Swiss watchmakers Audemars Piguet and Richard Mille are snapping up stakes in their franchised shops, seeking to tighten their grip on the sales network as a growing number of top brands ditch wholesalers.
Swiss watchmakers are starting to see signs of slowing spending from Chinese tourists, but are still banking on demand shifting to mainland China to fuel growth this year, several high-end brands said on Monday.
The £10 million transformation of Bond Street’s streetscape has officially been completed while £50 million has also been invested on Bond Street in the past 18 months through store openings and refurbs.
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.
French luxury conglomerate LVMH on Friday named Stephane Bianchi, the former head of Yves Rocher, to run its watch business after divisional boss Jean-Claude Biver relinquished his operational responsibilities.