French luxury goods maker LVMH expects strong growth for its watches and jewellery in China next year, as it seeks a stronger foothold in the country's third-tier cities, the North Asia head of the company's watch and jewellery unit said.
Swatch Group plans to stop selling watch parts to other watchmakers, the group's chairman said in a newspaper interview, a move that be a blow to an industry already grappling with a sharp drop in demand.
When Latvia's economy blossomed, Lotte Tisenkopfa was skeptical. "I saw very well that the bubble's going to burst," Tisenkopfa said, and as she kept watch on the looming crisis, she and her three friends founded Madana, a cosmetics company.
Cartier, maker of fine jewelry and watches for the wealthy, has expanded its range of more affordable products ahead of Christmas, meaning more than just a select few may find its red boxes in their stockings this year.
Demand for Swiss watches fell 22 percent in August, when the pace of decline eased for the second month in a row, but appetite for timepieces remained weak in the key Hong Kong and U.S. markets, the Swiss watch federation said.