Frédéric Malle Steps Down From Namesake Brand
Frédéric Malle announced on Apr. 18 that he will be leaving his brand Editions de Parfums Frédéric Malle at the end of June.
The Swiss watchmaker's sales took a hit, dropping 2.7 percent amid ongoing political unrest in Hong Kong.
As watchmakers increasingly rely on their own distribution networks, the industry's largest annual conference runs the risk of becoming obsolete.
The results will likely spark concern that the watch rebound is fading.
Operating income rose 70 percent in the first half to 629 million francs ($628 million).
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As the Swiss watch industry rebounds from the longest slump since the quartz crisis, wholesalers are no longer holding back on orders to stock up again, Nick Hayek said.
Swatch shares dropped as low as 377.3 francs after Apple unveiled its Series 3 watch that can make calls and receive messages without a mobile phone.
A rebound in Swiss watch sales exonerates Swatch Group CEO who refused to cut his skilled work force when profits were declining.
Swatch Group, the maker of Omega and Tissot timepieces, said first-half profit fell about 50 percent to 60 percent on weak demand in Asia and Europe and the strength of the Swiss franc.
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Frédéric Malle announced on Apr. 18 that he will be leaving his brand Editions de Parfums Frédéric Malle at the end of June.
The two brothers join older siblings Antoine and Delphine, meaning that 4 out of Arnault’s 5 heirs now serve on the board. Bernard Arnault, age 75, has placed his controlling interest in LVMH in a stock-share partnership aimed at perpetuating family control.
Billionaire Bernard Arnault said he hopes a planned visit to France next month by China’s Xi Jinping will help smooth trade relations between Paris and Beijing.
Alyson Hogg, who founded the luxury tanning brand in 2003, has reacquired it from Crown Laboratories.
Monthly Swiss watch exports suffered their biggest decline since 2020 as demand for premium and luxury timepieces in key markets including China and Hong Kong plunged.
Asos has said it will take “necessary actions” to transform its fortunes after the fast fashion retailer’s first-half losses widened and sales fell by nearly a fifth.
The effort to force TikTok’s Chinese parent company ByteDance Ltd to divest its ownership of the social media platform would quickly become law under a plan outlined Wednesday by House Speaker Mike Johnson.
The French publisher has appointed Tunis-based firm Nissa Editions Group as the local licensing partner and Cairo-based fashion media veteran Susan Sabet as both managing director and editor-in-chief of the new title.