“We are going to [see a] dematerialisation of retail,” Audemars Piguet CEO François-Henry Bennahmias pronounces in an interview with WatchBox. “I don’t need four walls to sell you a watch tomorrow.” (No word on how Audemars Piguet dealers feel about their dematerialisation.) According to watchpro.com, Bennahmias’ bet on online/home visit sales is based on . . .
The Swatch Group has just released their 2020 half-year financial report [click here for pdf]. The announcement revealed the combined worldwide numbers for Breguet, Harry Winston, Blancpain, Glashutte, Jaquet Droz, Leon Hatot, OMEGA, Longines, Rado, Union Glashutte, Tissot, Balmain, Certina, Mido, Hamilton, Calvin Klein, Swatch and Flik-Flak. As our headline reveals, Swatch profits tanked . . .
Earlier this week, Rolex, Chopard, Patek Philippe, Chanel and Tudor bailed on Baselworld, condemning the convention to the dustbin of history. In case anyone thought otherwise, TAG Heuer, Hublot and Zenith joined the exodus the next day. They’re all throwing in their lot with Watches & Wonders. Assuming a vaccine by spring 2021, same as it ever was? . . .