Swiss Watchmakers Sound Upbeat on US as Long as Stocks Last
A surge in exports in July should shield Swiss watch brands from the full impact of a new 39 percent U.S. tariff
Watches
Can Formula 1 Keep TAG Heuer in the Fast Lane?
The LVMH-owned brand plans to spend nearly 20 percent of sales on marketing this year, new CEO Antoine Pin says, doubling down on partnerships in the fast-expanding world of F1 racing in an effort to keep up growth in a sluggish watch market.
Swiss Watch Exports Could Dwindle to 12 Million Units As High-End Shift Accelerates
'Big Four' watchmaking brands Rolex, Patek Philippe, Audemars Piguet and Richard Mille all grew last year, Morgan Stanley’s annual report said. But less sought-after names including Tudor, LVMH’s Hublot, Swatch’s Longines and Breguet all registered steep declines.
Decoding LVMH Watch Week
The event was the first time the group’s watch brands had come together publicly since LVMH Watches chief executive Frédéric Arnault announced plans to streamline the division’s operations in November last year.
Piaget’s CEO on Powering Growth in a Challenging Watch Market
The Richemont-owned jewellery and watch brand is enjoying newfound momentum after relaunching its Polo 79 timepiece — part of a broader programme to reactivate the glamour of its jet-set glory days. CEO Benjamin Comar shares his vision for how Swiss watchmakers can reach new clients in a tough market for hard luxury for The State of Fashion: Luxury.
The Return of the Non-Smart Watch
Mark Zuckerberg’s $900,000 Greubel Forsey watch signals his embrace of a growing trend among Gen-Z and beyond: the return of traditional mechanical wristwatches, as the younger generation seeks nostalgia, authenticity, and subtle status symbols amid the decline of smartwatches.
The Best of BoF 2024: Designer Reboots and a Rocky Market
The luxury industry was under pressure in 2024 as customers pulled back on high-end purchases. Brands from Chanel to Valentino to Fendi changed their creative lineups, hoping to jump-start demand. But the struggles at Gucci and Burberry show how tricky executing a designer relaunch can be.
How LVMH’s Hublot Plans to Rise Above a Watch Market Downturn
New CEO Julien Tornare plans to reinforce the brand’s value proposition by investing in bold design, craftsmanship and growing the company’s cultural impact beyond football. “It’s not just because something is luxury that people are willing to pay any price,” Tornare said.
How Grand Seiko Is Seizing Japan’s Luxury Shopping Moment
Tourist shoppers have flocked to Japan to take advantage of top-quality shopping and a weaker yen. Seiko Group president Akio Naito breaks down how the watchmaker’s high-end brand — sometimes referred to as the ‘Japanese Rolex’ — plans to keep up momentum after beating the market this year.
Ulysse Nardin and Girard-Perregaux Chart a Post-Kering Future
Two underdog watchmakers with centuries-old histories have had to furlough workers in a slowing luxury market. But CEO Patrick Pruniaux sees opportunity ahead as the brands endeavour to stand on their own in the wake of a sale by Gucci-owner Kering.
Swiss Watchmakers Seek State Aid Amid Luxury Downturn
Some brands say they are furloughing workers to avoid permanent cuts.
Swiss Luxury Watch Market Succumbs to a Brutal China-Led Slump
The double-digit drop in sales seen in the latest results mark a stunning reversal of fortune for an industry that enjoyed an unprecedented sales boom during the pandemic-era.
Richemont Names New Brand CEOs
The Cartier and Van Cleef & Arpels owner is reshuffling its top management team once again amid wider succession planning.
THE NEWS IN BRIEF
Jean-Christophe Babin Named CEO of LVMH Watches
LVMH has appointed Jean-Christophe Babin to the helm of LVMH Watches, succeeding LVMH-scion Frédéric Arnault, the group announced in a statement on Friday. The role oversees LVMH’s watch brands TAG Heuer, Hublot, and Zenith. Babin will maintain his position as CEO of Bulgari.
Rolex Fined $100 Million for Thwarting Online Watch Sales
Rolex was fined about $100 million by France’s antitrust agency for pursuing an illegal decade-long crackdown on distributors selling the Swiss firm’s luxury watches online.