Golf has plenty to appeal to watchmakers, from its affluent audience to the performance and precision inherent to the game, and the technical challenges this sport represents. The hard part is finding a spot on the greens, which are dominated by a quintet of brands.
Articles on the subject: Economy
Ahead of its Annual General Meeting, the Group Compagnie Financière Richemont SA announces that its sales for the five months ended 31 August 2018 increased by 25% at constant exchange rates and by 22% at actual exchange rates.
Steered by chairman and main shareholder Johann Rupert, Richemont is radically and rapidly transforming, with changes on the board of directors, inventory buyback, omnichannel distribution, and a new approach to luxury. A round-up of recent developments as the group announces five-month results at its annual general meeting.
The year has got off to a resounding start for publicly-traded luxury companies, with double-digit growth and a strong outlook for the full twelve months. For watch companies, it's a similarly rosy picture.
The online marketplace for luxury pre-owned watches has opened a branch in Switzerland. We caught up with Executive Vice President Patrick Hoffmann, formerly CEO of Ulysse Nardin, in his Neuchâtel office to talk about the platform, which does a lot more than just sell watches online.
In the list of the most reputable multinationals in 2018, Rolex takes top ranking for the third consecutive year, beating Lego and Google to the number-one spot. Meanwhile, a similar survey of the main publicly listed Swiss corporations puts Swatch Group and Richemont second and third, behind bathroom manufacturer Geberit.
Having observed the digital transformation of marketing and media, Thomas Baillod set up Mercari Academy to prepare current and future managers for the challenges in distribution as it enters its digital age.
In 2017, the main growth engine of the luxury market was a generational shift, with 85% of luxury growth in that year fuelled by Generation Y & Z (Bain & Co). With the millennial mindset reportedly so different from generations before, are luxury watch brands doing enough to seduce these new luxury consumers?