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
News & Analysis
Swiss Watch Exports Fall for 14th Month as Slump Spreads
Swiss watch exports fell for a 14th consecutive month in August as demand weakened from Japan to the US.
Swiss Watch Exports Fall for 14th Month as Slump Spreads
Swiss watch exports fell for a 14th consecutive month in August as demand weakened from Japan to the US.
Luxury
Cartier’s $600,000 Watch Shows Risks of Extending Luxury Brands
Cartier's retrenchment is a cautionary tale for the industry and for businesses in general – a reminder that luxury demand is ephemeral and that stretching a brand beyond its comfort zone carries considerable risk.
Cartier’s $600,000 Watch Shows Risks of Extending Luxury Brands
Cartier's retrenchment is a cautionary tale for the industry and for businesses in general – a reminder that luxury demand is ephemeral and that stretching a brand beyond its comfort zone carries considerable risk.
Luxury
Death of Apple’s $17,000 Gold Watch Leaves Swiss Rivals Smiling
Switzerland’s leading watch-makers have said that centuries of craftsmanship will not simply disappear because a technology player enters the fray.
Death of Apple’s $17,000 Gold Watch Leaves Swiss Rivals Smiling
Switzerland’s leading watch-makers have said that centuries of craftsmanship will not simply disappear because a technology player enters the fray.
Luxury
Swiss Watch Slump Extends Beyond a Year as Hong Kong Demand Ebbs
Swiss watch exports declined for a 13th consecutive month in July as Hong Kong, traditionally the biggest market for luxury timepieces, slipped to second place for the first time in almost a decade.
Swiss Watch Slump Extends Beyond a Year as Hong Kong Demand Ebbs
Swiss watch exports declined for a 13th consecutive month in July as Hong Kong, traditionally the biggest market for luxury timepieces, slipped to second place for the first time in almost a decade.
Luxury
Luxury Watch Market Sobers Up
With the luxury watch market under pressure, the shift to affordable steel models is depressing growth and retail space productivity, according to new research by Exane BNP Paribas.
Luxury Watch Market Sobers Up
With the luxury watch market under pressure, the shift to affordable steel models is depressing growth and retail space productivity, according to new research by Exane BNP Paribas.
News & Analysis
Swatch Profit Warning Places CEO Hayek Under Fire From Investors
Swatch Group chief executive officer Nick Hayek came under fire from investors for what they called unrealistic projections and a resistance to adapt to a deteriorating market, after the Swiss watchmaker reported collapsing earnings.
Swatch Profit Warning Places CEO Hayek Under Fire From Investors
Swatch Group chief executive officer Nick Hayek came under fire from investors for what they called unrealistic projections and a resistance to adapt to a deteriorating market, after the Swiss watchmaker reported collapsing earnings.
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.
News & Analysis
Swiss Watchmaker Piaget Hunts New Buyers with $9,350 Steel Watch
High-end Swiss watchmaker Piaget has unveiled an unusual new timepiece: a stainless steel-cased casual watch for under $10,000.
Swiss Watchmaker Piaget Hunts New Buyers with $9,350 Steel Watch
High-end Swiss watchmaker Piaget has unveiled an unusual new timepiece: a stainless steel-cased casual watch for under $10,000.
News & Analysis
Brexit Gives Europeans $15,000 Discount on Cartier Watch
Rich foreigners visiting the UK have the chance to buy luxury goods at a discount given the pound’s slide against the dollar, making Swiss watches cheaper than on the continent.
Brexit Gives Europeans $15,000 Discount on Cartier Watch
Rich foreigners visiting the UK have the chance to buy luxury goods at a discount given the pound’s slide against the dollar, making Swiss watches cheaper than on the continent.
News & Analysis
Swiss Watch Industry Exports Continue to Struggle in May
Switzerland's watch industry exports fell nearly 10 percent in May as watchmakers continued to struggle with the aftermath of last year's extremist attacks in Europe and a prolonged slowdown in Asia.
Swiss Watch Industry Exports Continue to Struggle in May
Switzerland's watch industry exports fell nearly 10 percent in May as watchmakers continued to struggle with the aftermath of last year's extremist attacks in Europe and a prolonged slowdown in Asia.
News & Analysis
Swatch Backpaddles on Phasing Out Watch Movement Deliveries
Swatch Group said Swiss competition authority Weko was examining if the world's biggest watchmaker could supply more mechanical movements to its customers than was set out in a 2013 agreement on phasing out deliveries.
Swatch Backpaddles on Phasing Out Watch Movement Deliveries
Swatch Group said Swiss competition authority Weko was examining if the world's biggest watchmaker could supply more mechanical movements to its customers than was set out in a 2013 agreement on phasing out deliveries.
Luxury
Will Fashion's Luxury Watch Divisions Weather the Downturn?
High-end fashion houses like Chanel and Dior have sunk billions into luxury watch divisions. Now the sector is looking shaky.
Will Fashion's Luxury Watch Divisions Weather the Downturn?
High-end fashion houses like Chanel and Dior have sunk billions into luxury watch divisions. Now the sector is looking shaky.
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.