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.
The independent Swiss watch manufacturer was touted as one of the fastest-growing brands on the Watchbox platform by Watchbox’s chief executive Justin Reis in April to Reuters. De Bethune was founded in 2002 and is lead by watchmaker Denis Flageollet and CEO Pierre Jacques, who will remain with the brand after the deal closes.
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The Future of Watches: The Pre-Owned Market Will Be Worth Up To $32 Billion
Watch brands must work hard to capitalise on the increasingly important second-hand market, while digital platforms will need to sharpen their business models.
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.
The group’s flagship Prada brand grew more slowly but remained resilient in the face of a sector-wide slowdown, with retail sales up 7 percent.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.