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At five points in the past 500 million years, life on Earth was almost completely wiped out. We are now on the brink of a sixth mass extinction, and we are the cause. Can humans right their wrongs? The luxury industry must lead by example.
An influx of capital ends a year marked by a boom in sales at auction and on the pre-owned market as watches take on a new role as investment products.
A watch changes hands every five seconds on eBay. The platform has become so successful as a marketplace for pre-owned luxury timepieces, it has published its own 2020 Luxury Watch Report.
The strong growth and healthy earnings projection from Watches of Switzerland, the world's second-largest retailer, offer a ray of sunshine.
Brands are keeping silent as to a possible shortage of components from China, the main supplier of parts to the Swiss watch industry.
Eight months of pro-democracy protests in Hong Kong have put paid to the region's status as the number-one market for Swiss watch exports, overtaken by the United States in January. The coronavirus outbreak is likely to have further impact in the first half-year.
For luxury brands to capture and hold the attention of Asia's luxury shoppers, they must listen to fans, go behind the scenes of social media and connect with commerce.
The outbreak of coronavirus could weigh heavily on watch brands' bottom line, given that the traditional Lunar New Year spending spree didn't happen. Asia, excluding the Middle East, accounts for 44% of Swiss watch exports, suggesting a chaotic year ahead.
