Bits & Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.
Fossil Group Inc., a maker of watches, handbags and other accessories, tumbled as much as 14 percent in late trading after its holiday sales and annual forecast missed analysts’ estimates.
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 will launch a smart watch in the next two to three months, the Swiss watchmaker said on Thursday.
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.
The common denominator to attract female clientele in the luxury watchmaking industry has so far usually been a sparkly one — diamonds. Vacheron Constantin, the oldest Swiss watchmaker in continuous operation, plans to change that.
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.
Roger Dubuis, a Swiss watchmaker owned by Cie. Financiere Richemont SA, anticipates increasing prices in the euro zone by 7 percent in reaction to the Swiss National Bank’s Jan. 15 decision to exit a three-year-old euro cap.
TAG Heuer is set to enter uncharted territory this year with plans for a smartwatch that will be its only timepiece developed outside Switzerland.