Watches NEWS
Industry Massive Shakeups at Richemont, Abolishes CEO Role, IWC's Kern Head of Watchmaking and Montblanc's Lambert Head of Operations - Monochrome Watches
Telling you that the watchmaking industry is now facing some troubles won’t be the biggest piece of news you’ll have today. It is now known; the Swiss industry is in tough period, sales are decreasing, profits are lower and stocks are massively increasing at retailers. This situation seemed to be quite a secret for a year or so, but now, large groups – mainly those listed and that must report to shareholders – are making things clearer and?the situation really becomes public. As a proof, yesterday Richmont Group, the second largest actor in the field of luxury watchmaking (owner of Cartier, IWC, Jaeger, Montblanc and more)?announced declining results,?abolished?CEO Role and?unveiled a major?sweeping management overhaul – as?IWC’s Kern will become Head of Watchmaking and Montblanc’s Lambert Head of Operations.As reported by Bloomberg here, massive changes are about to come at Richmont Group. As a reminder, Richemont Group, a Swiss Group listed a
Business Swatch Group 2016 Results Worse Than Expected / Net Sales Drop Over 10%, Net Income Drops 47% - Monochrome Watches
For more than 2 years now, the watchmaking industry is facing a “crisis” or at least, sales and profits are lower than in the 2000s, the golden era of modern watchmaking. After Richemont announced massive shakeups and rather bad results, it’s now time for Swatch Group to make public the results for the year 2016… and they’re?not good. Sales are decreasing over 10% (compared to 2015), operating result plunges of close to 45% and the net income is almost half of what it has been in 2015 (which was already not the best year the industry has seen).Here are the key figures for Swatch group in 2016: Net sales of CHF 7,553 million for the Group, at current exchange rates, a decrease of 10.6% (or a minus of 10.8% at constant exchange rates). Net Sales were CHF 8,451 in 2015. Operating result of CHF 805 million, equivalent to an operating margin of 10.7% (minus 44.5% compared to previous year). Operating result was CHF 1,451 in 2015. Net income of CHF 593 million,
TAG Heuer Monaco Heuer 02 In-House CBL2111.FC6453 - Hands-On (Specs & Price)
The 50th-anniversary celebrations of the iconic Monaco watch and its early automatic chronograph movement aren’t over yet – it’s still 2019 after all. Yet, after a series of super-limited editions, one for each decade, it is time to come back to regular production watches. On the occasion of this commemorative year, TAG makes an important move on its classic blue dial, 3 o’clock-crown Monaco – the modern one, not the Steve McQueen-inspired model. Say goodbye to the Monaco Calibre 12 and its outsourced movement; say hello to the new TAG Heuer Monaco Heuer 02, with the brand’s own chronograph movement.BackgroundWe’re not going to review the full history of the Monaco here, but we’re going to focus on the TAG Heuer era. If you want the full story of the Heuer Monaco (understand the 1969 model), we’ve recently produced an in-depth video that will tell you all about this iconic chronograph watch. Ad - Scroll to continue with a
A tribute to all-round racing driver 'Quick' Vic Elford.
Earlier this week, news broke of the passing of Quick Vic' Victor Henry Elford, at the age of 86. Vic Elford was one of those drivers that pretty much raced anything that had four wheels, an engine and a steering wheel. With a career starting in a Triumph TR3A, he is most known for his successes at the wheel of various Porsche cars, both on and off-road. Basically, if you would have put Vic Elford into a racing car, chances would have been he'd be competing for the win. And with that in mind, I feel it is fitting to pay the man a little tribute in today's Petrolhead Corner.‘Quick’ Vic Elford – 1935-2022 – Image by Total911.comVictor Henry Elford started racing at the age of 26, which was considered rather late at the time. During his career, which spanned more than two decades, he raced in everything from Mini to Triumph, Ford, Alfa Romeo, Lancia, Ferrari, Lola, Cooper, Chaparral and more. He was a Porsche-works driver for 5 years, which saw him achieve his bigg
Norqain Freedom 60 GMT & Freedom 60 39mm (With Price)
Even though the brand is still young, Norqain is a brand to follow. Created in 2018 in Nidau, Switzerland, the brand has unveiled many models to create a comprehensive and coherent collection of functional and adventure-inspired watches. And in terms of production and strategy, the roadmap is pretty clear and includes a strategic partnership with Kenissi to provide manufacture movements. Today the brand launches two new models in the Freedom collection, with new complications, sizes, materials and now fitted with COSC-certified manufacture engines. Meet the new Norqain Freedom 60 GMT & Freedom 60 39mm, including some bronze editions.It takes more than just luck and ambition to achieve this level of integration and development after only two years of existence. Norqain has a solid strategy and introduces products that are coherent, well executed and, more surprisingly, powered by solid movements made by Kenissi (owned by Chanel and Tudor/ ). This partnership was announced earlier th
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