Perfume Maker Givaudan’s Sales Beat Estimates, Tariff Paybacks Weigh on Shares
Givaudan’s second-quarter organic sales came in ahead of market estimates on Thursday, but its shares fell 5 percent on litigation costs and tariff repayments.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
The News in Brief
Trump to Impose Forced Labour Duties on Friday as Temporary 10% US Tariffs Expire
The move is the White House’s latest effort to restore Trump’s campaign vision of a near-global tariff after the US Supreme Court in February struck down his ‘reciprocal’ duties.
LVMH Appoints General Manager of Fragrance
Givenchy executive Yann Musquin will lead the group’s fragrance portfolio, succeeding longtime division head Romain Spitzer.
India Changes Rule in Win for Foreign E-Commerce Companies
In a major win for Amazon, which lobbied for the change, the government will allow foreign e-commerce companies to buy products directly from Indian sellers and sell them to overseas customers.
Skincare Brand Prequel Appoints C-Suite
The dermatologist-developed label has named Nathalie Kristo as its first chief executive officer and Toral Patel as chief marketing officer.
Moncler Group Second-Quarter Sales Rise 5% as Stone Island Brand Outperforms
Stone Island’s strong performance helped offset slower growth at the Moncler brand, as the group continues its push to become less dependent on its iconic winter outerwear.
Mulberry Quarterly Sales Jump 23% as Turnaround Gathers Pace
The British luxury handbag maker reported a strong start to fiscal 2027 as CEO Andrea Baldo’s strategy gains traction and the brand gears up for designer Christopher Kane’s runway debut in September.
Phillip Lim Announces New Brand PlayLoveWin
The designer departed his namesake label 3.1 Phillip Lim in November 2024 to pursue personal projects.