Luxury goods group Richemont struck a cautious note after reporting sales numbers hurt by moves to combat the grey market and efforts by the Chinese government to discourage consumers from spending overseas.
Swiss watchmaker Patek Philippe is seeing good demand across the world, its president told Reuters on Thursday, playing down industry concerns about a potential slowdown in top luxury goods buyer China.
Swiss watch brand Tissot, the official watch and timekeeper of the National Basketball Association, has announced a new partnership NBA teams the Chicago Bulls and Washington Wizards for the 2018-19 season.
Luxury goods group LVMH’s watch brands will be present at the next edition of the Baselworld watch fair in March, the outgoing head of its watch division told CNN Money Switzerland, adding the show needs to make changes.
Watch brands Audemars Piguet and Richard Mille will withdraw from the Geneva watch fair from 2020 to focus on selling directly to consumers rather than via third-party retailers they would meet at the show.
Swiss competition authority WEKO said on Tuesday it has declined to open a formal investigation into watchmakers including Swatch, LVMH and Richemont over the supply of spare parts for independent watch repair shops.
Swiss watchmaker Swatch Group is quitting the annual Baselworld watch and jewellery trade fair, said a report on Sunday, calling time on an event that has been a fixture of the luxury industry calendar for a century.