Report: Abercrombie to Seek Fresh Backers for China Business
The US-listed company is conducting a review of its Chinese assets and may sell a stake in the unit, which could be valued at several hundred million dollars, Bloomberg reported.
watches
Luxury
Watchmakers Can't Catch a Break as China Slump Moves to US
Swiss watchmakers have been caught off-guard as demand keeps sinking this year in the US, which is key for Rolex, LVMH’s TAG Heuer and Richemont’s Baume & Mercier.
Watchmakers Can't Catch a Break as China Slump Moves to US
Swiss watchmakers have been caught off-guard as demand keeps sinking this year in the US, which is key for Rolex, LVMH’s TAG Heuer and Richemont’s Baume & Mercier.
Luxury
Montblanc Launched a Smartwatch. Here's Why It Matters
The company hopes to attract a mix of loyalists and also millennials who aren't necessarily accustomed to wearing anything on their wrists but who might try out a unique-looking smartwatch.
Montblanc Launched a Smartwatch. Here's Why It Matters
The company hopes to attract a mix of loyalists and also millennials who aren't necessarily accustomed to wearing anything on their wrists but who might try out a unique-looking smartwatch.
Technology
Swiss Smartwatches Multiply as Makers Hunt Millennials
With the flurry of new gadgets, watchmakers are trying to attract millennial shoppers in the middle of the longest downturn on record for the Swiss industry.
Swiss Smartwatches Multiply as Makers Hunt Millennials
With the flurry of new gadgets, watchmakers are trying to attract millennial shoppers in the middle of the longest downturn on record for the Swiss industry.
Technology
Swatch to Launch Smartwatch Operating System by 2018
The world's biggest watchmaker has previously been skeptical about smartwatches and has so far launched watches with limited connected features under its Tissot and Swatch brands.
Swatch to Launch Smartwatch Operating System by 2018
The world's biggest watchmaker has previously been skeptical about smartwatches and has so far launched watches with limited connected features under its Tissot and Swatch brands.
Retail
Swatch Sees Rebound in US, Europe as Watch Sales Improve
The watchmaker forecast a rebound in US and European markets, adding to further signals that the industry’s longest slump on record may be ending.
Swatch Sees Rebound in US, Europe as Watch Sales Improve
The watchmaker forecast a rebound in US and European markets, adding to further signals that the industry’s longest slump on record may be ending.
Luxury
TAG Heuer Sees Higher Sales on New Smartwatch, China
The Swiss watch brand expects to build on last year’s double-digit sales growth in 2017, supported by an upgraded smartwatch and healthier demand in China, the biggest market for luxury timepieces.
TAG Heuer Sees Higher Sales on New Smartwatch, China
The Swiss watch brand expects to build on last year’s double-digit sales growth in 2017, supported by an upgraded smartwatch and healthier demand in China, the biggest market for luxury timepieces.
Luxury
Vacheron Constantin Makes Online Debut With $45,000 Watches
Swiss watchmakers have been increasingly embracing e-commerce to reach a younger clientele that is less interested in wearing watches.
Vacheron Constantin Makes Online Debut With $45,000 Watches
Swiss watchmakers have been increasingly embracing e-commerce to reach a younger clientele that is less interested in wearing watches.
Luxury
Report: Four Richemont Brand CEOs Including Dunhill to Depart
Richemont plans to name new chief executive officers for four of its luxury brands including Vacheron Constantin and Dunhill, according to a person familiar with the situation.
Report: Four Richemont Brand CEOs Including Dunhill to Depart
Richemont plans to name new chief executive officers for four of its luxury brands including Vacheron Constantin and Dunhill, according to a person familiar with the situation.
News & Analysis
Swiss Watchmakers Cautiously Optimistic for US, China in 2017
Luxury watchmakers have been grappling with a combination of weak demand in Hong Kong and the United States, and Chinese tourists avoiding Europe for fear of militant attacks.
Swiss Watchmakers Cautiously Optimistic for US, China in 2017
Luxury watchmakers have been grappling with a combination of weak demand in Hong Kong and the United States, and Chinese tourists avoiding Europe for fear of militant attacks.
Luxury
Richemont, Swatch Rally, Bodes Well for Watches
Richemont advanced as much as 9.4 percent to a one-year high after a gain in sales of timepieces at the Cartier maker’s own stores signalled that wholesale orders may stop declining.
Richemont, Swatch Rally, Bodes Well for Watches
Richemont advanced as much as 9.4 percent to a one-year high after a gain in sales of timepieces at the Cartier maker’s own stores signalled that wholesale orders may stop declining.
Luxury
Richemont's Revenue Up 5 Percent with Unexpected Watch Rebound
The company has been struggling with the biggest downturn for the Swiss watch industry since the quartz crisis in the 1980s.
Richemont's Revenue Up 5 Percent with Unexpected Watch Rebound
The company has been struggling with the biggest downturn for the Swiss watch industry since the quartz crisis in the 1980s.
News & Analysis
$2.6 Million Worth of Fake Luxury Watches Seized in Puerto Rico
Authorities in Puerto Rico have seized $2.6 million worth of fake luxury watches they say were illegally imported from China.
$2.6 Million Worth of Fake Luxury Watches Seized in Puerto Rico
Authorities in Puerto Rico have seized $2.6 million worth of fake luxury watches they say were illegally imported from China.
The News in Brief
Chanel Sales Up 16% in First Half
Chanel’s sales are accelerating after returning to growth last year, Bloomberg reported citing an unnamed source. Beauty sales rose 8 percent.
P&G to Buy Supplement Maker Thorne for $3.8 Billion
Shailesh Jejurikar, chief executive of the American personal care conglomerate, told CNBC it will acquire the line from LVMH-backed private equity firm L Catterton.
Eli Lilly to Offer Early Access to Next-Gen Obesity Drug to Some Patients
Eli Lilly said on Monday it would allow a limited number of patients to have early access to its experimental obesity drug, retatrutide, before its US FDA approval.
India’s Nykaa Posts Higher Quarterly Profit on Strong Beauty Demand, Fashion Growth
India’s FSN E-Commerce Ventures, which operates beauty and fashion retailer Nykaa, reported a more than three-fold rise in quarterly profit on Tuesday, boosted by strong growth in its beauty business and a sharp acceleration in fashion sales.
Ferragamo Returns to Profit as Relaunch Strategy Advances
The Italian luxury brand swung to a net profit for the first half after growing sales in the second quarter, with turnaround efforts particularly evident in its directly owned shops.
Shein Seeks $30 Billion to $40 Billion Valuation for August IPO, Sources Say
The valuation target marks a dramatic reset for Shein, which plans to launch its IPO as early as mid-August, three people familiar with the matter said.
Zalando Narrows Profit Outlook, Sees Growth at Lower End of Range
The online fashion retailer said 2026 revenue and growth will land in the lower half of its previously guided range and narrowed its adjusted operating profit outlook.