The world's biggest watch group Swatch said on Tuesday its net profits jumped 18.1 percent to 1.3 billion Swiss francs (1,1 billion euros, $1.4 billion) in 2011 and it expected to sustain growth this year.
The street rue de la Paix, a historical venue for jewelry by the Place Vendome, is now poised to become one of Paris’s main venues for luxury watches with two new stores from Vacheron Constantin and Breitling respectively.
A few days after the announcement of a vast relaunch plan for his eponymous label, Karl Lagerfeld unveiled that he has signed a licence with Fossil to create a line of watches set to launch in Spring 2013.
Swiss exports rose 2.5 percent to 16.6 billion francs (13.75 billion euros, $18.32 billion) in September despite the strong Swiss currency, with the watch and jewellery sectors leading the growth.Watch exports were up 21 percent to 1.
The swiss watch brand's next collaborative effort will be lead by the Chinese designer Uma Wang. Regarded as one of the most promising young talents of the Chinese fashion scene, Wang will create three models for Swatch.
French handbag maker Hermes said on Thursday its watch unit was taking a 32.5 percent stake in family-owned Swiss watch case maker Joseph Erard, in the latest sign that big luxury groups are keen to snap up watch part makers.