Hainan island – one of the stop-offs for Watches and Wonders 2020 – reels in tourists and Chinese shoppers with its beaches, palm trees and duty-free malls, a sector that is now opening to competition. Richemont is in the running through a collaboration with China Duty Free Group and a stake in Dufry.
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In the space of a year, Farfetch has become the one to watch in luxury e-commerce, a position confirmed by the billion-dollar investment by Richemont and Alibaba in the company, which is still reporting losses, and by its share price performance. In the twelve months to February 18, Farfetch stock gained almost 450%.
MicroLean Lab, a public-private consortium that includes Richemont, is developing the microfactory of the future; a concept that has the potential to transform our economic and social organisation right down to how we consume. Welcome to the world of artisanal industry, where the customer truly is king.
A record half-year for WatchBox, brick and mortar openings in Paris and Geneva for Watchfinder, a certified pre-owned gallery in Bucherer's Parisian flagship… the pre-owned watch market keeps on growing.
In 2018 he launched the Watch Trade Academy based on a new approach to distribution. A year later he set up his own brand to prove its benefits. Now Thomas Baillod is starting to reap what he has sown.
Ex-LVMH Thierry Huron launched The Mercury Project in 2016 to provide business intelligence for the watch and jewellery industry. This includes a sell-out index for nine markets - a more reliable indicator than export figures.
It's now a case of size matters in the watch industry, both for manufacturers and for retailers. The UK-based Watches of Switzerland Group is an excellent example, as its share price confirms.
At the online presentation of the brand's first new releases for 2020, Georges Kern gave insight into Breitling, a brand he's led for three years, and the chaotic environment of the past months.