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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.
Christmas is a critical period for watch brands, with some making up to 40% of their annual revenues over the holiday season. This year, the majority have put together strategies aimed at boosting declining sales.
Like the Manufacture in Geneva where its watchmakers are trained, Patek Philippe’s service centre in Spain has the expertise to repair contemporary watches and restore vintage models.
No courses have been cancelled and, after a slighter smaller intake this year, the number of places will increase in 2010.
A country-by-country analysis of Swiss export figures shows that France has been one of the most buoyant markets since 2006, distinct from the other countries that share the top five spots. Laurent Picciotto, proprietor of Chronopassion in Paris, suggests why.
Over the past several years, the Fine Watch sector appears to have grown more aware of its impact on the environment. Certifications, partnerships and energy-efficient buildings are just some of the many new initiatives, although not all these make the same contribution to reducing the sector’s ecological footprint.
