×
69 730
Fashion Jobs
PACSUN
Loss Prevention Administrator (1st Shift)
Permanent · Groveport
RAG & BONE
Project Manager, Visual Services
Permanent · New York
THE REALREAL
Senior Manager, Operations Strategy And Program Management
Permanent · San Francisco
THE REALREAL
Assistant Retail Sales Manager (Resales Manager)
Permanent · West Hollywood
THE REALREAL
Account Luxury Manager (Sales Account Manager)
Permanent · New York
THE REALREAL
Inside Sales Account Manager (Luxury Account Specialist)
Permanent · San Francisco
THE REALREAL
Sales Account Manager (Account Luxury Manager)
Permanent · Redwood City
THE REALREAL
Sales Account Manager (Account Luxury Manager)
Permanent · San Francisco
CENTRIC BRANDS
Account Executive
Permanent · New York
CENTRIC BRANDS
Manager, E-Commerce Analytics
Permanent · Los Angeles
L'OREAL GROUP
Packaging Operator - 3rd Shift
Permanent · Florence
NEW BALANCE
Loss Prevention Officer Iii
Permanent · Lebanon
BATH & BODY WORKS
Senior Financial Analyst, Treasury
Permanent · COLUMBUS
BATH & BODY WORKS
Merchandise Planner
Permanent · REYNOLDSBURG
BATH & BODY WORKS
Human Resources Manager
Permanent · COLUMBUS
BATH & BODY WORKS
Regional Asset Protection Manager - Las Vegas, nv
Permanent · LAS VEGAS
BATH & BODY WORKS
Regional Asset Protection Manager - Columbus, oh
Permanent · COLUMBUS
BATH & BODY WORKS
District Manager - Nashville, tn
Permanent · HENDERSONVILLE
OLD NAVY
General Manager - The Sands
Permanent · OCEANSIDE
OLD NAVY
Asset Protection Coordinator - Oakland Area
Permanent · CONCORD
OLD NAVY
Asset Protection Coordinator - Jamaica Center
Permanent · NEW YORK
OLD NAVY
Asset Protection Coordinator - Jackson Heights
Permanent · NEW YORK
By
Reuters
Published
Sep 7, 2020
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Kering Swiss watch brands cut staff by 25% after pandemic hits sales

By
Reuters
Published
Sep 7, 2020

Kering-owned Swiss watch brands Ulysse Nardin and Girard-Perregaux said on Monday they were cutting about 100 jobs, or a quarter of their total workforce, after sales were hit by the coronavirus crisis.


Photo: Ulysse Nardin



The Swiss watch industry has seen demand collapse during the pandemic as stores around the world stayed closed for months and Chinese tourists no longer flocked to luxury shopping hubs like Paris.

"The sudden sales downturn caused by the pandemic, and thereafter, the watch sector's timid recovery, have led to the decision to scale down these manufacturing capabilities," the two brands said in a statement.

Patrick Pruniaux, CEO of the two brands since 2018, said the economic repercussions of the pandemic were “likely to have a ripple effect over the next several years.”

French luxury group Kering’s Swiss watch brands were among those at Geneva Watch Days 10 days ago to try to revitalize demand, but executives at the trade fair said they feared jobs would be lost, in particular at suppliers.

Kering said in its half-year report in July that Ulysse Nardin and Girard-Perregaux, acquired in 2014 and 2011 respectively, were in “in-depth transformation processes” after operating in a fragile market environment for years.

The two brands’ sales contracted sharply and their losses worsened in the first half of 2020, leading Kering to book asset impairment losses of 201 million euros ($238 million) for the watch brands and fashion label Brioni.

© Thomson Reuters 2023 All rights reserved.