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.
Chopard has kept its promise. Since July, the brand uses only gold from ethical sources. But at just 5% of global watch and jewellery production, sustainable gold is still as rare as the initiatives aimed at making responsibly-sourced gold the norm in the luxury industry.
Golf has plenty to appeal to watchmakers, from its affluent audience to the performance and precision inherent to the game, and the technical challenges this sport represents. The hard part is finding a spot on the greens, which are dominated by a quintet of brands.
Ahead of its Annual General Meeting, the Group Compagnie Financière Richemont SA announces that its sales for the five months ended 31 August 2018 increased by 25% at constant exchange rates and by 22% at actual exchange rates.
Steered by chairman and main shareholder Johann Rupert, Richemont is radically and rapidly transforming, with changes on the board of directors, inventory buyback, omnichannel distribution, and a new approach to luxury. A round-up of recent developments as the group announces five-month results at its annual general meeting.
The year has got off to a resounding start for publicly-traded luxury companies, with double-digit growth and a strong outlook for the full twelve months. For watch companies, it's a similarly rosy picture.
The online marketplace for luxury pre-owned watches has opened a branch in Switzerland. We caught up with Executive Vice President Patrick Hoffmann, formerly CEO of Ulysse Nardin, in his Neuchâtel office to talk about the platform, which does a lot more than just sell watches online.