Temu-Owner PDD Holdings Misses Quarterly Revenue Estimates
Despite price slashing from retailers and government stimulus measures to boost consumer spending, the e-commerce company's year-on-year net income fell 47 percent.
luxury / Watches
Can Swiss Watches Compete on Value?
The price of Swiss watches has continued to rise, leaving watchmakers battling to bolster their value propositions amid a downturn in luxury spending.
Behind-the-Scenes at Watches and Wonders Geneva
CEOs of the Geneva watch fair’s organising foundation, LVMH’s watchmaking division, Piaget and Breitling sound off on the latest edition. Bulgari has entered the fold, but Breitling, Audemars Piguet and Swatch continued to snub the expo.
How Rolex Makes a New Watch
Inside the painstaking design and development of the brand’s new Oyster Perpetual Land-Dweller.
Luxury
Can Breitling Revitalise Watchmaking’s Troubled Middle Market?
The Swiss brand revealed a new collection fronted by Austin Butler and priced from $5,600 — considered a competitive price point for watches with in-house mechanical movements — as well as relaunching the Gallet brand with watches to be priced from $3,300. The moves defy the industry’s recent focus on top-end launches.
Can Breitling Revitalise Watchmaking’s Troubled Middle Market?
The Swiss brand revealed a new collection fronted by Austin Butler and priced from $5,600 — considered a competitive price point for watches with in-house mechanical movements — as well as relaunching the Gallet brand with watches to be priced from $3,300. The moves defy the industry’s recent focus on top-end launches.
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Luxury
Richard Mille and Ferrari Bucked Luxury’s Slowdown. Now They’re Releasing a $1.5 Million Watch
Swiss watchmaker Richard Mille is renewing its deal with Ferrari and its F1 team. Limited quantities and savvy marketing plays have helped the brand build a $1.7 billion business—and steer clear of a downturn plaguing the luxury watch sector.
Richard Mille and Ferrari Bucked Luxury’s Slowdown. Now They’re Releasing a $1.5 Million Watch
Swiss watchmaker Richard Mille is renewing its deal with Ferrari and its F1 team. Limited quantities and savvy marketing plays have helped the brand build a $1.7 billion business—and steer clear of a downturn plaguing the luxury watch sector.
Vanguart: How an Eight-Year-Old Startup Sells $200,000 Watches
Scarcity, innovation and the right investors have allowed Vanguart, Biver and more build top-end watchmaking businesses from scratch.
At Watches of Switzerland, Rolex Demand Is Fuelling Retail Expansion
As the watch industry braces for US tariffs, Watches of Switzerland is opening one of Europe’s largest Rolex boutiques in London in a bet that demand will remain resilient.
Partner Content
How Vacheron Constantin Is Engaging the Next Generation in Abu Dhabi
As the luxury watch brand celebrated its 270th anniversary, BoF’s Nick Blunden moderated a panel featuring Vacheron Constantin’s heritage and style director Christian Selmoni, author and artist Alia Al Shamsi, and editor of The National’s Luxury Magazine Nasri Atallah, to unpack how heritage brands can resonate authentically in the UAE.
How Vacheron Constantin Is Engaging the Next Generation in Abu Dhabi
As the luxury watch brand celebrated its 270th anniversary, BoF’s Nick Blunden moderated a panel featuring Vacheron Constantin’s heritage and style director Christian Selmoni, author and artist Alia Al Shamsi, and editor of The National’s Luxury Magazine Nasri Atallah, to unpack how heritage brands can resonate authentically in the UAE.
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Can Formula 1 Keep TAG Heuer in the Fast Lane?
The LVMH-owned brand plans to spend nearly 20 percent of sales on marketing this year, new CEO Antoine Pin says, doubling down on partnerships in the fast-expanding world of F1 racing in an effort to keep up growth in a sluggish watch market.
Luxury
Swiss Watch Exports Could Dwindle to 12 Million Units As High-End Shift Accelerates
'Big Four' watchmaking brands Rolex, Patek Philippe, Audemars Piguet and Richard Mille all grew last year, Morgan Stanley’s annual report said. But less sought-after names including Tudor, LVMH’s Hublot, Swatch’s Longines and Breguet all registered steep declines.
Swiss Watch Exports Could Dwindle to 12 Million Units As High-End Shift Accelerates
'Big Four' watchmaking brands Rolex, Patek Philippe, Audemars Piguet and Richard Mille all grew last year, Morgan Stanley’s annual report said. But less sought-after names including Tudor, LVMH’s Hublot, Swatch’s Longines and Breguet all registered steep declines.
Decoding LVMH Watch Week
The event was the first time the group’s watch brands had come together publicly since LVMH Watches chief executive Frédéric Arnault announced plans to streamline the division’s operations in November last year.
Luxury
Piaget’s CEO on Powering Growth in a Challenging Watch Market
The Richemont-owned jewellery and watch brand is enjoying newfound momentum after relaunching its Polo 79 timepiece — part of a broader programme to reactivate the glamour of its jet-set glory days. CEO Benjamin Comar shares his vision for how Swiss watchmakers can reach new clients in a tough market for hard luxury for The State of Fashion: Luxury.
Piaget’s CEO on Powering Growth in a Challenging Watch Market
The Richemont-owned jewellery and watch brand is enjoying newfound momentum after relaunching its Polo 79 timepiece — part of a broader programme to reactivate the glamour of its jet-set glory days. CEO Benjamin Comar shares his vision for how Swiss watchmakers can reach new clients in a tough market for hard luxury for The State of Fashion: Luxury.
The News in Brief
Swiss Watch Exports Jump in April Ahead of Threatened US Tariffs
Swiss watch exports to the US saw a significant increase in April, driven by a surge in shipments ahead of anticipated tariff hikes.
Italy’s Fashion Brands Sign Accord to Fight Worker Exploitation
Italian legal and political authorities, trade unions and fashion industry parties signed a non-binding action plan focussed on the creation of a database of brands’ suppliers and their workforces, after prosecutors uncovered widespread abuse.
EU Warns Shein of Fines in Consumer Protection Probe
The EU has ordered Shein to address consumer law breaches within one month or face potential fines.
Trump Extends Deadline for 50% Tariffs on EU Goods to July 9
The US president told reporters the decision to push the deadline came after he had a ‘very nice’ phone call with Commission President Ursula von der Leyen.
E.l.f. Beauty Announces $1 Price Hike, Citing Inflation and Tariffs
The mass brand will raise prices in August.
Boris Bidjan Saberi Is Shutting Down Operations
The eponymous Barcelona-based avant garde menswear label confirmed it has ceased operations.
EU Plans €2 Fee for Low-Value Parcels in Setback for Shein and Temu
The European Union is considering a handling fee for low-value e-commerce packages, primarily from platforms like Shein and Temu, to address a surge in volume and ensure compliance with EU regulations.