Posts Its First Half Year Loss

The Swiss watchmaker reported a net loss of $327 million in the first half of 2020 and saw sales drop 46.1 percent.

Retail

Can Roger Federer Help Build the Next Big Sportswear Brand?

The tennis legend and cult running shoe label On are launching a sneaker together. In the latest edition of the BoF Podcast, Federer shares what's next.

Workplace & Talent

Richemont Human Resources Director Leaves Executive Committee

Sophie Guieysse will be stepping down from the committee but will reportedly stay on in her HR role, despite mounting employee anger over executive compensation.