1,174 articles · 129 videos found · page 4 of 44
Time+Tide
LVMH Watches has made some major moves, with Julien Tornare appointed as Hublot CEO, and Antoine Pin taking over TAG Heuer.The post Julien Tornare appointed CEO of Hublot, Antoine Pin new CEO of TAG Heuer appeared first on Time+Tide Watches.
Monochrome
At CHF 3,445 million, the sales of the Swatch Group, the Swiss powerhouse owner of Omega, Longines or Tissot, are down 14.3% at constant exchange rates and 10.7% at constant rates. The declining sales strongly impact the operating profit at CHF 204 million against CHF 686 million for the previous year. Swatch Group advises that […]
Time+Tide
One of the watch industry's biggest conglomerates has played musical chairs this week, with a new group CEO appointed and brand CEOs moving around.The post Richemont’s CEO reshuffle signals a new future for the luxury group appeared first on Time+Tide Watches.
SJX Watches
Alongside its results for the year ended March 2024 – with revenue at an all-time high but marked by slowing growth – Richemont announced a major management revamp with Nicolas Bos promoted to chief executive officer of the group that owns brands like Cartier and Piaget. His predecessor (but not exactly), Jérôme Lambert, will be the group’s chief operating officer. Having led Van Cleef & Arpels (VC&A;) for just over a decade, Mr Bos skilfully grew the jeweller’s revenue more than sixfold during his tenure. At the same time, he managed to established a recognisable identity for VC&A;, one distinct from its bigger sibling, Cartier. He has spent practically his entire career at Richemont, having joined the group in 1992. Prior to taking the top job at VC&A;, he was its creative director, a role he retained even after becoming the jeweller’s chief executive. Effective June 1, the promotion of Mr Bos lends credence to talk of retirement for Cartier boss Cyrille Vigneron, who at 63 is nearing the group’s retirement age. Having led Cartier since 2015, Mr Vigneron has transformed it into a reliably profit generator that accounts for about half of the group’s revenue and a great deal of its profits. And next most profitable brand in Richemont is of course VC&A;. Jerome Lambert Some are more equal than others Mr Bos’ new job implies a demotion of sorts for Mr Lambert, who was appointed chief executive officer in 2018, after having led Jaeger-LeCoultre and then Montbla...
Fratello
Hello, and welcome to an on-location episode of Fratello Talks. Today, Nacho, Daan, and Lex are coming to you from the Watch Valley event in Utrecht, where Swatch Group novelties for the first half of 2024 were unveiled. They’ll run through some of their favorites and give opinions on the different brand’s new watches and […] Visit Fratello Talks: Swatch Group Novelties From The Watch Valley Event In Utrecht to read the full article.
Video
Money Can't Buy Taste: Here are celebrities with AMAZING watches. Not another Rolex - we are talking Urban Jurgensen, Vacheron Constantin, Patek Philippe and a cheeky Hublot. Here's my favourite celebrity watch collec...
Fratello
Exactly two years after the successful launch of the MoonSwatch, Swatch introduces the Mission to the Moonphase. It’s a MoonSwatch Snoopy, in short, as NASA’s “watchdog” is positioned in the upper-right sub-dial. On the battery cover on the case back, there is also Snoopy’s footprint on the Moon. Clever! Omega × Swatch MoonSwatch Mission to […] Visit Introducing: The MoonSwatch Snoopy - Mission To The Moonphase to read the full article.
Monochrome
Following the announcement in July 2023 of its half-year results showing an impressive growth of 18% in sales, Swatch Group has just issued its key figures for the entire year 2023. The Biel-based conglomerate, owner of brands such as Omega, Longines, Tissot or Breguet, reports sales up by 12.6% at constant exchange rates, or 5.2% […]
Time+Tide
On a personal level, I am well documented on the record in that I have no desire to purchase a Omega x Swatch MoonSwatch. I just cannot see a reason to bring it into my collection, recognising from my own wear patterns it would probably get very little wrist time. Maybe it is a bit … ContinuedThe post Roger Smith reminds us to have fun with a MoonSwatch wristshot appeared first on Time+Tide Watches.
