Richemont, the maker of Cartier watches, beat forecasts with a 12 percent drop in its full-year operating profit, boosting shares, but cautioned it faced tough markets and said its head would step down this year.
The watch and jewellery business Mywa has signed a licensing partnership with the sports’ brand Puma for its collection of watches. This replaces Puma’s contract with its previous partner, the Hong Kong based EganaGoldpfeil, which had expired.
Luxury goods stocks continued to slide on Tuesday 28 April as the swine flu outbreak raised fears it could hold back travellers, traditional buyers of upmarket handbags, watches and other pricey items.
At the same time as the deployment of online shopping, Hermès is considering necessary technology adaptations to sell on internet capable “smart phones”. “The technology is developing very quickly. We must take advantage," explained Charles Henri Leroy, director of client relations.
Exports of Swiss watches fell for a fifth month in row in March, with sales in the key markets of Hong Kong and the United States dropping fast as spending on luxury items shrank, data showed on Thursday 23 April.
Foreign luxury brands looking to win in China need to reach into cities that are barely known to the rest of the world but are home to startling and fast-growing wealth, a series of studies shows.
Swiss company Sequel, holder of the international licences for Guess jewels and watches, has extended its agreement for Italy with the company from Milan, Time2Group.
Purveyors of luxury goods are waking up from their dream of conquering India as the last great frontier for their high-end and high-priced wares.
Demand for timepieces fell 15 percent at this year's Baselworld watch and jewellery fair as the gloomy economic outlook made retailers take a cautious approach to stocking up on luxury accessories.
After Paris and Geneva, Hublot is heading for Mauritius. The watch-maker, now a part of LMVH group, will open its third boutique there, at the heart of the Four Seasons Resort at Anahita.
Switzerland's watch exports, a market is leads worldwide, could drop by as much as one-third this year, Rolex chief said Bruno Meier in a German newspaper interview published Sunday March 29.
Swiss watch exports tumbled 22.4 percent in February compared to a year ago, the Federation of the Swiss Watch Industry said Thursday March 19, with exports to the United States plunging by almost half.
IFF has announced the opening of a new high-tech centre for flavourings and perfumes on the outskirts of Sao Paolo, a way for the company to increase its presence in South America as well as increase its supply capabilities.
The watch and jewellery manufacturer Timex has announced the strengthening of its workforce at its site in Middlebury, Connecticut.
Jewellers and watchmakers are bracing themselves for make-or-break deals at the world's top luxury trade fair in Basel starting on Thursday March 26 as the industry suffers its worst decline in a more than a decade.
