Swiss watch exports in sharpest fall since financial crisis (Financial Times) — Swiss watch exports fell 9.9 per cent last year, their sharpest drop since the financial crisis, as big markets such as Hong Kong and the US continued to shrink.
Swatch Group’s Dreaded Two Words: Growth and Inventories (Watch Ponder) — While Swatch Group’s self-projected sales growth would be nice, growing inventory levels are something that cannot be ignored. This should leave all of us wondering Is Swatch Group being realistic?
Swatch Group Releases their 2016 earnings summary (Swatch Group) — This one-page summary shows some very difficult times. I’ll be publishing a full analysis this week.
Money from old wrists (The Economist) — The rebirth of the mechanical wristwatch in the late 1980s has created a mature collector’s culture. If you accept the arbitrary definition of a “vintage watch” as one that’s over 25 years old, then the earliest examples of the “new wave” mechanical wristwatches are now soaked in the desirability and gravitas of age.
Richemont Continues Restructure With CEO Shakeups At Jaeger-LeCoultre, Vacheron Constantin, Piaget, & Alfred Dunhill (aBlogtoWatch.com) — The CEO’s of Jaeger LeCoultre, Vacheron Constantin, Piaget, and Alfred Dunhill “decided to leave” their positions in the face of a difficult luxury market.