1,129 articles · 4,330 videos found · page 4 of 182
Revolution
In just a matter of weeks, nay, days, the Baselworld Group faces another shock exit by the brands under the LVMH Group - TAG Heuer, Hublot, Zenith and the House of Bvlgari.
SJX Watches
Just before the new year, Swiss competition regulator COMCO, also known by its German acronym Weko, announced a provisional suspension of ETA’s right to sell movements to third-party brands. Once the dominant supplier of mechanical movements in Switzerland, ETA and its parent Swatch Group have been embroiled in a decades-long dispute with COMCO over the movement maker’s allegedly anticompetitive practices. Now the dispute between Switzerland’s largest watchmaking group and COMCO has taken a fresh turn with the Swatch Group filing a complaint with the Swiss federal court on January 20, demanding a repeal of COMCO’s decision to suspend sales, a move first reported by Swiss newspaper Neue Zürcher Zeitung (NZZ). An example of an ETA movement with upgraded features that ETA only supplies to sister brands; seen here inside a Hamilton According to the competition agency, the suspension of sales is meant to further weaken ETA’s market power as a major movement supplier, while allowing space for other movement suppliers to ramp up production and build their order books. The suspension remains in force until summer 2020, when COMCO will reach a final verdict on ETA’s rights and obligations. COMCO did allow a narrow exception to the ban, allowing ETA to sell its movements to small- and medium-sized watch brands that are existing clients. But the exception came a stipulation: Swatch Group has to treat all clients equally, which means selling movements to one small brand...
SJX Watches
Hong Kong’s political unrest has resulted in the first fall in annual profits at the Swatch Group since 2018. The world’s biggest watchmaking group, which owns brands like Omega and Longines, just announced its 2019 results, showing declines in both sales and profits. Net profit fell 13.7%, while sales declined 1.8% at constant exchange rates, or 2.7% at current rates, to 8.24 billion francs. The drops in profit and sales were primarily due to a drastic contraction of its business in Hong Kong – a city with a population of just 7.4 million – where Swatch Group owns over 90 retail stores, largely catering to shoppers from the China. Sales in Hong Kong for the second half of 2019 fell by 200 million francs. While Hong Kong was the key driver of the decline, it was not the only one. The luxury watch business in general is suffering from anaemic growth, which is also evidenced by the watch division results at diversified luxury groups like LVMH and Kering. On a more positive note, Swatch Group has managed to fulfil its stated aims of reducing operating expenditure and thinning inventory. Operating expenses dipped about 6%, while operating cash flow rose 30% in 2019. And after several consecutive years of growth, the group’s inventories declined by 1% in 2019, to a still-substantial 6.85 billion francs at cost. It’ll be a slow 2020… With Swatch Group predicting the situation in Hong Kong will continue to be “challenging” in 2020, it is in a weaker positio...
Revolution
The Swiss Competition Commission will ban ETA from supplying movements to all third-party customers in 2020, starting 1st January; Swatch Group calls foul.
Time+Tide
The Swatch Group have published their 2019 Half-Year Report, revealing some interesting information. The group has reported an increase in their inventory levels, which include components, movements and watches, to a total of 7.1 billion Swiss francs (up 2.6 per cent from 2018). More broadly, the group, which owns brands such as Tissot, Longines and … ContinuedThe post BUSINESS NEWS: Why the Swatch Group has millions of watches sitting in warehouses appeared first on Time+Tide Watches.
Video
Deployant
The Swatch Group's Nick Hayek announces increased turnover and profits for 2018, and that it will never return to Baselworld or any other mega exhibitions.
Revolution
The Swatch Group announced on 29 August the creation of a revolutionary balance spring with exceptional paramagnetic characteristics. This balance spring is made from a new non-magnetic compensating alloy called Nivachron™ which the Swatch Group developed in collaboration with Audemars Piguet.
Deployant
We take a quick glance at the recent Swatch Group 2017 financial result, and provide a short analysis on the both the current and future outlook of the conglomerate.
Deployant
Swatch Group's first half showed positive results ins ales and an increase in operating margin. It managed to pursue macro strategies of sustained investmen
Deployant
Georges Kern resigns from his position of Head of Watchmaking, Marketing and Digital of the Richemont Group. The resignation has immediate effect.
Video
Deployant
Much has been written on the announcement by the Richemont Group's re-organization. We offer personal musings of a young management consulting practitioner.
Deployant
Press release and analysis on the Swatch Group results for the first half 2016
Revolution
Since its inception in 2005, REVOLUTION has honoured the very best of the watch world with its annual awards round-up. Every year, the eagerly anticipated REVOLUTION Awards presents in a range of categories such as Best Men’s Watch, Best Design, Man of the Year and Lifetime Achievement. In 2012, the Swatch Group netted two REVOLUTION […]
Hodinkee
The latest marque hopes to bring watchmaking to a different audience.
Hodinkee
Swatch takes aim at the numbers and methods of the widely read Morgan Stanley 'Swiss Watcher' industry report.
Video
This video is my opinion on if there is a Swatch x AP Royal Oak watch collaboration coming on May 16th- based on Swatch's two recent Instagram posts.
Revolution
Hodinkee
Deal for minority stake gives luxury giant access to Swiss-made watch movements at a significant scale and comes as the industry consolidates.
Hodinkee
Swiss maker of Blancpain and other brands says price increases follow 'dramatic' change in exchange rates.
Revolution
Revolution
Video
The Swatch X AP leaks are EVERYWHERE. I think they are real. Let's talk about it.
Revolution
Hodinkee
And it's not who you might expect.
Revolution
Hodinkee
ETA now can operate freely in Switzerland's more competitive mechanical movement market, COMCO says.
Revolution
Video
Question, suggestion, or just want to say hi? Drop a note.