Swatch CEO Says Watch Brands to Hike Prices in Europe

Swatch spring/summer 2015 collection | Source: Swatch

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.

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Apple Watch Threatens Mid-Range Swiss Brands

Tissot T-Touch Expert Solar | Source: Tissot

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.

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Market Pulse | A Chilly Summer

Savigny Luxury Index July 2014 | Source: Savigny Partners

The Savigny Luxury Index fell a further 3.8 percent this month.  The outlook for the luxury goods sector darkened as disappointing results from industry leader LVMH showed how the strong euro and political protests in Hong Kong were curbing spending and hitting profits.

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