Time+Tide
Last year, Mido, one of the brands under the Swatch Group umbrella, released the affordable Ocean Star GMT.The post How Swatch Group quietly developed a gamechanger for affordable GMTs appeared first on Time+Tide Watches.
SJX Watches
From a robust profit of CHF748m the year prior, Swatch Group ended 2020 with a net loss of CHF53m – the first in decades for the Swiss watch conglomerate that owns brands like Omega, Longines, and Tissot. This reversal of fortune was attributed to the COVID-19 pandemic, which forced many of its retail stores to close while putting a halt to international travel. On an operating level, Swatch Group eked out a tiny CHF52m profit – compared to CHF1.02 billion the year before. The year’s results were mitigated by an improvement in the second half of 2020, with sales in the second half of the year rose 54.7% compared to the previous six months, as economic activity resumed in Asia with pandemic restrictions lifted, particularly in China, which experience double-digit growth for the full year. And the Swatch Group also had to face a virus of the digital kind in the second half of the year. Reported in information-technology news but not in the mainstream press, the group suffered a cyber attack in September, leading to a mention of “a 10-day production interruption” at Omega in the results announcement. Hit harder than most With jewellery selling better than luxury watches, fellow Swiss rival Richemont was buoyed by its pair of jewellery brands that helped plug the hole caused by its faltering watch division. Although Swatch Group owns American jeweller Harry Winston, the bulk of its revenue is generated by watches and watch components. Net sales fell to CHF5.59 bil...
Video
At the time of recording, the exchange rate was 1 GBP = 1.33 USD. Please note that exchange rates fluctuate, so the conversion may differ when you view this video. Always check current exchange rates for the most accu...
SJX Watches
Swiss watchmaking conglomerate Swatch Group just announced its half-year 2020 results and unsurprisingly, it took a huge hit due to the COVID-19 pandemic. Although the group, which owns brands like Omega and Longines, had a good start in January with an operating margin of 17.3% – with the watch and jewellery brands performing a bit better than movement- and component-production division – the lockdown progressively imposed across the world since February severely impacted sales, leading to a steep declines in revenue and half-year operating loss, a first for the group. Group sales for the first half plunged 43.4% at constant exchange rates from a year earlier, resulting in an operating loss of CHF327m, compared to a profit of CHF547m for the same period in 2019. Most of the drop in sales was attributed to the lockdowns in most countries, resulting in widespread store closures. The Swatch Group saw up to 80% of both its own boutiques and third-party retailers close, meaning it had to rely on partially “partially feasible” e-commerce. And even after lockdowns were lifted, the group permanently vacated some of its retail space, as evidenced by disputes with its former landlord in Hong Kong, which has sued the Swatch Group for several million in allegedly unpaid rent. Due to its swiftly-streamlining retail network, the group’s employee count was trimmed by 6.5% since December 2019 to approximately 33,700 employees. This was also confirmed by anecdotal evidence fro...
Time+Tide
Entire nations forced under lockdown, airlines teetering on the brink of collapse, fistfights erupting over rolls of toilet paper … Coronavirus has rocked the planet and God knows what life will be like when ‘normality’ resumes. It’s unlikely to be normal as we knew it, that’s for sure. In such desperate times, it may seem … ContinuedThe post Will Coronavirus, and a recession, shorten that waiting list you’re still on? An economics professor and a former Swatch Group MD weigh in… appeared first on Time+Tide Watches.
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...
Video
Charlie and Josh are back across the desk from each other, and they will be answeing your questions!
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.
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.
Video
Welcome the to watch releases update for the second week of June 2026. We have new models from Seiko, Tissot, Nomos and more. Enjoy the video:)
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.
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 […]
Video
My Wife Rates My Watch Collection
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