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.
Biel, Switzerland
Global Markets
Swatch Group Braces for Hong Kong Slump
The Swiss watchmaker's sales took a hit, dropping 2.7 percent amid ongoing political unrest in Hong Kong.
Swatch Group Braces for Hong Kong Slump
The Swiss watchmaker's sales took a hit, dropping 2.7 percent amid ongoing political unrest in Hong Kong.
News & Analysis
Swatch Confirms Permanent Withdrawal from Baselworld Watch Fair
As watchmakers increasingly rely on their own distribution networks, the industry's largest annual conference runs the risk of becoming obsolete.
Swatch Confirms Permanent Withdrawal from Baselworld Watch Fair
As watchmakers increasingly rely on their own distribution networks, the industry's largest annual conference runs the risk of becoming obsolete.
News & Analysis
Swatch Sees Weakening Demand in the Critical Chinese Market
The results will likely spark concern that the watch rebound is fading.
Swatch Sees Weakening Demand in the Critical Chinese Market
The results will likely spark concern that the watch rebound is fading.
Financial Markets
Swatch Reports Highest Profit in Three Years Amid Watch Rebound
Operating income rose 70 percent in the first half to 629 million francs ($628 million).
Swatch Reports Highest Profit in Three Years Amid Watch Rebound
Operating income rose 70 percent in the first half to 629 million francs ($628 million).
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News & Analysis
Swatch CEO Says Sales Growth to Accelerate Through Year End
As the Swiss watch industry rebounds from the longest slump since the quartz crisis, wholesalers are no longer holding back on orders to stock up again, Nick Hayek said.
Swatch CEO Says Sales Growth to Accelerate Through Year End
As the Swiss watch industry rebounds from the longest slump since the quartz crisis, wholesalers are no longer holding back on orders to stock up again, Nick Hayek said.
News & Analysis
Swatch Shares Drop on Concern New Apple Watch May Be Bigger Hit
Swatch shares dropped as low as 377.3 francs after Apple unveiled its Series 3 watch that can make calls and receive messages without a mobile phone.
Swatch Shares Drop on Concern New Apple Watch May Be Bigger Hit
Swatch shares dropped as low as 377.3 francs after Apple unveiled its Series 3 watch that can make calls and receive messages without a mobile phone.
News & Analysis
Swatch's Strong Forecast Bolsters Decision to Keep Workers
A rebound in Swiss watch sales exonerates Swatch Group CEO who refused to cut his skilled work force when profits were declining.
Swatch's Strong Forecast Bolsters Decision to Keep Workers
A rebound in Swiss watch sales exonerates Swatch Group CEO who refused to cut his skilled work force when profits were declining.
News & Analysis
Swatch First-Half Profit Slumps as Much as 60 Percent
Swatch Group, the maker of Omega and Tissot timepieces, said first-half profit fell about 50 percent to 60 percent on weak demand in Asia and Europe and the strength of the Swiss franc.
Swatch First-Half Profit Slumps as Much as 60 Percent
Swatch Group, the maker of Omega and Tissot timepieces, said first-half profit fell about 50 percent to 60 percent on weak demand in Asia and Europe and the strength of the Swiss franc.
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News & Analysis
Tissot Smartwatch Joins Swatch Lineup in Battle Against Apple
Swatch Group AG plans to introduce three smartwatches this year, as the Swiss company jostles with Apple Inc. and TAG Heuer in the market for wearable devices that do more than tell time.
Tissot Smartwatch Joins Swatch Lineup in Battle Against Apple
Swatch Group AG plans to introduce three smartwatches this year, as the Swiss company jostles with Apple Inc. and TAG Heuer in the market for wearable devices that do more than tell time.
Financial Markets
Swatch Earnings Miss Estimates On Hong Kong, Strong Franc
Swatch Group AG reported 2015 earnings that missed analyst estimates as sales declined for the first time in six years, hurt by slumping demand in Hong Kong and the strength of the Swiss franc.
Swatch Earnings Miss Estimates On Hong Kong, Strong Franc
Swatch Group AG reported 2015 earnings that missed analyst estimates as sales declined for the first time in six years, hurt by slumping demand in Hong Kong and the strength of the Swiss franc.
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.