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.
ZURICH, Switzerland — Swatch Group Chief Executive Nick Hayek has signed a contract with credit card company Visa Inc. in connection with the Swiss firm's new watch that enables wearers to make payments, Le Temps newspaper reported on Tuesday.
Swatch has already introduced the watch in China and aims to introduce a similar device in 2016 in Switzerland and the United States.
In China Swatch has partnered with China UnionPay. Hayek confirmed he has signed a contract with Visa for elsewhere. That covers Switzerland and the United States, the paper said.
Hayek said the Swiss watchmaker would make an announcement in the coming days about its pact with Visa, the world's largest payments network.
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A Swatch spokesman confirmed the report on Tuesday but declined to give additional information.
Swatch is joining other Swiss watchmakers seeking a share of the so-called "smartwatch" market in competition with the Apple Watch.
By John Miller; editor: Greg Mahlich.
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.