For certain brands, growth isn't about selling more but selling better. Audemars Piguet was first to put a limit on production, successfully so. Now Roger Dubuis and Panerai are following suit.
Articles on the subject: Economy
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.
Richemont has found a partner of choice in Alibaba to develop its Net-A-Porter and Mr Porter online platforms in China. With the biggest IPO in history and 600 million users to its name, Alibaba is behind more than 50% of e-commerce in its domestic market.
Luxury watches hold strong appeal in China, prompting brands to find new ways of tapping into this market. After experimenting with solutions such as WeChat and e-commerce platforms, more and more brands are using influencers to reach new customers.
Increasingly, watch brands are taking environmental concerns into consideration, from renewable energy to soft mobility solutions. This is a natural progression in an industry focused on the long term.
China is one of the major growth engines for the luxury industry in general, and for Swiss watches in particular. The country is also the third-biggest exporter of watches in value terms. Should the Alpine nation be concerned?
The recent resignation of Jean-Claude Biver from the helm of LVMH's Watch division has prompted the appointment of Frédéric Arnault as strategy and digital director at TAG Heuer. He is the fourth of Bernard Arnault's children to take up a senior position within the group.
In a recent study, the Boston Consulting Group and the Centre du luxe et de la création set out the directions luxury must take if it is to go on meeting customers' expectations. They include ethical and environmental responsibility, personalisation, unique purchasing experiences and prices that reflect the perceived value of the product.