Antonio Belloni will step down as CEO and Chairman of the Executive Committee of LVMH Group, to be succeeded by Stéphane Bianchi, current CEO of the Watches and Jewelry division.
The Swiss watch industry concluded 2023 at a high level, with a year-on-year growth of 7.6% to 26.7 billion Swiss francs compared to the previous year.
Benefiting from a 25% year-over-year increase in sales in Mainland China, Hong Kong, and Macau, the Asia-Pacific market recorded a 13% growth in sales.
In 1995, U.S. NASA astronaut Chris Hadfield, aboard the […]
“The stories and achievements of the Swiss watch industry over the past fifty years can be known and resonated with by more people through Swatch’s watches and Swatch’s collaborations.”
Overall, the Chinese market, Jewelry Division, and both retail and online retail collectively contributed 74% to the group’s sales revenue.
In the current modern world, only swift market activiti […]
For the second half of the 2023 fiscal year, the group anticipates excellent growth opportunities in all regions and across all price segments. However, the only concern is the unfavorable currency environment that could potentially pose challenges.
Despite the substantial growth rate of 158.3%, the exports to Mainland China were still down by 10.3% compared to the same period in 2021.
Is the acquisition of Swiss luxury watch brands by Chinese capital a good business move?
