“They hoard their most desirable watches for their own boutiques, force less popular pieces on their partners and price them in such a way that the only way to shift them is out of the back door on the grey market.” That’s watchpro.com‘s Rob Corder’s take on the war between watchmakers and retailers. No question: the watch industry is in turmoil. And not just at the sharp end. LVMH is bailing on their deal to buy Tiffany & Co. . . .
Swiss horology has a Holy Trinity: Patek Philippe, Vacheron Constantin and Audemars Piguet. They’re also known as the New King, the Old King and the Young Prince. While this doesn’t provide a complete picture of modern haute horlogerie, it’s true: Patek Philippe rules . . .
“Why do people pay the enormous price premiums for luxury brands?” consultant Daniel Langer asks at scmp.com. “Most people perceive luxury as mainly bought to signal power. But what if this answer is too simple? What if there are other hidden reasons?” Like an appreciation for luxury watches’ design, construction and heritage? Mr. Langer has other ideas . . .
“As countries around the world contend with the health emergency, the economic effects of suspending almost all activity have inevitably impacted the Swiss watch industry,” Monochrome.com reports, “and will continue to do so for months to come.” The latter part of that statement – predicting a “challenging” future for Swiss watch exports – reflects the industry’s growing realization that Coronageddon is a lot more than a flesh wound. The May numbers tell the tale . . .
“Maurice Fayne has been arrested and charged with federal bank fraud after misusing funds from a Paycheck Protection Program loan,” cnn.com reports. That would be one Arkansas Mo, “star” of VH1’s 151-episode “reality” show Love & Hip Hop: Atlanta. Here’s how Mr. Mo flamed out . . .