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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.
Alongside the industrial manoeuvring that is gaining speed in the sector, watch companies are fighting for a tougher Swiss Made.
A sizeable chunk of Swatch Group's planned investment - some CHF 150 million (USD 167 million / EUR 124 million) - will be earmarked for a major property development on its historic site in Biel, in the canton of Bern, that will give Omega and Swatch extended and renovated headquarters.
Brazil is on a fast-track to growth, and watchmakers are impatiently looking out for the least sign of an opening in this still to be conquered market. Some even claim that with lower import duties, sales of timepieces there could outstrip those in the United States.
More and more watchmakers are committing to an ethically and socially responsible gold and diamond supply chain, with brands in the Richemont portfolio leading the way. This is the objective of the Responsible Jewellery Council, which presented its activities at the 2012 Salon International de la Haute Horlogerie.
The official announcement back in early December sent the world of high-end watches in Paris into a spin. The competition was about to get tough in the City of Light. The Richemont Group, which owns Cartier, had acquired 2,250 sq m (24,000 sq ft) premises on Boulevard des Capucines, next to the Garnier Opera and minutes from the world-renowned Place Vendôme.
