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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.
With protesters more determined than ever after four months of unrest, Hong Kong is struggling to maintain its status as a world capital of luxury. Economic recession in the special administrative region spells bad news for watch brands as shipments to this main export market have fallen by 6% since the start of the year.
When all balance springs were metal, Swatch Group's Nivarox enjoyed a virtual monopoly. The most widespread alternative, patented silicon technology, is also the property of a handful of manufacturers. However crucial it may be, mechanically and strategically, the balance spring is about materials science, not horological genius.
Not known for architectural swagger, Swatch Group has cut the ribbon on the new Swatch headquarters. The snake-like building is like nothing ever seen before in the branch. For Nick Hayek, it's about sparking the emotions and arousing curiosity.
Exposure to magnetic fields isn't without consequence on a mechanical watch's proper functioning. After early attempts to resolve the problem, recent innovations are delivering promising results. Demagnetising tools are also benefiting from new developments.
Luxury firms continue to perform well, as demonstrated by their first-half results. The situation is slightly more complex for watch brands, in particular in Hong Kong and China.
From the watchmaker's workbench to the architect's drawing board, it's a case of bigger, bolder, better as brands take the industry towards an ever more spectacular future.
Can a U.S.-made silicon balance spring jumpstart the country’s watch manufacturing industry?
By presenting their latest releases actually inside the Manufacture (except Glashütte Original which located to one of Geneva's luxury hotels), Swatch Group's prestige brands were able to highlight the singularity of their watches while making clear the complexity inherent to production.
