The gap continues to widen between luxury watches and entry-level, resulting in a slight increase in total export value alongside a drastic decline in volume. Suppliers suffer as the sector becomes increasingly consolidated.
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Patrick Pruniaux, CEO of Ulysse Nardin and Girard-Perregaux, believes watch brands, irrespective of size, fall into two categories: the exciting ones and the others. We found out more at Dubai Watch Week.
At $120 per share or €14.5 billion, LVMH's offer for Tiffany was judged too low. Now the battle is on between luxury mastodons, which includes Richemont and Kering, to take control of the storied American jeweller.
Brands have wised up to the benefits to be gained from associating their name with art venues and exhibitions; creative contexts whose audiences are also potential customers.
Swatch Group is struggling to convince investors. Its share price has been virtually flat since January, after losing 42% over the last seven months of 2018. Richemont, in comparison, is making headway. Meanwhile, French luxury groups are flying high.
At SIHH, sustainable development was one of the subjects under discussion in the Auditorium, which hosted two panels on precious stones and precious metals supply chains - a question that can no longer be ignored.