Following the announcement of 4 November 2016, Richemont announces some senior management changes within the Group & its Maisons.
Deloitte has called its 2016 study of the Swiss watch industry "Navigating through stormy waters", and this latest insight reveals a situation that is far from plain sailing. Over 80% of the executives surveyed are pessimistic about the outlook for the coming twelve months; that's twice as many as last year.
Figures are out for the first half-year. With net sales down 11.4%, Swatch Group results reflect the prevailing climate. The group remains optimistic nonetheless.
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Flagging demand, a strong Swiss franc, competition from smartwatches, changing consumption habits… multiple factors are prompting watch brands to rethink their strategy. Particularly distribution.
2015 marked an end to five years of growth for the Swiss watch industry as exports are expected to fall by around 4%, leading to layoffs and a build-up of inventory at retailers.
Students at the School of Applied Arts in La Chaux de Fonds were awarded their Horological Design diploma.