Puig Targets €8 Billion in Annual Sales by 2032
Ahead of its first Capital Markets Day in Madrid, the Spanish beauty group has unveiled its “Vision 2032” and detailed its plans to grow its share of the global fragrance market.
Watches
Latest News & Analysis
Technology
Samsung Ordered to Pay Swatch $11.6 Million Over Copied Smartwatch Apps
The Swiss watchmaker initially sought about $170 million from the Korean technology giant for failing to prevent apps that mimicked its luxury brands on its smartwatch displays.
Sports
Sportswear Is Suffering a World Cup Hangover
The World Cup halo that sportswear was hoping would last well after the tournament doesn’t seem to be present, according to the latest data from Bank of America.
Luxury
Swatch Seeks Damages From Samsung Over Trademark Infringement, FT Reports
Swiss watchmaker Swatch is seeking $170 million in damages in a lawsuit against Samsung in which it claims the South Korean electronics giant allowed digital clones of Swatch watches on Samsung smartwatches, the Financial Times reported on Friday citing court documents.
Luxury
Swiss Watch Exports Feel Impact of Middle East Conflict
Exports barely increased in May after two months of declines, suggesting the industry is feeling the effects of fallout from the conflict in the Middle East.
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Luxury
Audemars Piguet’s Plan to Extend Its Winning Streak
The Swiss watchmaker’s revenue grew by 10 percent last year, far outpacing the sector. Robin Swithinbank speaks to CEO Ilaria Resta about how she plans to keep up the momentum.
Sports
Watch Brands Are Piling Into Pricey Sports Deals. Are They Worth It?
Watchmakers ranging from Omega, Breitling, Rolex and TAG Heuer to indie label Norqain are investing millions in blockbuster sports deals but success is not guaranteed.
Retail
Swatch Workers in Turkey Launch Strike Over Pay, Work Conditions
Workers across Turkish shopping malls are on strike seeking better pay and improved conditions. The company said their demands were ‘unrealistic.’
Retail
Fossil India Is Said to Weigh IPO That Could Raise $400 Million
The US-based watchmaker is reportedly considering an initial public offering for its Indian arm amidst a booming market for new listings in India.
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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.
Sustainability
Nike’s Sustainability Reset
The sportswear giant has toned down communications around its sustainability efforts, replacing its glossy annual impact report with hard-to-find data sheets. Meanwhile, Rolex is cosying up to Trump and the EU’s push to clean up fashion waste is getting real.
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.
Sports
Donald Trump Attends the US Open With Rolex
The watchmaker hosted the US president for the men’s championship weeks after the White House implemented a 39 percent tariff on Swiss goods.
The News in Brief
Report: Puig, CVC, Cinven Eye Luxury Fragrance Maker Parfums de Marly
Private equity firms CVC Capital Partners and Cinven, along with Spanish beauty group Puig, are considering acquiring Parfums de Marly, the luxury fragrance brand owned by Advent International, two people familiar with the matter told Reuters.
Beauty and Home Care Drive Unilever Sales, Food Unit Falters
The UK conglomerate raised its annual volume growth forecast on beauty, personal and home care demand, despite a lagging food sector and the impact of geopolitical conflict on costs.
Carlos Nazario Appointed Editor in Chief of Wonderland
The fashion editor and stylist is reuniting with longtime collaborator Alastair McKimm, chief creative officer of Wonderland parent Visual Talent Ltd.
Aritzia Seeks to More Than Double Sales by 2032
New categories and brick-and-mortar expansion beyond North America are set to drive Aritzia’s quest to hit $10.5 billion CAD ($7.5 billion).
Pop Mart Quarterly Sales Fall Up to 50% as Labubu Fad Cools
Sales in the Americas fell 70 to 75 percent.
Zegna to Take Summer Fashion Show to Beijing
The Italian label has continued to enjoy solid growth in China, defying a wider downturn in demand for European luxury. The June 11 presentation of its summer collection will be the latest in a series of travelling shows.
Beiersdorf Sales Slightly Miss Expectations on Nivea Weakness
The German consumer goods maker marginally missed market expectations for third-quarter sales growth on Tuesday, with its key Nivea brand posting a third straight quarterly sales decline.