The Deloitte Swiss Watch Industry Study 2021 confirms a positive outlook for the sector, though not entirely without risks and challenges such as supply chain disruptions, greenwashing, falling export volumes, a diminishing appeal of Swiss-Made and reliance on China. There is still a lot to think about in a post-pandemic environment.
In partnership with the Responsible Jewellery Council, Cartier and Kering are launching the Watch and Jewellery Initiative 2030. Open to watch and jewellery brands across the globe, it lays down a common core of goals for the climate, natural resources and inclusiveness.
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.
The current economic crisis clearly implies spending cuts in non-essential or secondary sectors. Regrettably, the environment is often considered as such. However, not every Fine Watch brand is feeling the effects of recession to the same degree. In this context, a company could be well-advised to manage its environmental impact, given the repercussions this can have on its image. Unauthorised constructions, accidental pollution due to non-respect of safety regulations or the increased number of commuters in the Arc Jurassien regions are all detrimental to a company’s reputation. Note too that proper environmental management also saves money through optimised use of resources and routine recycling.
Bringing together the watchmaking tradition and the excellence of the jeweler’s savoir-faire, Van Cleef & Arpels creates exceptional timepieces. The Poetry of Time pays tribute to these creations through photographs signed by Guy Lucas de Pesloüan.
In the age of the wristwatch, many scoff at the mechanical clock and don’t deign to consider owning one. Such snobbery would be a mistake, particularly because you would miss the chance to relish the mechanical artistry performed by David Walter.
Brazil, Venezuela, Colombia, Chile, Argentina… the Latin American countries did suffer from the global crisis that affects the world economy. But they still represent interesting markets for the Haute Horlogerie brands.