As prices have tumbled from February highs, shares in listed luxury companies have all the charm of an excellent investment opportunity, with the added appeal of a pandemic-proof balance sheet.
Articles on the subject: Economy
We're accustomed to seeing watchmakers associate their image with big-name personalities from the worlds of sport, film and fashion. Now some are taking a different tack, such as Jaeger-LeCoultre with comic strips, or Parmigiani and poker.
In 2010, the Swiss watch sector came through the turbulence of the previous year. After wristwatch exports pulled in CHF 15.1 billion, the sector is within a hair's breadth of equalling its record of 2008. The blots on the horizon: a strong Swiss franc and higher raw material costs.
With a 59.1% surge in the Swatch Group's share price and Richemont shares gaining 58.3% in 2010, both groups were clearly two of the market's favourites last year, particularly considering that the Swiss Market Index lost 1.7% for the same period.
The latest World Watch Report from IC-Agency confirms the rise of China, which is also reflected in online searches by watch fans. IWC, Patek Philippe and Zenith remain the top three brands searched for on the Internet.
A year and a half ago, Jean-Frédéric Dufour set about refocusing Zenith on its fundamental values with the result that last year the brand announced double-digit growth. It now moves ahead with its strategy.