De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
Basel, Switzerland
Luxury
The Art Basel Vibe Shift
While sales at this year’s fair were uneven, newer players, platforms and art forms offered cause for optimism in a stagnant sector, writes Marc Spiegler.
The Art Basel Vibe Shift
While sales at this year’s fair were uneven, newer players, platforms and art forms offered cause for optimism in a stagnant sector, writes Marc Spiegler.
Luxury
Dealers at Art Basel Sidestep Politics, Reap Rewards
The fair featured mostly safe, apolitical works, which appeared to play to the mood of buyers.
Dealers at Art Basel Sidestep Politics, Reap Rewards
The fair featured mostly safe, apolitical works, which appeared to play to the mood of buyers.
Luxury
Can Baselworld Catch Up With the Times?
The watch industry's biggest trade fair is promising an overhaul as attendance plummets. But as brands rely more on direct sales, some question the need for an annual gathering at all.
Can Baselworld Catch Up With the Times?
The watch industry's biggest trade fair is promising an overhaul as attendance plummets. But as brands rely more on direct sales, some question the need for an annual gathering at all.
Luxury
Swiss Watchmakers Say Slowing Growth in China Won't Hurt Sales
Swiss watchmakers are confident they can grow sales this year even in the face of a cooling Chinese economy thanks to strengthening demand elsewhere, executives told Reuters at an industry fair on Thursday.
Swiss Watchmakers Say Slowing Growth in China Won't Hurt Sales
Swiss watchmakers are confident they can grow sales this year even in the face of a cooling Chinese economy thanks to strengthening demand elsewhere, executives told Reuters at an industry fair on Thursday.
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Luxury
Millennials Love Gucci and Louis Vuitton
Eighteen to 35 year olds contributed 85 percent of luxury growth last year, finds a new report by UBS.
Millennials Love Gucci and Louis Vuitton
Eighteen to 35 year olds contributed 85 percent of luxury growth last year, finds a new report by UBS.
News & Analysis
As Trade War Looms, Duty-Free Retailer Dufry Sees Opportunities
The world’s largest duty-free seller would gain amid new tariffs.
As Trade War Looms, Duty-Free Retailer Dufry Sees Opportunities
The world’s largest duty-free seller would gain amid new tariffs.
Sustainability
Why the Jewellery Industry Should Engage with the UN Sustainable Development Goals
How can the jewellery industry engage with the UN’s 17 Sustainable Development Goals? BoF hosted a panel discussion in partnership with Chopard to investigate, featuring Cherie Blair, the UN’s Lene Wendland and Phillipe Fornier, general secretary of the Swiss Better Gold Association, among other esteemed peers.
Why the Jewellery Industry Should Engage with the UN Sustainable Development Goals
How can the jewellery industry engage with the UN’s 17 Sustainable Development Goals? BoF hosted a panel discussion in partnership with Chopard to investigate, featuring Cherie Blair, the UN’s Lene Wendland and Phillipe Fornier, general secretary of the Swiss Better Gold Association, among other esteemed peers.
Luxury
Luxury Watchmakers Step Up E-Commerce Investment
Courting younger shoppers, brands are joining an online push sweeping the luxury goods world, where web sales are already major growth drivers for fashion labels.
Luxury Watchmakers Step Up E-Commerce Investment
Courting younger shoppers, brands are joining an online push sweeping the luxury goods world, where web sales are already major growth drivers for fashion labels.
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News & Analysis
Jean-Claude Biver: ‘The Watch Industry Is Not in Trouble, The World Is.’
The president of LVMH’s watch division has always been a disruptor. But with the Tag Heuer Connected watch, has he got the solution to a Swiss watch industry in decline?
Jean-Claude Biver: ‘The Watch Industry Is Not in Trouble, The World Is.’
The president of LVMH’s watch division has always been a disruptor. But with the Tag Heuer Connected watch, has he got the solution to a Swiss watch industry in decline?
Global Markets
Swiss Watchmakers Face Another Challenging Year
Swiss watchmakers are braced for another difficult year as economic woes in major markets curb consumers' appetite for pricey timepieces, industry executives said on Thursday.
Swiss Watchmakers Face Another Challenging Year
Swiss watchmakers are braced for another difficult year as economic woes in major markets curb consumers' appetite for pricey timepieces, industry executives said on Thursday.
Marketing
Distress in the $80 Billion Diamond Market
Plunging diamond prices are causing hardship for people throughout the global supply chain from big mining operators in Africa, Russia and Canada to small-scale cutters and traders across Europe and Asia.
Distress in the $80 Billion Diamond Market
Plunging diamond prices are causing hardship for people throughout the global supply chain from big mining operators in Africa, Russia and Canada to small-scale cutters and traders across Europe and Asia.
News & Analysis
LVMH’s Hublot Likely Next to Add Smart Functions
Hublot will probably be the next LVMH watch brand to add smart functions, following TAG Heuer’s footsteps, according to LVMH's watch chief.
LVMH’s Hublot Likely Next to Add Smart Functions
Hublot will probably be the next LVMH watch brand to add smart functions, following TAG Heuer’s footsteps, according to LVMH's watch chief.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.