Montblanc: Expansion in India
“Today Montblanc has 10 boutiques in India and we as a luxury brand have the highest geographical penetration in the country”, says Franck Juhel, President of Montblanc Middle East, India and Africa. “By the end of 2018 we plan to have five more boutiques, so we will have a total of 15 boutiques. But the market demand is double that, in other words 30 boutiques.” Furthermore, since 1st of April Montblanc went live on Tata CliQ, the prominent Indian e-commerce website.
Global partnership between WatchBox and Revolution Media
WatchBox, the global e-commerce platform for pre-owned watches announces a global partnership with Revolution Media, the publisher of Revolution Magazine, in a venture to accelerate the global demand for pre-owned watches. The partnership allows readers immediate access to purchase watches featured on Revolution. Readers can also sell or trade their existing watches through Revolution’s website or app.
LVMH: Revenue growth of 10% in first quarter 2018
LVMH Moët Hennessy Louis Vuitton, the world’s leading high quality products group, recorded revenue of 10.9 billion Euros for the first quarter 2018, an increase of 10%. Organic growth was 13% compared to the same period of 2017, an increase to which all business groups contributed. In the first quarter of 2018, the Watches & Jewelry business group recorded organic revenue growth of 20%.
IWC offers an online tool for made-to-order watches
Prior to the start of Baselworld, the Richemont-owned brand IWC announced its launch of an online customization tool that allows customers to create their own versions of the Ingenieur chronograph and then order those watches directly. This comes less than a year after IWC launched its latest U.S. website, complete with an e-commerce boutique. And, while for now the tool is limited to the single model – the Ingenieur Chronograph – the idea is to be pushed further in the future. Today is almost certainly just the beginning.
100% Ethical Gold at Chopard
After introducing Fairmined gold in 2013, Chopard has announced a new step forward in its commitment to sustainable and ethical luxury. Starting from July, it will use Ethical Gold, defined as gold acquired from sources that are verified as meeting international best practice environmental and social standards, for 100% of its watches and jewellery. The gold’s traceability will be certified by the Swiss Better Gold Association and the Responsible Jewellery Council Chain of Custody.
Swiss watch exports grew by 13% in February
The strong growth of watch industry exports reported in January was confirmed – and even bettered in February. Their value reached 1.7 billion francs, an increase of 12.9 % on the February 2017 figure. Growth extended to all price segments led by watches priced at between 500 and 3,000 francs (export price) whose value was up by 19.3%. Timepieces priced at over 3,000 francs (+12.9%) fell within the average range. Products costing less than 200 francs achieved 7.8% growth after falling sharply for more than one year. The three leading markets for Swiss watch industry exports reported much stronger growth than the global average. Hong Kong (+35.7%) and the United States (+26.3%) saw their strongest monthly advance for six years. China (+21.7%) also exceeded the 20% growth mark after +44.3% in January despite an unfavourable base effect.
This year marks the 35th anniversary of Swatch
To commemorate the occasion, Swatch is collaborating with Italian artist and filmmaker Ugo Nespolo to release a special limited edition, the Swatch Ugo Art Special 35th Anniversary watch. Although most people know Swatch as a purveyor of trendy and inexpensive Swiss-made analog quartz watches, most watch lovers know it as something more. We know it as one of the saviors of the Swiss watchmaking industry. Founded in 1983, Swatch was created as a response to the quartz crisis. It was analog, it was trendy, but most importantly, it was made in Switzerland.
Laurence Nicolas from Dior to Sotheby’s
Laurence Nicolas, 53, is now the executive vice president, global managing director of jewelry and watches at Sotheby’s, reports The New York Times. The position was created for her, an indication of the auction house’s enhanced focus on watch and jewelry sales. After she earned a master’s degree in international finance, Laurence Nicolas got a job at Price Waterhouse, auditing Cartier and Piaget. Then Cartier sent her to the United States as its vice president of marketing. In 2001 she was lured away by Christian Dior Couture, where she began working with its jewelry division and, in 2008, added timepieces — becoming the chief executive of Dior Timepieces & Fine Jewelry.
High-end watches to cost more as duty doubles in India
Just when things had started running like clockwork, India’s fledgling luxury watch market is bracing for another jolt, as customs duty has doubled to 20% on imported watches and clocks, says Times of India. So, if you have been saving up for that lovely model of Seamaster from Swiss watchmaker Omega, be prepared to shell out more. For instance, a Seamaster, which would have set you back by around Rs 2.87 lakh, will now cost you more than Rs 3 lakh. Similarly, a Breguet worth Rs 5 crore will now cost Rs 30 lakh more.