NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
Swatch Group Confirms That It Won’t Return to Baselworld
A company spokesperson also backed CEO Nick Hayek’s recent statement regarding watch parts for LVMH and Richemont.
Biel/Bienne, Switzerland—Swatch Group will not be returning to Baselworld any time soon.
CEO Nick Hayek made that clear at a press conference held last week in Switzerland ahead of the company’s annual report, and a Swatch Group spokesperson confirmed the company’s permanent pullout to National Jeweler via email Tuesday.
“There’s no need for it anymore,” Hayek said of the trade show in an interview with Bloomberg. “The world has changed.”
The confirmation is a blow to Baselworld, which is struggling to remain relevant in the digital age, and comes just as the 2019 edition of the show is set to kick off in Switzerland.
Show organizers did not respond to National Jeweler’s request for comment on Hayek’s announcement but said there will be a press conference held Wednesday at Baselword.
Swatch Group also manufactures movements powering many competitors’ watches, but not for long.
The company will no longer supply parts to LVMH Moёt Hennessy Louis Vuitton and Richemont brands once their contracts expire at the end of the year, the company spokesperson confirmed to National Jeweler.
LVMH’s watch brands are TAG Heuer, Hublot, Bulgari and Zenith while Richemont owns a slew of high-end watch brands, including A. Lange & Sohne, Baume & Mercier, Cartier, IWC Schaffhausen, and Van Cleef & Arpels.
Neither LVMH or Richemont responded to National Jeweler’s request for comment on the decision.
The announcements about Baselworld and watch parts came ahead of Swatch Group’s release of its full-year financials for 2018.
The company posted strong results in its annual report, with its prestige and luxury range leading the charge.
Sales rose around 6 percent to 8.48 billion Swiss francs ($8.49 billion) compared with 7.98 billion Swiss francs ($7.99 billion) in 2017.
Sales from its watches and jewelry segment, which includes brands like Tissot and Longines, rose about 11 percent, contributing 8.21 billion francs ($8.22 billion) to the total, compared with sales of 7.73 billion ($7.74 billion) francs a year ago.
Annual net income totaled 867 million francs ($868.28 million), a nearly 15 percent jump compared with 755 million francs ($756.12 million) in 2017.
Swatch Group USA saw double-digit sales growth and market share gains in every segment, according to the annual report.
The strongest sales growth stemmed from the prestige and luxury range, specifically Blancpain, Omega and Longines.
The highlighted brands increased their visibility through events and sponsorships throughout the year.
Blancpain touted its Fifty Fathoms Collection, both a tribute to the marine world and a call for ocean
Omega showcased its watches during sporting events, including the PyeongChang Games and the Youth Olympic Games in Buenos Aires, Argentina. The brand was also as an official patron and watch of the PGA Championship.
Longines served as the official timekeeper and watch of the Kentucky Derby and Belmont Stakes, presenting an exhibition on the history of the brand in the United States.
Sales from Swatch Group’s electronics segments, which includes batteries and crystal for watch cases, rose about 2 percent to 273 million francs ($273.4 million) compared with 267 million francs ($267.4 million) the previous year.
Looking to the year ahead, Swatch Group is forecasting “healthy growth”, specifically in Japan and the U.S., and expects to resolve the production problems that led to delivery delays for Omega and Longines.
The Latest
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
LVMH said the company performed well despite an uncertain geopolitical and economic environment.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.
Its updated book for mountings is also now available.
She has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Joyce’s Jewelry sued the bank after cybercriminals drained its accounts of nearly $1.6 million through a series of wire transfers.
He is remembered by loved ones for his loyalty, integrity, and kindness.
Hosted by Freeman’s | Hindman, the sale will take place May 7-8.
The auction house said all 24 timepieces offered in its underground sale of rare and avant-garde watches quickly found buyers.
From lab-grown diamonds and AI to the inevitable Taylor Swift mention, here are some of Conclave’s most intriguing educational offerings.
From cybersecurity liability to trade show coverage, insurance experts share tips on how to build the right policy.
The charm is a modern rendition of the evil eye amulet that has been worn for thousands of years.
Ahead of its trade show next month, TJS awarded free registration and accommodations to one jewelry professional and three students.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Members can still sell lab-grown stones, it said, but only natural gems are allowed on the show floor.
He is remembered for his charisma, passion, integrity, kindness, and wit.
The retailer also appointed two new board members, avoiding a proxy fight from a potential buyer.
The bridal collection consists of 35 engagement rings and seven wedding bands.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
The family-owned jeweler has a new education section on its website dedicated to the history of diamond cutting.
The limited-edition men’s rings can be customized with one of 12 team logos.
There is a willingness to comply with new government-mandated regulations, with an insistence that they should be practical and realistic.
The program, now live in Europe, will roll out to the U.S. this summer.
Colored gemstones and signed jewels are the focus of its upcoming Geneva sale.