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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.
In the name of sport, the modern Olympic Games stigmatise excess, social divides and cheating. So how are watchmakers liable to fare within this context? They will definitely not succeed in salvaging their year in Rio.
After a 9.5% fall in exports over five months, the Brexit vote makes for an even more uncertain future for Swiss watch brands. Particularly as the UK has weathered a difficult year so far with some tremendous growth.
Flagging demand, a strong Swiss franc, competition from smartwatches, changing consumption habits… multiple factors are prompting watch brands to rethink their strategy. Particularly distribution.
The downturn in Swiss watch exports continued in May. Their value dropped 9.7% compared to last year, to stand at 1.6 million francs. Over the first five months of the year, the level was lower than that of 2012.
When Japan's Citizen group bagged Frédérique Constant, it disproved the oft-repeated theory that there are no more Swiss watch brands for sale.
In April, China introduced a 60% import tax on luxury goods, up from 30%. While the impact of this hike is still hard to evaluate, it further complicates matters for Swiss watch brands.
