Fortune continues to smile on luxury companies in 2019, despite a volatile environment. Among them, Richemont is proving its "resilience" to geopolitical tensions.
Articles on the subject: Economy
At $120 per share or €14.5 billion, LVMH's offer for Tiffany was judged too low. Now the battle is on between luxury mastodons, which includes Richemont and Kering, to take control of the storied American jeweller.
With protesters more determined than ever after four months of unrest, Hong Kong is struggling to maintain its status as a world capital of luxury. Economic recession in the special administrative region spells bad news for watch brands as shipments to this main export market have fallen by 6% since the start of the year.
Three months ago, Patek Philippe and Vacheron Constantin were two of the hottest searches on Weibo: not for their watches, but because of customers' attempts to avoid import duty.
Bucherer's newly-opened Gallery in Geneva is entirely focused on pre-owned watches. As well as buying and selling, this lounge space will host events aimed at renewing the purchasing experience for a new generation of watch enthusiasts, through a concept Bucherer plans to roll out to other locations.
Dietlin Swiss Showcases has made its name in the luxury segment thanks to its revolutionary display cases. The 165-year-old company, which employs 15 people, is bringing the staid world of watch distribution into the twenty-first century – at last!