×
67 557
Fashion Jobs
ESTEE LAUDER
Keyholder - Cosmetics Company Store - 40 Hours - Camarillo Premium Outlets - Camarillo, ca
Permanent · Camarillo
MACY'S
Asset Protection Detective, Fayette Mall - Full Time
Permanent · Lexington
NORDSTROM
Area sc Manager 2
Permanent · San Bernardino
NORDSTROM
Assistant Manager- Operations- King of Prussia
Permanent · King of Prussia
NORDSTROM
Inventory Control Specialist - 1st Shift (Sun-Thurs) - Newark, ca
Permanent · Newark
NORDSTROM
Assistant Manager - Operations - Keystone
Permanent · Indianapolis
NORDSTROM
Business Analyst 2 - Store Operations
Permanent · Seattle
NORDSTROM
Assistant Manager - Asset Protection - Washington Square
Permanent · Tigard
NORDSTROM
Business Process Improvement Manager
Permanent · Seattle
NORDSTROM
Asset Protection - Agent - Heartland Town Center Rack
Permanent · Mississauga
NORDSTROM
HR Business Partner, Supply Chain – San Bernardino Fulfillment Center – Hybrid
Permanent · San Bernardino
NORDSTROM
Senior Project Manager, Nmg Brand Programs - Data, Insight And Analytics
Permanent · Seattle
NORDSTROM
sr. Manager of Marketing -Gift Card- Remote
Permanent · Seattle
NORDSTROM
Overnight Asset Protection - Security Ambassador - Houston Galleria
Permanent · Houston
NORDSTROM
Asset Protection - Security Ambassador - Broadway Plaza in Walnut Creek
Permanent · Walnut Creek
NORDSTROM
District Manager - Asset Protection - Minnesota, Wisconsin
Permanent · Bloomington
NORDSTROM
Area Manager - Asset Protection - San Jose Area Racks
Permanent · San Jose
NORDSTROM
Senior Project Manager, Merchandising Transformation - Hybrid
Permanent · Seattle
NORDSTROM
Asset Protection - Agent - San Leandro Rack
Permanent · San Leandro
NORDSTROM
Assistant Manager - Women's / bp / Salon Shoes - Grove at Farmer's Market
Permanent · Los Angeles
NORDSTROM
Project Manager 2, Merchandising Transformation - Hybrid
Permanent · Seattle
NORDSTROM
Assistant General Manager- Ruscello- Oakbrook Center
Permanent · Oak Brook
By
Reuters
Published
Aug 26, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Richemont's IWC outpacing watch market

By
Reuters
Published
Aug 26, 2009

ZURICH, Aug 26 (Reuters) - Swiss watchmaker IWC, part of Swiss luxury goods group Richemont (CFR.VX), has outperformed July's 26 percent drop in Swiss watch exports on robust demand in Asia, the group's head was quoted as saying on Wednesday 26 August.

IWC
IWC Aquatimer collection 2009 - Photo: www.iwc.com

"China and the most important markets Hong Kong and Macau are proving to be robust for us and are developing better than we had feared a few months ago," IWC Chief Executive Georges Kern was quoted as saying in an interview with Swiss newspaper HandelsZeitung.

Business was going "incredibly well" in the UK and appetite for its timepieces was relatively strong in Germany and France, but there had been a significant drop in Spain, Kern said.

Switzerland's watch industry is experiencing its strongest drop in demand in around twenty years as consumers have cut back on treating themselves to luxury goods, but there are some signs that demand is starting to pick up again.

"Retailers ran down stock levels in the first half of the year. Now we are hoping for an improvement. We remain cautious and don't see any reason for euphoria. But the first signs of at least a stabilisation are there," Kern said.

"We hope to emerge from the crisis only slightly bruised," he said.

IWC, which sits alongside brands like Vacheron Constantin and Cartier at Richemont, is investing in China and India.

"By 2020, there will be 350 million people in China who are in the position to buy a luxury watch," Kern said.

Richemont, controlled by South Africa's Rupert family, is the world's third-largest luxury goods group behind LVMH (LVMH.PA) and Hermes (HRMS.PA).

The group is searching for a new chief executive after Norbert Platt said he would step down at the end of this year.

Kern said he did not want to comment on rumours that he could succeed Platt, saying only that he was happy at IWC.

(Reporting by Katie Reid; Editing by Erica Billingham)

© Thomson Reuters 2022 All rights reserved.