Swatch Group and the Swiss Centre for Electronics and Microtechnology, in Neuchâtel, have announced a partnership to develop a complete ecosystem for small connected devices, including watches. The first products should be ready for launch at end 2018.
Difficulties encountered in the markets these past 18 months have sparked major upheaval within the branch, with groups reporting a mixed bag of results alongside a raft of comings and goings at CEO level. Who's in, who's out? And more to the point, what to expect?
Falling sales of Swiss watches in 2016 raise questions as to the price hikes observed in recent years. There is, however, no obvious answer to the problem.
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Following the announcement of 4 November 2016, Richemont announces some senior management changes within the Group & its Maisons.
The decline of watch industry exports reported for almost two years softened in November, in particular because there was one more working day than in 2015. The value of exports stood at just under 1.9 billion francs, down by 5.6%.
A recovery had been expected in the fourth quarter, but watch industry exports in fact reported their steepest fall of the year in October. Their value was 16.4% lower against October 2015 at 1.7 billion francs. The variation over ten months now stands at -11.0%.
Executives from Cartier, Audemars Piguet and MB&F came to the 8th Forum de la Haute Horlogerie to explain their business model in what is currently a hostile environment for watchmakers. While each has distinct characteristics, they all share the virtue of keeping their brands in the black.
Sales and profits for the six-month period ended 30 September 2016 were significantly below the prior year’s level, reflecting the difficult global environment, the exceptional inventory buybacks and challenging comparative figures in the first half of the previous financial year.