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The watch company also released its second-quarter results, posting a 44 percent drop in sales.
U.S. ecommerce sales surged 122 percent in the second quarter as the COVID-19 pandemic kept shoppers at home.
The Danish jewelry company also shuttered 32 stores in the second quarter, mainly in Germany, the U.K. and the Nordic countries.
The jewelry brands’ limited exposure to the recovering Asia-Pacific market dulled their performance in the first half of the year.
Declining orders from retailers have hit TAG Heuer and Hublot hard, though TAG’s new smartwatch has “been a great success.”
More Q2 results roll in, a pair of hearts wins big at auction and BIPOC designers send a message.
The luxury titan posted double-digit declines across all regions, categories and distribution channels as COVID-19 took its toll.
The Swiss watchmaker is eliminating 2,400 jobs and closing 260 locations in an effort to downsize its retail footprint.
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Fine Jewelry Industry News

Since 1906, National Jeweler has been the must-read news source for smart jewelry professionals--jewelry retailers, designers, buyers, manufacturers, and suppliers. From market analysis to emerging jewelry trends, we cover the important industry topics vital to the everyday success of jewelry professionals worldwide. National Jeweler delivers the most urgent jewelry news necessary for running your day-to-day jewelry business here, and via our daily e-newsletter, website and other specialty publications, such as "The State of the Majors." National Jeweler is published by Jewelers of America, the leading nonprofit jewelry association in the United States.