With the economy back in business and exports on the rise again, brands are newly inclined to show off their capacity for innovation and imagination. Here are some of the watches from the stream of recent releases.
Xi Jinping’s call for “common prosperity” sent shudders through the stock market. This new policy, which portends a drop in purchasing power for the wealthiest Chinese, pushed down luxury share prices, which includes watch brands. What implications does this have?
Speaking at the Reuters Global Luxury Summit, held early June in Paris, Rolf Schnyder, CEO of Ulysse Nardin, announced that the brand had increased its prices in the euro zone to offset depreciation in the single currency. He expects sales to increase by 20% to 25% this year.
Ideas, trends and fashions may be born the world over in cities like London, Tokyo and New York, but it’s in Beverly Hills on Rodeo Drive that a product gets its test for success.
Nicolas G. Hayek passed away in his office at the age of 82. Rightly credited as the man who saved Swiss watchmaking, he worked relentlessly to develop a group which, with its 24,000 employees, 160 factories and gross sales of CHF 5.4 billion in 2009, stands head and shoulders above the global watch industry.
Nicolas Hayek was known for his straight talking, for his no-holds-barred stances, and for his talent as a showman.
Tourism is taking off again in the Caribbean, and watch sales with it. In Saint Martin, Barbados and Porto Rico, purchases are made in a matter of minutes, and retailers must explain complex timepieces to holiday-makers in less than an hour.
Parmigiani plans to open three stores in China this year, where the brand currently has next to no representation, and take advantage of the "amazing growth" in what has become a priority market for Swiss watchmakers.