The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
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.
Biel, Switzerland-- 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.
The blaze broke out around 8:45 a.m. local time on Dec. 29 in the galvanic department of Swatch Group Inc.’s main ETA factory in Grenchen, Switzerland. While the factory never completely closes, there was no activity in this area at the time of the fire, so no workers were injured.
Total damage from the fire, including lost production, reproduction of destroyed components and clean up, is estimated at $44.3 million to $55.4 million.
Swatch Group spokeswoman Béatrice Howald said that because of the fire the company will have a temporary delay in production but, “the management is confident … to catch up with the delays within the first half-year.”
She added that the fire also destroyed already-produced components of standard movements that were mainly for third-party suppliers. Other galvanic workshops within Swatch Group can help with production as the fire-damaged shop is repaired.
Despite production delays caused by the late December blaze, Swatch Group said Friday when releasing sales figures for 2013 that is expects “dynamic growth” in 2014, based on the strong start by all brands in the first few days of January.
Swatch Group reported 9 percent growth in watch and jewelry sales in 2013, with total group sales also reaching a record high.
Sales in its watches and jewelry segment reached $9.45 billion, compared with $8.70 billion in the prior year. The company attributes the positive performance to strong brands and its extensive distribution and retail network.
Gross sales for the group were $9.77 billion, an increase of 8 percent as compared with the full year 2012 and setting a new high.
Despite a poor currency exchange situation, which had a negative effect on the company’s sales in the second half of the year, Swatch said that it still expects good results in terms of operating profit and net income when it publishes all key figures for 2013 next month.
The Latest
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The announcement came as the company reported a 23 percent drop in production in Q1.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.