
The Swiss watchmaker announced its first annual loss since starting business almost 40 years ago on Thursday, as the coronavirus pandemic continues to negatively affect demand in the luxury sector.
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The Swiss watchmaker announced its first annual loss since starting business almost 40 years ago on Thursday, as the coronavirus pandemic continues to negatively affect demand in the luxury sector.
CEO of Louis Vuitton Japan David Ponzo has been catapulted to the role of EVP for global commercial activities at LVMH's flagship brand, succeeding Anthony Ledru, who has taken over as head of Tiffany & Co.
The luxury goods industry was expanding healthily before the pandemic hit, but while sales were strong, a select group of luxury giants dominated the sector overall.
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Farfetch is rarely out of the news these days and it’s currently making headlines with its Q3 results. It's still loss-making, but appears to be riding the wave of the "paradigm shift in favour of online luxury".
Swiss watch brand Frederique Constant, owned by Japan's Citizen Watch Co, is hoping to limit the fall in sales to 25% this year as September business was almost back to normal, its chief executive told Reuters.
Swiss watchmaker Maurice de Mauriac is confident it can find a new supplier for watch mechanisms to maintain production as it battles an industry-wide drop in demand due to the Covid-19 pandemic.
Movado has entered into a license agreement with Calvin Klein Inc., for the design, product development, distribution and marketing of Swiss made timepieces and jewelry.
Swatch Group will be free to supply mechanical watch movements wherever it wants, but won’t be allowed to abuse its dominant market position by undercutting rivals’ prices, a Swiss competition watchdog said on Wednesday.
Swatch, the world's top watch company, said Tuesday its sales were nearly halved in the first half of the year due to coronavirus lockdowns, but that it has already returned to profitable operations.