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At five points in the past 500 million years, life on Earth was almost completely wiped out. We are now on the brink of a sixth mass extinction, and we are the cause. Can humans right their wrongs? The luxury industry must lead by example.
An influx of capital ends a year marked by a boom in sales at auction and on the pre-owned market as watches take on a new role as investment products.
For certain brands, growth isn't about selling more but selling better. Audemars Piguet was first to put a limit on production, successfully so. Now Roger Dubuis and Panerai are following suit.
Bucherer's newly-opened Gallery in Geneva is entirely focused on pre-owned watches. As well as buying and selling, this lounge space will host events aimed at renewing the purchasing experience for a new generation of watch enthusiasts, through a concept Bucherer plans to roll out to other locations.
Dietlin Swiss Showcases has made its name in the luxury segment thanks to its revolutionary display cases. The 165-year-old company, which employs 15 people, is bringing the staid world of watch distribution into the twenty-first century – at last!
The now traditional Bain & Company study, in collaboration with Fondazione Altagamma, forecasts global growth in the luxury market of 4% to 6% this year, to reach between €271 and 276 billion.
Luxury firms continue to perform well, as demonstrated by their first-half results. The situation is slightly more complex for watch brands, in particular in Hong Kong and China.
Cobots – collaborative robots – are the latest craze in industry, and the watchmaking sector has still to warm to the idea of data collection. These are the two main takeaways from the 18th EPHJ fair.
