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Andy HoffmanFortune |
Tag Heuer, a watch brand owned by LVMH, is in talks to take over the sponsorship deal.
The company said jewelry sales — which account for the bulk of its revenue and profit and also include the Van Cleef & Arpels and Buccellati brands...
The company’s key Omega brand may be suffering from more availability of models at retail from rival Rolex, the top Swiss watch brand.
Even during the downturn, prices for some brands such as Cartier are rising.
Despite signs of stability, Watches of Switzerland warned that sales and profit would be weaker than anticipated.
Dealers have speculated that the Pepsi GMT could be discontinued this year amid talk of challenges in producing the red and blue bezel.
The price of gold has surged 14% this year, touching an all time high of $2,450 an ounce in May.
Watches of Switzerland Group reported a 14% increase in sales in its fiscal fourth quarter. That helped total sales rise 3% — to $482 million.
Average prices for Cartier watches are lower than Rolex and Patek Philippe, with many models changing hands for less than $5,000.
The Rolex 4113, produced in 1942 and one of just 12 ever made and nine known to exist, was sold on Saturday at the Monaco Legend Group auction.
All of the watch models that gained in value continue to trade well above their retail prices, although they are extremely difficult to buy new at a...
The watch is "arguably the most important Vagabondage F.P. Journe ever made,” Remi Guillemin, Christie’s head of watches in Europe and the US...
Rolex had "greater sales than that of the five following brands Cartier, Omega, Audemars Piguet, Patek Philippe and Richard Mille combined.”
Turbocharged demand for timepieces boosted Swiss watch exports to a record $28.5 billion in 2022. Now the main growth is in cheaper timepieces.
The maker of Lucky Strikes is taking the non-cash impairment to reflect the diminishing carrying value of the brands over the next 30 years.
The maker of Lucky Strikes is taking the non-cash impairment to reflect the diminishing carrying value of the brands over the next 30 years.
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