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Charles Vögele targeted for takeover bid Monday, 8th October 2012
Troubled Swiss clothing chain Charles Vögele is thought to have caught the eye of investors now preparing a takeover bid. According to a report by Der Sonntag, a Southern European retailer is thought to be interested in the chain as it looks to expand internationally.
Swatch chairwoman expects double digit growth for 2012 Monday, 12th March 2012
"We have become used to recording double-digit growth rates so that eventually single-digit growth figures are almost seen as negative," Swatch Group chairwoman Nayla Hayek told Swiss newspaper Blick am Sonntag this weekend. In an interview reported by Reuters, Hayek added that "If everything goes well -- all indications speak in favour of that -- we will grow that way again in 2012."
With sales rising SFR 7.1 billion for the year before, Hayek is now confident of a 5 to 10 per cent growth in sales for 2012.
Swatch sees strongest turnover ever for Christmas 2011 Tuesday, 10th January 2012
It seems even the impact of the strong Swiss franc couldn’t keep Swatch down, as the world’s largest watchmaker posted record sales for 2011. The group on Tuesday announced sales rose 21.7 per cent at constant rates in 2011 compared to the year before, reaching a new record of SFR 7.143 billion (GBP 4.7 billion).
Hublot's new CEO Friday, 6th January 2012
The Swiss watch brand today announced that Ricardo Guadalupe will take over Jean Claude Biver’s position as chief executive. Gudalupe was the former managing director of the company and a personal friend of Biver’s for the past 20 years. Biver will remain with Hublot as chairman of the board, retaining his position as official spokesperson for the brand as well as coordinating strategy and product development.
Christmas 2011 Trading Updates Thursday, 5th January 2012
There’s no need to go hunting for all those crucial figures over the first few weeks of January: we’ll be collating all My-Retail Media coverage on the Christmas Trading Updates right here. Check back daily to see who’s released figures, or add @myretailmedia, where we’ll be tweeting the latest updates to hit our blog.
Rolex sues New York deli with similar name Wednesday, 21st December 2011
Luxury watch brand Rolex is threatening to call time on a New York cafe called Rolex Deli, for concerns it could confuse customers dropping by for a Swiss watch to go with their sandwich. The Brooklyn deli is now facing a trademark infringement lawsuit filed in Manhattan by Rolex, who claims the deli’s name gives the “false impression that defendants and their services and goods are in some way affiliated with Rolex”.
Ones to watch: Swiss timepiece exports rise 18.6% Tuesday, 22nd November 2011
Swiss watch exports rose 18.6 per cent in October, reaching an all-time monthly high in value terms. Foreign sales of Swiss watched totalled CHF 1.87 billion (GBP 130 billion) for the period, according to a report from the Federation of the Swiss Watch Industry. The gains were powered by increased demand for higher-priced timepieces, especially those made of gold.
Swatch sees record sales for September Monday, 24th October 2011
The chief executive at the world’s largest watchmaker has told Swiss newspapers the group will post record sales for 2011. “September was the strongest month that our company has ever had up to now.” Swatch Group CEO Nick Hayek told NZZ am Sonntag. “2011 will be a record year for Swatch Group.”
The company expects sales to exceed the SFR 7 billion (USD 7.9 billion) mark, with growth momentum continuing into the third quarter.
Stuck in the middle with Hublot Tuesday, 16th August 2011
Luxury watch companies are taking a hit to their margins as gold prices reach record levels.
As gold supersedes platinum in price, the ever increasing strength of the Swiss Franc has left Swiss luxury watch companies caught up in a pricing war, forced to accept smaller margins as they grapple for stability in the industry.
Many companies have already increased their price points several times in 2011, with 10 to 15 per cent now considering further increases later this year. If the price of gold, considered the raw material for luxury watches, continues to grow, many companies will have to absorb reduced margins for their product.
In a recent interview with WWD, Hublot’s chief executive Jean-Claude Biver said: ''I can't adjust my prices from one day to another. I must adjust progressively, step by step - but before I have made a full adjustment, I will have lost some margins. If you aren't ready to lose of gain margins, you can't do business. A brand might have the best year to date in turnover, but might eventually suffer in terms of margins''
Similarly, Patek Phillippe is one of the many luxury watch brands to have already made two price adjustments this year, 10 per cent in February and 7.5 per cent in July: ''It's much easier to go up than to ever go down in price. So when we move up, we move very slowly and very cautiously. Frankly speaking, we don't want to get caught where the dollar gets stronger and swings the other way and we are overpriced''.