Swiss Watch Exports Grow for Fourth Month, Overcoming US Slump
Exports in August were buoyed by China and Japan, despite a sharp decline in shipments to the US.
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
Alexandre Arnault Joins Nike’s Board of Directors
The LVMH executive joins Nike’s board as the sportswear giant prepares to be removed from the S&P 100 index after nearly two decades.
Matthieu Blazy, Sarah Burton, Haider Ackermann Among Nominees for BFC Designer of the Year
The Fashion Awards ceremony, set for Nov. 30, will also recognise the BFC’s second Vanguard award recipient, recognising emerging British design talent.
Supergoop Announces Chief Commercial Officer
The sunscreen label has appointed former Coty executive Jamie Parker to the newly created role as it gears up to become a “global skin health company.”
Mytheresa Owner’s Sales Rise as Ultra Wealthy Keep Shopping
LuxExperience posted a rise in sales as the luxury multibrand platform’s strategy of catering to the ultra wealthy helped it navigate a difficult environment for high-end fashion.
The Independents Acquires Production Studio Smuggler
The global collective has brought film studio Smuggler under its umbrella to bolster its entertainment capabilities.
L’Oréal Steals French Stock Market Crown From LVMH
The cosmetics group became France’s most valuable listed company on Tuesday, the first time since 2017 that a non-luxury company has claimed the top spot at the end of a trading day.
Authentic Brands Targets Creator Economy, Eyes Public Offering
The licensor could pursue an IPO as early as the first half of next year.