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?
On June 2nd, Vacheron Constantin unveiled the third and last set of the watches “Les Masques” (“Métiers d’art”) and exhibited the collection in the Metropolitan Museum of New York in the company of its predecessors from the two previous years.
Avidity, not luxury, is putting the world at risk. The avidity that threatens brands when they don’t deliver their promise of quality and originality, when they fail to respect their customers and put service bottom of the agenda.
Over the past several years, the Fine Watch sector appears to have grown more aware of its impact on the environment. Certifications, partnerships and energy-efficient buildings are just some of the many new initiatives, although not all these make the same contribution to reducing the sector’s ecological footprint.
Over the past six months, Swatch and Richemont share prices have soared, closely followed by PPR, LVMH and Hermès. For analysts, this is a sign that the worst of the crisis is behind us.
There are several possible lines of action to reduce the negative environmental impact of extracting precious materials. One solution would be for buyers to form a pressure group and request that producers provide guarantees. In 2008, the Swiss watch industry used 36 tonnes of gold or 1% of global consumption. This could be enough to put pressure on the market.