French payments company Ingenico has signed a deal with LVMH-owned Spanish luxury retailer Loewe to provide iPhone-based payment services for its network of 160 stores around the world, Ingenico said on Wednesday.
Apple's iPod upended the music industry, and its iPhone knocked Nokia off its smartphone perch, but Swiss watch makers breezily dismissed warnings that the technology giant's new wristwatch gadget could do something similar to them.
Apple's management is consistent, at least. After recruiting from among world leaders in luxury, it has now enlisted the expertize of designer Marc Newson, who has previously worked for G-Star, among others.
Swatch Group is happy to go it alone with a launch next year of watches with "smart" features to compete with so-called wearable gadgets from the big tech companies, a market potentially worth $93 billion.
French luxury goods group Kering said on Wednesday it had agreed to buy Swiss watch maker Ulysse Nardin as it posted mixed first-half results that revealed an unexpected drop in sales at its flagship brand Gucci.
Swatch Group said the strong Swiss franc and expenses for the Olympics weighed on net profit in the first half but it expected a positive second half of the year on good demand in the United States and Japan.