The watch sector has its share of brands that are taking the lead on sustainable development. IWC and Oris are among them. Both were at the Watch Forum, organised by Watches and Culture, the cultural arm of the Fondation de la Haute Horlogerie, where they spoke about their experience so far, alongside the Swiss Better Gold Association.
Launched by Cartier and Kering at end 2021, the Watch & Jewellery Initiative 2030 believes that sustainability must be a collective journey. Its founders set out the Initiative’s main principles at the Watch Forum, organised by Watches and Culture.
Recently published statistics reveal a curious state of affairs: volume sales of Swiss watches are falling, but value and employment are increasing. In other words, the higher the price, the better the business.
During the crucial end-of-year period, Richemont increased sales by 6%. This is excellent news for the group, which has more than made up for the headwinds in Hong Kong that are buffeting every segment of the luxury market.
At a special meeting this February 4th, stockholders of Tiffany & Co will vote on the merger agreement with LVMH for $16.2 billion. With Bulgari and Tiffany under its belt, the French luxury giant is intent on dominating the global jewellery market.
The Race for Water teams have reached Asia, where they continue their mission – with Breguet as main sponsor – to clear the oceans of plastic waste.
An ongoing drop in volume exports, an inexplicable intervention by the competition watchdog, problems in Hong Kong, individual exhibition strategies... the face of the Swiss watch industry is changing in 2020.
The gap continues to widen between luxury watches and entry-level, resulting in a slight increase in total export value alongside a drastic decline in volume. Suppliers suffer as the sector becomes increasingly consolidated.