
Switzerland on Friday adopted the EU's sanctions on exporting luxury goods to Russia imposed over the Kremlin's war in Ukraine, acknowledging that some Swiss companies could be badly hit.
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Switzerland on Friday adopted the EU's sanctions on exporting luxury goods to Russia imposed over the Kremlin's war in Ukraine, acknowledging that some Swiss companies could be badly hit.
On Friday, the owner of Longines, Omega and Tissot announced it is halting exports to Russia, in the wake of the sanctions imposed following the invasion of Ukraine, although the group’s Russian stores remain open.
Building on its “long-term commitment to ensure more sustainable and circular practices”, Net-A-Porter and Mr Porter have entered the pre-owned luxury watches market with Watchfinder & Co for the US market.
Swiss watchmaker Swatch Group said Thursday profits dwindled last year as sales in one of its biggest markets Hong Kong took a beating amid months of sometimes violent pro democracy protests.
Swatch Group shares surged 5% after mid-year results on Wednesday in which the watchmaker issued a positive outlook regarding its biggest markets and reported progress in curbing grey market sales.
Swatch Group said business slowed in the last three months of 2018 hit by a downturn in Asia and weak sales in France, leading it to post lower-than-expected results for the full year.
Bertrand Delvert, vice president of marketing and communication at Tissot International, succeeds Florence Ollivier-Lamarque as director of the Swatch Group’s French subsidiary, effective from January 1.
Swatch Group will host an event for watch retailers from March 19 to 26 next year, just ahead of the Baselworld watch fair it recently dropped out of, according to an invitation seen by Reuters on Tuesday.
Swiss watchmaker Swatch Group is quitting the annual Baselworld watch and jewellery trade fair, said a report on Sunday, calling time on an event that has been a fixture of the luxury industry calendar for a century.
Swatch, the world's top watchmaker, on Wednesday announced an all-time record in half-year sales, saying it has millennials to thank for bringing wristwatches back.