Swatch profit rises due to Tiffany settlement
Biel/Bienne, Switzerland--Swatch Group reported a 9 percent increase in net sales and a 17 percent increase in operating profit, boosted by the watch giant’s multimillion-dollar settlement with Tiffany & Co.
Watch pioneer Raymond Weil dies at 87
Raymond Weil of the eponymous Swiss luxury watch brand died on Sunday, leaving behind a legacy of creating luxurious yet affordable timepieces.
Faulty pump believed to be cause of Swatch fire
While the investigation into the fire that destroyed part of a Swatch Group factory remains under investigation, a company spokesperson said early results indicate the fire was caused by a “technical deficiency” in one of the pumps in the galvanic workshop.
Audemars nets Royal victory in trademark case
A watch company has been ordered to pay Audemars Piguet more than $9 million in damages for selling a watch that was deemed to be a knockoff of the luxury watchmaker’s “Royal Oak.”
Tiffany ordered to pay Swatch $449M in watch case
Following confidential arbitration, a court in The Netherlands has ruled in Swatch Group’s favor in its multi-million-dollar legal battle with Tiffany & Co. over the companies’ now-severed watch contract.
Singer Clarkson named newest Citizen ambassador
Kelly Clarkson, who got her start as the first winner of American Idol before rising to fame and snagging three Grammy Awards, is the newest face for Citizen watches, the brand announced Monday.
Seiko opening high-end boutique in the US
Japanese watch maker Seiko announced Thursday that it’s expanding its global presence with the opening of its first high-end boutique in the United States next year.
Movado’s Q3 sales climb 18 percent
Movado Group Inc. reported Tuesday that third quarter sales increased 18 percent year-over-year, led by growth in the accessible luxury and licensed brand categories.
Watch News: Bremont opens Hong Kong store
Following the opening of its standalone flagship store in London, English luxury watch brand Bremont now has its first overseas boutique, located in Hong Kong.
Swatch Group ordered to slow cuts of supplies
The Swiss competition authority, Weko, has ruled that it is too early for Swatch Group to cut supplies of Nivarox assortments to third-party companies, a ruling that is a victory for smaller watchmakers anxious about procuring all the parts needed to build watches.