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.
luxury / Watches
Luxury
LVMH’s Zenith Embarks on 3-Year Overhaul, May Shed Hundreds of Staff
The watchmaker, which aims to move upmarket, will close stores and discontinue collections in a bid to stem losses before reemerging in 2029.
Luxury
Why Did Chanel Invest in Mid-Tier Watchmaker Ebel?
Chanel joined independent watchmaker F.P. Journe in the $66.5 million purchase of the Swiss brand, a big bet as mid-range watches are hardest hit by an industry slump.
Watches
A $60 Casio Watch Is a New Political Status Symbol in Thailand
Casio watches gifted by Thailand’s Prime Minister Anutin Charnvirakul to cabinet ministers, senior bureaucrats and political allies have become a badge of proximity to power.
Luxury
Why Audemars Piguet Is Pushing Into High Jewellery
The privately-owned Swiss watchmaker is hiring gemologists to bulk up expertise in high jewellery — and is unveiling its latest collection in Paris.
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Luxury
Patek Philippe Is Not for Sale, Says Owner Thierry Stern
The owner and president of one of the biggest names in Swiss watchmaking said he plans to hand the multibillion-dollar business to his two sons.
Luxury
Inside De Beers London’s Plan to Rebrand Itself — and Diamonds
A cabochon-cut stone resembling a water droplet, recently introduced by De Beers London, is an unusual look for a diamond. CEO Emmanuelle Nodale sat down with BoF to explain how it fits into a sweeping rebranding strategy.
Luxury
Why Watch Brands Like Hublot Are Eyeing Art
An inflated dog balloon watch – Hublot’s tie-up with Jeff Koons unveiled this week – reflects the brand’s attempt to expand beyond sports and marks the industry’s increasing embrace of art.
Luxury
At Geneva Watch Days, Brands Fret About Fate of Suppliers
An industry temperature check in Geneva showed executives concerned about component suppliers as the polarisation of the Swiss watchmaking sector deepens.
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Luxury
Luxury Watchmakers Say Gen-Z Buying Trends Call for Bold Changes
The luxury watch industry needs bigger, bolder innovation and ideas to lure new customers as it hits the limits of its well-worn strategy of boosting revenue with ever-pricier offerings.
Luxury
Why Watchmakers Should Pay Attention to Gen Z
The digitally native generation has been pulled in by nostalgia for vintage mechanical watches, especially unusual designs, but can traditional watchmakers leverage the attention?
Luxury
How Value Became Watchmaking’s Biggest Trend
As the boom in trophy timepieces cools, a new generation of enthusiasts is fuelling demand for accessible watches that deliver strong design, quality and heritage, made by brands ranging from Casio to Tissot.
Luxury
Is State Aid the Swiss Watchmaking Sector’s Fig Leaf?
Switzerland’s support for watchmaker jobs has been extended another year, but a wider structural problem looms.
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.