Giorgio Armani Posts 24% Profit Drop in Tough 2024, Steps Up Investments
The Milanese group was hit by declining revenues and a slight increase in operating costs but said it retained a long-term approach amid a sharp downturn in luxury demand.
luxury / Watches
Swiss Watchmakers Battle for Their Future
The sector is facing double-digit sales declines and a crisis of relevance. ‘A watch has become a cultural object of sophistication… but culture has to constantly reinvent, otherwise it can disappear,’ said former Cartier boss Cyrille Vigneron.
Is the Secondary Watch Market Turning a Corner?
After three years of declines, prices of pre-owned watches appear to have bottomed out.
How to Revive a Sleeping Beauty Watch Brand
A group of investors is reviving has 'resurrected' the Danish watch company Urban Jürgensen, a 250-year-old name revered by connoisseurs but largely unknown outside that bubble.
Can Swiss Watches Compete on Value?
The price of Swiss watches has continued to rise, leaving watchmakers battling to bolster their value propositions amid a downturn in luxury spending.
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Behind-the-Scenes at Watches and Wonders Geneva
CEOs of the Geneva watch fair’s organising foundation, LVMH’s watchmaking division, Piaget and Breitling sound off on the latest edition. Bulgari has entered the fold, but Breitling, Audemars Piguet and Swatch continued to snub the expo.
How Rolex Makes a New Watch
Inside the painstaking design and development of the brand’s new Oyster Perpetual Land-Dweller.
Luxury
Can Breitling Revitalise Watchmaking’s Troubled Middle Market?
The Swiss brand revealed a new collection fronted by Austin Butler and priced from $5,600 — considered a competitive price point for watches with in-house mechanical movements — as well as relaunching the Gallet brand with watches to be priced from $3,300. The moves defy the industry’s recent focus on top-end launches.
Can Breitling Revitalise Watchmaking’s Troubled Middle Market?
The Swiss brand revealed a new collection fronted by Austin Butler and priced from $5,600 — considered a competitive price point for watches with in-house mechanical movements — as well as relaunching the Gallet brand with watches to be priced from $3,300. The moves defy the industry’s recent focus on top-end launches.
Luxury
Richard Mille and Ferrari Bucked Luxury’s Slowdown. Now They’re Releasing a $1.5 Million Watch
Swiss watchmaker Richard Mille is renewing its deal with Ferrari and its F1 team. Limited quantities and savvy marketing plays have helped the brand build a $1.7 billion business—and steer clear of a downturn plaguing the luxury watch sector.
Richard Mille and Ferrari Bucked Luxury’s Slowdown. Now They’re Releasing a $1.5 Million Watch
Swiss watchmaker Richard Mille is renewing its deal with Ferrari and its F1 team. Limited quantities and savvy marketing plays have helped the brand build a $1.7 billion business—and steer clear of a downturn plaguing the luxury watch sector.
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Vanguart: How an Eight-Year-Old Startup Sells $200,000 Watches
Scarcity, innovation and the right investors have allowed Vanguart, Biver and more build top-end watchmaking businesses from scratch.
At Watches of Switzerland, Rolex Demand Is Fuelling Retail Expansion
As the watch industry braces for US tariffs, Watches of Switzerland is opening one of Europe’s largest Rolex boutiques in London in a bet that demand will remain resilient.
Partner Content
How Vacheron Constantin Is Engaging the Next Generation in Abu Dhabi
As the luxury watch brand celebrated its 270th anniversary, BoF’s Nick Blunden moderated a panel featuring Vacheron Constantin’s heritage and style director Christian Selmoni, author and artist Alia Al Shamsi, and editor of The National’s Luxury Magazine Nasri Atallah, to unpack how heritage brands can resonate authentically in the UAE.
How Vacheron Constantin Is Engaging the Next Generation in Abu Dhabi
As the luxury watch brand celebrated its 270th anniversary, BoF’s Nick Blunden moderated a panel featuring Vacheron Constantin’s heritage and style director Christian Selmoni, author and artist Alia Al Shamsi, and editor of The National’s Luxury Magazine Nasri Atallah, to unpack how heritage brands can resonate authentically in the UAE.
Can Formula 1 Keep TAG Heuer in the Fast Lane?
The LVMH-owned brand plans to spend nearly 20 percent of sales on marketing this year, new CEO Antoine Pin says, doubling down on partnerships in the fast-expanding world of F1 racing in an effort to keep up growth in a sluggish watch market.
The News in Brief
E-Commerce Firm Jumia Draws Takeover Interest From Axian
A deal between the biggest e-commerce platform in Africa and telecommunications company Axian would help both company expand across the continent.
Billionaire H&M Founding Family Speeds Up Share Purchases
The Persson family and its related companies owned over 60 percent of H&M's shares at the end of May, prompting speculation the company may return to private ownership.
Kate Moss’ Cosmoss Enters Liquidation
The prestige skincare and wellness line founded by the British supermodel entered liquidation proceedings after failing to file its company accounts.
Vivienne Westwood and Rei Kawakubo Paired for Blockbuster Exhibition
The two era-defining avant-garde fashion designers will be the subject of a major exhibition at the National Gallery of Victoria in Australia.
Exclusive: Smythson of Bond Street Acquired by Oakley Capital
The British luxury lifestyle brand, known for its leather handbags, notebooks, homeware and other accessories, will look to accelerate its growth and expand internationally.
L’Oréal to Acquire Hair Care Brand Color Wow
Hair care was the second fastest-growing category at L’Oréal last year after fragrances.
Bold Management Acquires Influencer Agency The Digital Prototype
The deal bolsters Bold’s talent management capabilities in France.