At the beginning of July, Federal Councillor Guy Parmelin undertook an official mission to China, accompanied by representatives of the Swiss business and scientific communities, including the FH. Discussions focused on the need to modernise the free trade agreement and to protect intellectual property and the fight against counterfeiting.
At the end of the first half of 2024, the Swatch Group reported net sales of 3.5 billion Swiss francs, a 10.7% decline compared to the same period last year. For the second half of the year, the watchmaking giant expects a much-improved situation.
On 25 June 2024, LVMH announced the acquisition of Swiza, owner of L’Epée 1839, a Swiss manufacturer of high-end clocks. This takeover is further proof of the LVMH Group’s determination to preserve and develop historic savoir-faire, and to ensure that it is passed on and cultivated over time.
At the end of the first quarter of its 2024-2025 financial year (April to June), despite persistent macroeconomic and geopolitical uncertainties, the Group announced a sales held up well (-1% at actual exchange rates, +1% at constant rates). In all, the company recorded sales of 5.27 billion euros.
Swiss watchmaking followed the rest of the luxury goods sector by operating at two different speeds in the first half of 2024. On the one hand, China, which is facing a crisis in the property sector, a high youth unemployment rate, a lacklustre economy and a deterioration in the climate of trust, saw a marked decline (-21.6%), dragging Hong Kong (-19.9%) in its wake. On the other hand, the rest of the world produced a slightly positive result (+1.0%), confirming the high-level consolidation initially expected for the sector this year.
Ever since it was founded in 1904, the Hölstein-based watchmaking company has been deeply attached to Nature and the beauty of the valley surrounding it. Over the course of its 120-year history, its out-of-the-way location has shaped a company that has been able to stand out from the crowd and follow a path that makes sense not only for the planet, but also for its loyal customers.
Renowned for its avant-garde innovations, Officine Panerai has unveiled the Submersible Elux LAB-ID, a veritable revolution in mechanical luminescence. The new PAM01800 is a watchmaking feat with a quadruple-paented system, 50 bar (~500m) water resistance and a 30-minute power light feature, all encapsulated in a 49mm case diameter.
Piaget celebrates its 150th anniversary with a virtuoso High Jewellery watch collection highlighting the extravagance and elegance of a unique style. Paying tribute to its incomparably masterful use of gold and colour, the watchmaking and jewellery Maison reinvents itself through around a hundred bold, captivating pieces where the fluidity of cuff bracelets and necklaces and the radiance of the gemstones adorning them are magnified by the excellence of savoir-faire.
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