Yesterday, Watches of Switzerland revealed that it was pantsed by Coronageddon. Today, Richemont – the world’s third largest luxury goods conglomerate – reported their progress. How goes the battle for A. Lange & Söhne, BAUME, Baume & Mercier, Cartier, Van Cleef & Arpels, IWC Schaffhausen, Jaeger Le-Coultre, Panerai, Piaget, Roger Dubuis, Vacheron Constantin, Montblanc and Watchfinder & Co.? There are two key takeaways . . .
Coronageddon is raging worldwide. A year from now, a vaccine will hit the streets and life will return to normal. Not all watch brands will be around to enjoy pent-up consumer demand. Meanwhile, new product keeps flowing into a hugely diminished market – big bargains are on their way. Here’s this week’s New Watch Alert . . .