How can fashion companies navigate the crashing waves of currency fluctuations?
Swatch Group AG plans to start selling a smartwatch in the next three months, potentially pitting the Swiss maker of colorful plastic timepieces’ debut directly against Apple Inc.’s Apple Watch.
Swatch Group AG reported 2014 earnings that missed analysts’ estimates as political protests in Hong Kong weighed on demand for Swiss watches in that market.
Swiss watch exports kept growing at the slowest rate since the financial crisis for a second year as shipments to China and Hong Kong dropped in the final quarter.
Small, lower-end Swiss watch brands face a more uncertain future after the Swiss National Bank’s U-turn on the franc cap, according to Greubel Forsey SA.
Swatch Group AG, Switzerland’s biggest watchmaker, will raise prices at some of its brands by as much as 10 percent after the Swiss National Bank’s surprise decision last week to abandon the cap on the franc exchange rate.
TAG Heuer is set to enter uncharted territory this year with plans for a smartwatch that will be its only timepiece developed outside Switzerland.
The franc’s record surge may prompt luxury watch retailers in Hong Kong to absorb some of the price increase from Switzerland’s high-end timepiece makers as demand stays weak amid a slowing Chinese economy.
Swatch Group AG, Switzerland’s biggest watchmaker, lost its court bid to recoup 24.8 million Swiss francs ($24.3 million) of losses from investments with UBS Group AG that turned sour.
Swatch Group AG’s Tissot T-Touch Expert Solar watch has a compass, tells the altitude and runs on solar power. It costs $1,250 — more than three times the smartwatch Apple Inc. unveiled yesterday, putting it squarely in the crosshairs of the tech giant’s latest gizmo.
Swatch Group, the world’s largest watchmaker, will debut a smart watch next year in a solo endeavour.
BIEL, Switzerland — Swatch Group AG Chief Executive Officer Nick Hayek doesn’t mind losing the lead in smartwatches. For now, he’s happy to wait and see whether anyone actually wants to buy them.
The Savigny Luxury Index (“SLI”) leapt by 6.7 percent this month, overperforming the MSCI World Index (“MSCI”) by almost six percentage points, as luxury sector investors seem to have received the reassuring they needed from a number of positive signals, reports Pierre Mallevays of Savigny Partners.