Though direct-to-consumer is becoming much more important to watchmakers, Breitling CEO Georges Kern is spreading investment across several channels, rebalancing store networks and refusing to give up on trusted third-party retailers.
$2.4 billion in annual revenues are set to shift from retailers to brands by 2025 as consumers demand better online shopping experiences and brands aim for higher margins.
Global fashion houses are slashing their marketing budgets by 30 to 80 percent to weather the economic fallout of the pandemic.
Claims of the trade war's effects on the industry are not due to tariffs from either country, but because the dispute saps growth prospects in the two largest markets for watches.
The UK’s biggest retailer of luxury Swiss watches is pushing into America with its glossy showroom model intent on luring investors as much as millennials, as hedge fund owner Apollo prepares for an exit.
Georges Kern told the SonntagsZeitung that he intervened after finding complaint letters from people concerned about the ads' portrayal of women.
An unconventional management structure, combined with serious ongoing business challenges, has upset senior ranks at the Swiss luxury conglomerate.
Breitling is one of the last remaining large independent Swiss watch brands while many others have been acquired by competitors such as Swatch Group, Richemont, LVMH and Kering.
The Swiss watchmaker's family owners have done well to get a deal at all. At least by keeping a 20 percent stake, they won't be shut out from all the upside.
The most likely suitors are luxury goods companies rather than private equity firms.
Leasing of stores at the World Trade Center site in lower Manhattan is almost complete, with a tenant list that includes Breitling, Michael Kors and an outpost of Mario Batali’s Eataly.
The Business of Fashion