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At five points in the past 500 million years, life on Earth was almost completely wiped out. We are now on the brink of a sixth mass extinction, and we are the cause. Can humans right their wrongs? The luxury industry must lead by example.
An influx of capital ends a year marked by a boom in sales at auction and on the pre-owned market as watches take on a new role as investment products.
For brands that have made dive watches a speciality, safeguarding the oceans is high on their list of commitments to sustainable development.
For brands that have made dive watches a speciality, safeguarding the oceans is high on their list of commitments to sustainable development. A tool devised by Fondation de la Mer in collaboration with Boston Consulting Group means they can now measure their impact and progress.
As confirmed by Richemont’s third-quarter results, jewellery sales remain strong to the point that jewellery is the most promising segment in the personal luxury goods market. Driving this growth: changing purchasing patterns and soaring demand among Chinese customers.
After a forecast decline of 23% in 2020, Bain & Co expects the personal luxury goods market to gain in the region of 15% this year. All eyes are on the evolution of Covid-19, macroeconomic factors and the return of international travel.
Several major transactions involving luxury companies took place in the last quarter 2020, with analysts forecasting more mergers and acquisitions activity in the months to come. Luxury titans, private equity investors and Chinese conglomerates are leading the fray.
As Swiss watch exports rallied in the last months of 2020, China’s insatiable appetite for luxury is on track to dominate the global market well into the future.
