Pins matching tag:Watches

Rolex said it will buy Bucherer, the world's largest watch retailer with more than 100 stores in seven countries, after owner Jörg Bucherer decided to sell with no heirs to take over the business.

Chanel opened a two-story, 3,200-square-foot boutique dedicated entirely to Watches and Fine Jewellery at 730 Fifth Avenue in Manhattan's landmark 1921 Crown Building, its first store of this kind in the United States.

A 39% US tariff on Swiss goods took effect under Executive Order 14308, hitting Switzerland's watch industry harder than almost any other sector; Swatch Group CEO Nick Hayek warned prices would have to rise, and FH figures later showed Swiss watch exports to the US falling 55.6% year-on-year by September.

The US and Switzerland reached a deal cutting the tariff on Swiss goods, including watches, from 39% to 15%, after Switzerland pledged $200 billion in US investment by the end of 2028.

Rolex increased recommended retail prices worldwide as 2026 began, by roughly 2.5% to nearly 6% depending on model and material, with gold references such as the yellow gold Daytona and Submariner rising by about 5.7-5.8%.

LVMH's first-quarter 2026 revenue fell 6% on a reported basis to €19.1 billion, though organic revenue still grew 1%, as the group said the conflict in the Middle East cut about a point off underlying growth.

The watch industry's flagship fair, Watches and Wonders Geneva, opened its 2026 edition at Palexpo, running four trade days followed by a public weekend from 18 to 20 April.

Patek Philippe unveiled 20 new watches at Watches and Wonders Geneva 2026, headlined by the CHF 350,000 white-gold Ref. 6105G Celestial Sunrise/Sunset, its first wristwatch to show sunrise and sunset times adjustable for summer and winter time, alongside its first automaton wristwatch and four Nautilus 50th-anniversary pieces.

Phillips' Geneva Watch Auction XXIII totalled CHF 74,846,995 across 225 lots, the highest total for any watch auction in history, led by a Patek Philippe Ref. 2523 'Polychrome Two-Crown World Time' that sold for CHF 7,961,000.

Audemars Piguet and Swatch launched the 'Royal Pop' collection, eight Bioceramic pocket watches built around the Royal Oak's octagonal design and priced from $400, sold only in person at 200 Swatch stores worldwide with a one-per-person daily limit.

Richard Mille unveiled the RM 64-01 Tourbillon Colnago, a CHF 800,000 manual-winding tourbillon in azure blue and white Quartz TPT with a 5N red-gold flange and crown, developed with Italian bicycle maker Colnago in a 50-piece limited edition.

Swatch Group posted CHF 3,121 million in first-half 2026 net sales, up from CHF 3,059 million a year earlier and 8.5% higher at constant exchange rates, even as a stronger Swiss franc cut nearly CHF 200 million from the reported total.

LVMH's first-half 2026 revenue was €38.6 billion, down 3% on a reported basis, as organic revenue rose 2% and growth accelerated to 3% organically in the second quarter, with net profit steady at €5.7 billion.

Phillips will hold The Geneva Watch Auction: XXIV over two sessions on 7 and 8 November 2026 at the Hotel President Wilson, offering 221 lots led by a stainless-steel Patek Philippe Ref. 1436 split-seconds chronograph from 1945 estimated at up to CHF 4,000,000.

Swatch Group's investor calendar lists mid-March 2027, with the exact date still to be confirmed, for its Annual and Sustainability Report covering fiscal year 2026 - the group's next full results release after first-half 2026 sales growth.

Watches and Wonders Geneva announced its 2027 edition will run 5 to 11 April at Palexpo, adding new exhibitors Breitling, Gallet, Universal Genève and the Italian jeweller Damiani.