Fanny Tang

On the occasion of the European Heritage Days, Cartier will unveil its Cartier Jewelry Institute to the public on September 16th and 17th, 2023, in Paris.

Yesterday, Wednesday 26 July, Moncler Group reported a +24% increase in consolidated revenues, reaching over 1.1 billion euros. This robust growth was uniformly reported across the Group’s all geographical markets, with Asia singled out (+39%) as a particularly strong performer.

Panerai opens its largest boutique, Casa Panerai, in New York City. To celebrate the grand opening, the brand unveils two timepieces: the Radiomir Tourbillon Bronzo and the limited-edition Luminor BiTempo New York Edition.

Hermès recorded strong sales growth of 22% at the current exchange rate, in the first quarter of 2023, with a consolidated revenue of 3.380 million euros. The group confirmed strong momentum in all the geographical areas and business lines.

The situation seems optimistic for both companies, with L’Oréal reporting an increase of +18.5% in sales compared to 2021 and strong Q2 sales performance for Coty despite the business exit from Russia and the inflationary environment.

Swatch has teamed up with Blancpain to launch the Bioceramic Scuba Fifty Fathoms collection. Drawing inspiration from the five oceans, the series incorporates technical innovations.

Expanding its luxury hospitality portfolio, Bulgari unveiled ninth jewel in the Bulgari Hotels & Resorts collection, the Bulgari Hotel Roma.

«Daigou», the Chinese reselling market of products bought abroad by private individuals, impacts luxury due to its opaque networks and prices. The lack of traceability generates risks of counterfeiting and strong image damage.

Even though the perception of beauty is subjective, the importance of understanding its cultural distinctiveness is strategic to avoid slip-ups. Western luxury brands established in the Chinese market are facing the necessity of adapting their perception of beauty to local cultural norms.

Swiss Prime Site group has decided to redevelop the Jelmoli building on Zurich’s Bahnhofstrasse starting at the beginning of 2025. The transformation aims to reposition the building adding new features that better fit the market demand with a new operating model.

Richemont has recently made an addition to its portfolio, acquiring a controlling stake in the high-end Italian shoemaker, Gianvito Rossi. This strategic partnership was announced on Friday 28th of July, after the group’s stable financial performance in Q1 2024 ended 30 June 2023.

Girard-Perregaux and Saint Laurent Rive Droite join forces to reimagine the iconic 70s Casquette watch. The new Casquette 2.0 Saint-Laurent 01, limited to 100 pieces, this is the first time the Kering group worked again with Girard-Perregaux since the brand was sold in 2022.

Audemars Piguet has launched a limited edition Royal Oak Concept Tourbillon « Spider-Man » watch, continuing its collaboration with Marvel. The launch is accompanied by a Christie’s auction in Dubai’s Central Park Tower, featuring a unique piece, the « Black Suit Spider-Man », with proceeds going to support the educational initiatives of First Book and Ashoka, two US-based non-profit organizations.

The British auction house Christie’s has set an online sales record for a wristwatch in Hong Kong. On March 22, 2023, the Patek Philippe « Sky Moon Tourbillon » reached the exceptional price of 5.8 million dollars. This makes it the most expensive watch ever sold at an online auction.