Puig Announces New CEO
xxxJose Manuel Albesa will succeed Marc Puig, becoming the first non-family member to lead the Spanish conglomerate in more than 20 years.
watches
Financial Markets
Swatch to Start Selling Mobile Payment Watch in US in 2016
Swatch Group AG plans to start selling a timepiece that can make contactless payments in the US, Switzerland and Brazil early next year through an agreement with Visa Inc.
Swatch to Start Selling Mobile Payment Watch in US in 2016
Swatch Group AG plans to start selling a timepiece that can make contactless payments in the US, Switzerland and Brazil early next year through an agreement with Visa Inc.
Luxury
Watch Brands Find Growth in the Women's Market
As the global demand for timepieces slows, companies are eager to draw from the relatively untapped well that is the ladies watch segment.
Watch Brands Find Growth in the Women's Market
As the global demand for timepieces slows, companies are eager to draw from the relatively untapped well that is the ladies watch segment.
Technology
Fossil to Buy Wearable Maker Misfit for $260 Million
Fossil agreed to acquire Misfit, a maker of wearable devices, for $260 million to shore up its technology as it pushes into smartwatches.
Fossil to Buy Wearable Maker Misfit for $260 Million
Fossil agreed to acquire Misfit, a maker of wearable devices, for $260 million to shore up its technology as it pushes into smartwatches.
Technology
Tag Heuer Launches Smartwatch Co-Developed with Google and Intel
LVMH's Tag Heuer has become the first Swiss watchmaker to offer a "smartwatch" to customers, as it seeks to tap a growing market for wearable devices amid flagging sales of traditional watches.
Tag Heuer Launches Smartwatch Co-Developed with Google and Intel
LVMH's Tag Heuer has become the first Swiss watchmaker to offer a "smartwatch" to customers, as it seeks to tap a growing market for wearable devices amid flagging sales of traditional watches.
News & Analysis
Swatch CEO Sees 2016 Swiss Launch for Pay Watch
Swatch Group expects to launch a smartwatch that can be used to make payments in Switzerland next spring, chief executive Nick Hayek said in an interview.
Swatch CEO Sees 2016 Swiss Launch for Pay Watch
Swatch Group expects to launch a smartwatch that can be used to make payments in Switzerland next spring, chief executive Nick Hayek said in an interview.
News & Analysis
Swatch CEO Hayek Says Full-Year Sales May Be Near Last Year’s
Swatch Group AG chief executive officer Nick Hayek said full-year sales may be near last year’s level as the strong franc weighs on exports of Swiss watchmakers.
Swatch CEO Hayek Says Full-Year Sales May Be Near Last Year’s
Swatch Group AG chief executive officer Nick Hayek said full-year sales may be near last year’s level as the strong franc weighs on exports of Swiss watchmakers.
Technology
Swiss Watch Exports Have Biggest Quarterly Decline Since 2009
Swiss watch exports had their biggest quarterly decline since 2009, as the industry struggles with the strong franc and concern that competition from Apple Inc.’s smartwatch may be denting demand for low-end timepieces.
Swiss Watch Exports Have Biggest Quarterly Decline Since 2009
Swiss watch exports had their biggest quarterly decline since 2009, as the industry struggles with the strong franc and concern that competition from Apple Inc.’s smartwatch may be denting demand for low-end timepieces.
News & Analysis
James Bond’s Favourite Watch Tackles $6,000 Mission: Millennials
Omega is putting more than 140 million Swiss francs ($146 million) of James Bond watches up for sale this year, based on the number being sold and their recommended retail price.
James Bond’s Favourite Watch Tackles $6,000 Mission: Millennials
Omega is putting more than 140 million Swiss francs ($146 million) of James Bond watches up for sale this year, based on the number being sold and their recommended retail price.
China
Swatch Links With China Bank Giants for Payment Watch
Swatch Group AG is linking up with China Unionpay and Bank of Communications to sell a watch that can be used to make payments.
Swatch Links With China Bank Giants for Payment Watch
Swatch Group AG is linking up with China Unionpay and Bank of Communications to sell a watch that can be used to make payments.
News & Analysis
Swatch Group’s Tissot Becomes First Official NBA Timekeeper
Tissot SA will become the first official timekeeper of the National Basketball Association in a six-year sponsorship valued at $200 million, according to a person familiar with terms of the deal.
Swatch Group’s Tissot Becomes First Official NBA Timekeeper
Tissot SA will become the first official timekeeper of the National Basketball Association in a six-year sponsorship valued at $200 million, according to a person familiar with terms of the deal.
News & Analysis
Sotheby’s to Sell Rare Swatch Collection in Geneva Auction
Sotheby’s will sell a collection of almost 1,000 Swatch timepieces dating back to the early days of the brand in the 1980s.
Sotheby’s to Sell Rare Swatch Collection in Geneva Auction
Sotheby’s will sell a collection of almost 1,000 Swatch timepieces dating back to the early days of the brand in the 1980s.
China
LVMH’s Biver Sees Tougher 2016 for Swiss Watch Industry
LVMH watch chief Jean-Claude Biver said 2016 is set to be a tougher year for the Swiss watch industry because of the economic slowdown in China.
LVMH’s Biver Sees Tougher 2016 for Swiss Watch Industry
LVMH watch chief Jean-Claude Biver said 2016 is set to be a tougher year for the Swiss watch industry because of the economic slowdown in China.
The News in Brief
Spandex Maker Lycra Files for Bankruptcy After Years of Stress
The company has been hampered with disruptions to supply chains, elevated inflation, growing competition from low-cost manufacturers and trade tariffs.
US SEC Preparing to Eliminate Quarterly Reporting Requirement, WSJ Says
The proposal would give companies the option to share results twice a year.
Kering Unveils New Jewellery Unit, Merges Fashion Brand Reporting
Kering’s newly created jewellery division regroups Boucheron, Pomellato, Dodo and Qeelin brands as the company aims to pool resources. The conglomerate is also regrouping fashion brand reporting, shielding smaller labels from investor scrutiny.
Bondholders Approve Saks Global’s Five-Year Business Plan
Saks is moving towards exiting bankruptcy and tapped an additional $300 million of its Chapter 11 financing package.
Luxury Stocks Face Most Bearish Sentiment in Years, UBS Says
War in the Middle East, the luxury industry’s fastest-growing market, threatens to delay a long-expected rebound in demand.
Trump Signs Order to Combat Fraudulent ‘Made in America’ Labels, White House Says
The executive order directs the FTC chairman to prioritise enforcement of existing laws against sellers and manufacturers who falsely claim products are made in America.
Lanvin Deputy CEO Siddhartha Shukla Exits Brand
Owner Lanvin Group said it is ‘fully committed’ to the French label’s development under creative director Peter Copping, with CEO Andy Lew in charge of management.