Richemont

Richemont Reports Strong Results for the Fiscal Year Ended March 31

richemont_graphic_2

Richemont saw strong sales growth across all segments and geographic regions for the year ended March 31, with the specialist watchmakers posting record sales and profits despite the stronger Swiss … [Read more...]

North American Institute of Swiss Watchmaking Celebrates First Graduating Class

NAISW_165

The North American Institute of Swiss Watchmaking celebrated its first graduating class on April 2. The Class is comprised of students who have completed a two year program and will receive a North … [Read more...]

TechnoMarine Appoints Jacques-Philippe Auriol CEO

technomarine_165

The Board of TechnoMarine SA has announced the appointment of Jacques-Philippe Auriol as Chief Executive Officer of TechnoMarine SA with immediate effect. Since 2007, Mr. Auriol has been developing … [Read more...]

Claude-Daniel Proellochs Passes Away

cdp_1

Sources in Switzerland are reporting that former Vacheron Constantin CEO Claude-Daniel Proellochs died in his sleep in Neuchâtel this past Sunday evening following a short battle with cancer. … [Read more...]

2010: The Year In Review Quiz, Part II

pt_2_title_2

Once again we look at the biggest and smallest stories of the year. Were you paying attention? As always, the answers appear at the end. Good luck! … [Read more...]

Rolex Romps 7 Million Chronometers in a Decade

cosc_10_200

Watch enthusiasts know that when it comes to producing Swiss chronometers, there are the Big Three Brands – Rolex, Omega and Breitling – and then there’s all the rest. Just how big the Big Three … [Read more...]

30 Minutes with Lutz Bethge Montblanc’s CEO discusses the brand’s high-watchmaking ambitions.

LutzBethge_200

When Montblanc unveiled its Metamorphosis watch at the SIHH watch show in Geneva in January, many believed it would be years before the exotic new chronograph would be ready for market. After all, the … [Read more...]

Richemont Reports Strong Sales Results

richemont_graphic_3

Richemont has announced that its sales for the five months ended August 31 2010 increased by 37 percent at actual exchange rates. At constant exchange rates and excluding the impact on sales of the … [Read more...]

Cartier Sues Online “Flash” Retailer HauteLook Over Watch Sales

cartier_graphic

Cartier has sued HauteLook, Inc. in federal court in Manhattan alleging the Los Angeles-based retailer falsely claims to offer new Cartier goods at deep discounts based on a special relationship with … [Read more...]

Switzerland Mourns Its Watch “Messiah”

ngh_165

Switzerland has responded to the sudden death of Swatch Group Chairman Nicolas G. Hayek on June 28 with a rare outpouring of grief, praise, and appreciation. Hayek, 82, was born in Beirut, Lebanon, … [Read more...]

Ulysse Nardin, Audemars Piguet Raise Eurozone Prices as Sales Rebound

rs_un_160

Reuters correspondent Silke Koltrowitz interviewed Ulysee Nardin President and CEO Rolf Schnyder and Audemars Piguet CEO Philippe Merk at the Global Luxury Summit in Paris earlier this month. Both men … [Read more...]

The Good, the Bad, and the Ugly: Watch Company Financial Results for 2009

article_graphic_200

For the most part, the Great Recession of 2009 pretty much mugged corporate sales and profits. In the watch sector, for example, the Bulgari and Movado groups reported red ink for the year. But there … [Read more...]

Richemont Announces Deal to Acquire Online Luxury Retailer Net-a-Porter.com

richemont_porter_160

Compagnie Financière Richemont SA has announced that it will acquire online luxury retailer Net-a-Porter.com. Richemont purchased a 33% interest in Net-a-Porter in 2002, and in this deal Richemont … [Read more...]

Geneva Unconventionals

gte_lm_200

Every year, Richemont Group's luxury watch brands, plus a handful of large, independent brands, exhibit their new watches at SIHH in Geneva’s labyrinthine Palexpo Center. This year, 38 small, … [Read more...]

Swatch Group Enjoys Rebound in Second Half of 2009

swatch_grp_logo_1502

Swatch Group struck a positive tone in its 2009 financial report as results for the second half of the year were much stronger than the first half, when watch sales were down 16.4%. Watch sales … [Read more...]

TIME TEST: The Year in Watches

quiz_kid_2

For those who may have missed it, this was our featured article last week, and it was so popular, we've carried it over. Say goodbye to 2009 with this WIS quiz on some of the year's top stories. To … [Read more...]

TIME TEST: The Year in Watches

quiz_200_1

Have you been taking notes? We did say there would be a test. Say goodbye to 2009 with this WIS quiz on some of the year's top stories. To see how you did, or to ensure a perfect score, scroll down to … [Read more...]

Johann Rupert Assumes Richemont CEO Role Effective April 1, 2010

rupert_sm

Richemont has announced that effective April 1, 2010, Johann Rupert will assume the role of CEO, replacing Norbert Platt who will retire at the end of the year for health reasons. Mr. Platt will … [Read more...]

Executive Sweep

exec_graphic_1

September was a tough month for watch executives, and not just because of the continuing slump in sales. A small army of top executives – three worldwide CEOs, and five U.S. ones – resigned or … [Read more...]

The Decade that Was

10th_candles_4

You can’t see us, but we’ve got our party hats on. This September, WatchTime magazine celebrates its 10th birthday. To mark the event, we’re publishing in our September-October issue (on … [Read more...]

Swatch Group Sales Beat Industry Averages

swatch_grp_logo_150

Swatch Group AG’s half-year 2009 financial report sent the company’s shares higher on the strength of sales that outperformed industry averages and an indication that “signs of recovery” are … [Read more...]

Richemont Results for Year Ending March 31, 2009

richemont_logo_1

Swiss luxury goods group Richemont has announced its audited results for the year ending March 31, 2009. Overall group sales increased 2 percent, however good growth in the first six months was … [Read more...]