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.
watches
Luxury
Richemont's Revenue Up 5 Percent with Unexpected Watch Rebound
The company has been struggling with the biggest downturn for the Swiss watch industry since the quartz crisis in the 1980s.
Richemont's Revenue Up 5 Percent with Unexpected Watch Rebound
The company has been struggling with the biggest downturn for the Swiss watch industry since the quartz crisis in the 1980s.
News & Analysis
$2.6 Million Worth of Fake Luxury Watches Seized in Puerto Rico
Authorities in Puerto Rico have seized $2.6 million worth of fake luxury watches they say were illegally imported from China.
$2.6 Million Worth of Fake Luxury Watches Seized in Puerto Rico
Authorities in Puerto Rico have seized $2.6 million worth of fake luxury watches they say were illegally imported from China.
China
Alibaba Sues Two Vendors Who it Says Sold Fake Watches
Alibaba Group Holding Ltd has sued two vendors it says sold fake Swarovski watches on its Taobao e-commerce platform.
Alibaba Sues Two Vendors Who it Says Sold Fake Watches
Alibaba Group Holding Ltd has sued two vendors it says sold fake Swarovski watches on its Taobao e-commerce platform.
News & Analysis
Watchmaker Swatch Goes Into Car Batteries as Investors Question Strategy
Investors called the plan expensive and unrealistic and with 2016 group sales predicted to be below last year's 8.45 billion Swiss francs ($8.36 billion).
Watchmaker Swatch Goes Into Car Batteries as Investors Question Strategy
Investors called the plan expensive and unrealistic and with 2016 group sales predicted to be below last year's 8.45 billion Swiss francs ($8.36 billion).
News & Analysis
Swiss Watch Exports Poised for Worst Year Since 1984
The value of Switzerland’s watch exports dropped 11 percent in the first 10 months of the year.
Swiss Watch Exports Poised for Worst Year Since 1984
The value of Switzerland’s watch exports dropped 11 percent in the first 10 months of the year.
Luxury
Tag Heuer CEO Say New Models Helping to Buck Downturn
Tag's new models are helping it offset the wider challenges of a downturn in the Swiss watch industry.
Tag Heuer CEO Say New Models Helping to Buck Downturn
Tag's new models are helping it offset the wider challenges of a downturn in the Swiss watch industry.
News & Analysis
Report: Swiss Watchmaker Breitling is Considering a Sale
The most likely suitors are luxury goods companies rather than private equity firms.
Report: Swiss Watchmaker Breitling is Considering a Sale
The most likely suitors are luxury goods companies rather than private equity firms.
News & Analysis
Richemont Cuts Send Shockwaves From Geneva to Mountain Valleys
Richemont’s plan to slash 210 watchmaking jobs in Switzerland is sending shockwaves from Geneva to some of the country’s remote mountain villages, the cradle of high-end watch manufacturing.
Richemont Cuts Send Shockwaves From Geneva to Mountain Valleys
Richemont’s plan to slash 210 watchmaking jobs in Switzerland is sending shockwaves from Geneva to some of the country’s remote mountain villages, the cradle of high-end watch manufacturing.
News & Analysis
Swiss Watch Exports Have Biggest Monthly Drop in Seven Years
Swiss watch exports plunged 16 percent in October, as demand weakened in almost every major market for Rolex and Omega timepieces.
Swiss Watch Exports Have Biggest Monthly Drop in Seven Years
Swiss watch exports plunged 16 percent in October, as demand weakened in almost every major market for Rolex and Omega timepieces.
News & Analysis
Richemont to Cut More Than 200 Swiss Jobs Amid Watch Woes
Richemont plans to cut more than 200 watchmaking jobs in Switzerland, according to the Unia trade union, as the jeweller scales back further in response to weakening demand.
Richemont to Cut More Than 200 Swiss Jobs Amid Watch Woes
Richemont plans to cut more than 200 watchmaking jobs in Switzerland, according to the Unia trade union, as the jeweller scales back further in response to weakening demand.
News & Analysis
Titan: The World's Fifth-Largest Watchmaker Now Wants to Sell Women's Clothing
"After 30 years of selling quartz watches and gold jewellery under brands such as Sonata, Titan, and Tanishq, the company now wants to move to
Titan: The World's Fifth-Largest Watchmaker Now Wants to Sell Women's Clothing
"After 30 years of selling quartz watches and gold jewellery under brands such as Sonata, Titan, and Tanishq, the company now wants to move to
Luxury
Brexit Boosts British Watchmaker Bremont as Swiss Suffer
Aided by a plunge in the pound, UK sales of Bremont watches have surged since the country voted in June to leave the European Union.
Brexit Boosts British Watchmaker Bremont as Swiss Suffer
Aided by a plunge in the pound, UK sales of Bremont watches have surged since the country voted in June to leave the European Union.
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.