The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
GENEVA, Switzerland — Swatch Group AG plans to start selling sunglasses under its namesake brand as soon as this year, a diversification from its main business of Swiss watches as that industry faces one of its most challenging years.
A collection called Swatch Eyes will probably be Italian made, and will be better than the glasses the brand tried selling in the 1990s as Swatch now has improved its distribution, Chief Executive Officer Nick Hayek said by phone Thursday. The glasses would be sold in 900 locations, including Swatch shops, as well as Hengdeli and Rivoli stores in Asia and the Middle East.
The Swiss watch industry is facing Apple Inc.’s imminent introduction of a smartwatch as luxury consumption in China, the biggest market for Swiss watches, extends a two-year slump. The franc has surged 14 percent against the euro this year, damping earnings from sales made abroad.
Swatch is still hiring in Switzerland, Hayek said. Last year, the company added 770 jobs in its home country.
By Jan Schwalbe, Thomas Mulier; editors: Matthew Boyle, Paul Jarvis.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.