16% revenue growth in nine months for LVMH
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded a 16% increase in revenue, reaching € 38.4 billion in the first nine months of 2019. Organic revenue grew 11% compared to the same period of 2018. In the third quarter, revenue was up 17% compared to the same period in 2018. The United States and Europe saw good progress in the third quarter, as did Asia, despite the difficult context in Hong Kong. In the first nine months of 2019, the Watches & Jewelry business group recorded organic revenue growth of 4%, driven by jewelry. Bulgari enjoyed an excellent performance, especially in its own stores. After Beijing in 2017 and Tokyo in 2018, this summer, Chaumet presented its new exhibition in Monaco; “Chaumet in Majesty. Jewels of Sovereigns since 1780”. In watches, TAG Heuer continued to focus on its iconic lines and Hublot made solid progress.
HYT joins Mr Porter
Avant-garde watchmaker HYT recently landed at Mr Porter, the online luxury menswear retailer, with a curated selection of six timepieces from the brand. Fans of (very) limited editions can also head for the SIAR fine watch fair in Mexico City, October 15th-17th, where HYT is showing three unique variations of the H²0.
The Rolex "fantastic four" in Geneva
Phillips’ upcoming sale in Geneva, November 9th and 10th, will be an exciting time for collectors. Among the 200 lots crossing the block at Hôtel La Réserve, auctioneers Aurel Bacs and Alex Ghotbi have announced “exceptional examples of the ‘fantastic four’, a group of mythical non-professional models. These include a stunning example of the very elusive stainless steel reference 4113 (the only Rolex split-seconds chronograph model), an original and extremely well preserved pink gold reference 6062 “Stelline” with star-set numerals, possibly the finest stainless steel reference 8171 known within the collecting community, and an attractive and rare triple calendar chronograph Ref. 6236 Dato-Compax.”
Richemont acquires Buccellati
Richemont has acquired 100% of Buccellati Holding Italia S.p.A., the owner of Buccellati, the renowned Italian jewellery Maison, in a private transaction with Gangtai Group Corporation Limited, a privately held conglomerate. Buccellati was founded in Milan in 1919 by Mario Buccellati. The Maison has a rich history and patrimony. Its jewellery creations are renowned for their highly distinctive look and feel evoking silk, damask, tulle and linen. All jewellery pieces are handcrafted with techniques dating back to the Renaissance, in Buccellati’s four in-house workshops, all located in Italy. Buccellati is also active in the fields of watchmaking and silverware.
Watch design: welcome to the Club
A watch designer with more than 15 years’ experience and founder of the independent Swiss watch brand DWISS, Rafael Simoes Miranda is the winner of numerous international awards. On October 1st, 2019 he is launching a club for enthusiasts and collectors who want to be part of a unique team experience to create a timepiece and, with it, win a design award. The project will last for almost a year and will bring together around 200 people. Each member of the Club will be actively involved in the creative process to successively imagine the case, dial, hands, strap, buckle, etc. of the future watch. An initial prototype should be presented in Basel in May 2020, with production scheduled to begin between June and September. Members will receive a special Club edition in November. The watch will be entered in several international competitions. Registration is open now.
Swiss watch exports: what’s up?
Swiss watch exports were average in August. The value of exports was 1.5 billion francs, an increase of 1.5% compared with August 2018. The sector therefore remains on a slightly upward trend, in a still relatively challenging context, depending on the market. Eight months into the year, growth is at +1.9%. Performance varied widely across the main markets. In the United States (+14.8%), growth continued to increase regularly, making it the top export market in August. In Asia, Hong Kong (-12.7%) continued on a downward trend, but avoided another sharp fall, as had been feared. China (+13.7%) again produced strong growth, while Japan (+34.5%) soared. Europe (-2.7%) saw an overall decline.
Make a date with Swiss watchmaking heritage
Take a rare, behind-the-scenes look at watchmaking, its manufactures and specialist professions at the Biennale du Patrimoine Horloger, November 1st, 2nd and 3rd in La Chaux-de-Fonds, home of Swiss watchmaking. This ninth edition is a special one, as it is ten years since La Chaux-de-Fonds and neighbouring Le Locle were designated UNESCO World Heritage Sites for their urban planning, designed to facilitate watch production. The full programme for the three days is online from September 24th.
TAG Heuer and Porsche, new Formula E partners
The Porsche works entry into the ABB FIA Formula E Championship 2019/2020 will be under the name of “TAG Heuer Porsche Formula E Team”. This ambition and this passion for motorsport are part of the common set of values uniting TAG Heuer and Porsche. This culture they share has always been anchored in an avant-garde approach – always looking to challenge convention and innovate, both in terms of aesthetics and uncompromising quality. This new partnership in Formula E will reap the benefits of combining expertise across various areas to push both companies to new dimensions in terms of technology, accuracy and connectivity.
Hublot to help protect the rhinoceros
Hublot has joined in partnership with Kevin Pietersen and SORAI (Save Our Rhinos Africa and India) to protect the rhinoceros, which is facing extinction. The ex-international cricket star, and Brand ambassador, is now able to dedicate himself entirely to a cause very close to his heart: saving these huge herbivorous mammals, found in Africa and in Asia, now a matter of urgency for the planet and our future generations. To seal this collaboration, the watch Manufacture has developed a watch which will be unveiled very soon.