Over 10% of US adults to own a smartwatch in 2019
The US smartwatch market is expected to expand in 2019, marketing research company eMarketer claims. One in ten American adults will have a smartwatch on their wrist this year. What’s more interesting, a large number of said smartwatch users will be comprised of older Baby Boomers. As can be expected, one of the biggest drivers for the increased adoption of wearables among the older generations are the new ever-evolving health monitoring features. A prime example for this is the Apple Watch Series 4, which allows users to get electrocardiogram (ECG) readings on the go and has the ability to detect sudden falls – one of the major causes of death in the elderly.
Chanel takes a stake in Kenissi Manufacture
Chanel continues to strengthen its position in prestigious Watchmaking by taking a stake in Kenissi, a new Swiss manufacturer of automatic movements. This move, initiated in 1993 with the purchase of the G&F Châtelain Manufacture located in La Chaux-de-Fonds, is part of the desire to provide its creations with the highest quality casings and movements. Today the Kenissi Manufacture offers a range of robust and high performance calibers. Currently based in Geneva, Kenissi will be moving to a new building located in Le Locle in 2021. During Baselworld in March 2019, Chanel will present a brand new creation equipped with an automatic movement created by the Kenissi Manufacture.
Slower growth of Swiss watchmaking in November
Watch exports continued to show strong growth in November, despite losing momentum due to a negative base effect. Monthly income exceeded the 2 billion francs mark for the first time since October 2015, increasing by 3.9%. Performance in the main price segments contrasted sharply in November, with the only increase in watches selling for over 3,000 francs (export price). The 500 – 3,000 francs range was stable, while timepieces under 500 francs recorded a significant downturn. Most markets enjoyed positive growth. The strongest increase (+17.6%) was in the United States, the second most important market, again reinforcing the upswing that has continued since the beginning of the year. Asia (+8.2%) continued to grow, though somewhat slowly than previously. Hong Kong (+9.5%), China (+15.1%), Singapore (+9.5%), UAE (+12.5) and South Korea (+15.8%) were among those making a significant contribution to global growth. Europe (-5.9%) moved in the opposite direction, as it has for most of this year.
Rolex, Switzerland's biggest sponsors in 2018
Rolex, Omega, UBS, Credit Suisse, Hublot and TAG Heuer are the largest Swiss sponsors according to Sponsorize. The Swiss company Rolex is considered as the biggest investor in sponsorship. The watch brand is particularly present in golf. Sport and culture remain safe areas for large Swiss companies seeking international sponsorship. However, the different social trends and environmental responsibility are increasingly appearing in corporate sponsorship strategies, without yet rivaling traditional themes. In terms of investment, the watch groups lead the ranking: Rolex (CHF 180 to 200 million); Omega (150 to 170 mios); UBS (120 to 140 mios); Hublot (100 to 120 mios); TAG Heuer (80 to 100 mios).
Breitling joins Tmall’s Luxury Pavilion
Swiss watchmaker Breitling announced the official opening of its flagship store on Tmall and a new partnership with Tmall’s luxury platform Luxury Pavilion. The announcement coincided with the launch of the new Breitling Premier collection. This new partnership with Alibaba creates a more streamlined online customer experience for younger generations. Founded in April 2008, Tmall is committed to offering a premium online shopping experience for a growing number of Chinese consumers. It has now become the largest e-commerce platform for brands’ flagship stores and retailers in China. Breitling also joined forces with the platform’s luxury channel Luxury Pavilion which is an exclusive platform for luxu¬ry brands, which combines a customization ex¬perience with a target display of luxury products.
MrIndex.com compares the official watch prices
MrIndex.com is the first online search tool for watch buyers and collectors. It uses daily updated prices gathered on of the largest Swiss watch brands websites. He answers the question: Where in the world can I buy a model at the lowest price? As the purchase price of a luxury watch varies from one country to another, MrIndex.com has decided to compile and list all prices of the most prestigious watch brands, from Rolex to Omega, including Patek Philippe, Audemars Piguet, and many others. MrIndex.com is a tool that offers luxury watch buyers the opportunity to find official prices lower than those of their country of residence.
Swatch Group controls its entire gold processing chain
Swatch Group now controls the entire gold processing chain internally. Its own foundry, which has just been granted a Responsible Jewellery Council (RJC) Code of Practices (COP) certificate, is now able to manage all of the gold requirements within the Group. Swatch Group has thus taken a new step forward in traceability. Nivarox, a subsidiary of Swatch Group, was audited by an independent Swiss body in October 2018 for its Responsible Jewellery Council COP certification. Swatch Group received the official certificate from the RJC last Friday. All of the Group’s gold will be processed in a totally closed cycle and under strict internal control. In other words, the entire transformation process – from the foundry to the semi-finished and finished products – is controlled within Swatch Group.
CVC acquires remaining 20% of Breitling
CVC Capital Partners has acquired the remaining 20% of Swiss watchmaker Breitling from Théodore Schneider. CVC acquired an 80% stake in the business from the Schneider family last year, at a valuation reported to be in the region of €800m. Company director Théodore Schneider reinvested for a 20% stake at the time. The company was founded in 1884 by Léon Breitling who played a key role in the development of the chronograph in a wrist watch. The company has two manufacturing facilities in Grenchen and La Chaux-de-Fonds, and employs approximately 900 people.
United Kingdom sets October record for imports of Swiss watches
This year, the British watch industry has struggled to match the stratospheric results of 2017 (+7% to CHF 1.3 billion), but October saw a notable return to growth with a 5% increase of Swiss watches. The total for October of CHF 128.5 million is the highest monthly import figure since November 2016’s CHF 129.4 million. Q4 of 2016 was one of the hottest periods on record as the devaluation of sterling after the Brexit vote gave the UK a massive price advantage for luxury watches over other European or dollar-based countries. For the first 10 months of 2018, Swiss exports to the UK are still running at 5% below the same period last year.