Swiss watchmaker Patek Philippe is seeing good demand across the world, its president told Reuters on Thursday, playing down industry concerns about a potential slowdown in top luxury goods buyer China.
Luxury goods group LVMH’s watch brands will be present at the next edition of the Baselworld watch fair in March, the outgoing head of its watch division told CNN Money Switzerland, adding the show needs to make changes.
Watch brands Audemars Piguet and Richard Mille will withdraw from the Geneva watch fair from 2020 to focus on selling directly to consumers rather than via third-party retailers they would meet at the show.
Swiss watchmaker Swatch Group is quitting the annual Baselworld watch and jewellery trade fair, said a report on Sunday, calling time on an event that has been a fixture of the luxury industry calendar for a century.
A boom in online luxury goods sales is finally convincing high-end watchmakers, long sceptical that customers would pay thousands to buy intricate timepieces on the web, to step up their investments in e-commerce.
With the Baselworld luxury watch fair now underway in Basel, Switzerland, Chanel has unveiled the "Boy∙Friend Skeleton," equipped for the first time with its new Calibre 3 in-house mechanical skeleton movement.