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Top related persons:
Jean - 1 Frédéric Dufour - 1 NZZ - 1 — - 1 Dufour - 1 who's - 1 NZZ he's - 1 Patek Philippe - 1
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Rolex - 1 Federal Reserve - 1 Service - 1 Swiss - 1 NZZ - 1

Search resuls for: "Thierry Stern"


2 mentions found


☆ Stop thinking your expensive watch is an investment, says Rolex boss
  + stars: | 2024-04-17 | by ( George Glover | ) www.businessinsider.com   time to read: +2 min
Secondhand watch prices have tumbled since the Federal Reserve started raising interest rates. His comments as secondhand watch prices slide after spectacular pandemic-era growth. Watch prices started dropping as the Federal Reserve started raising interest rates. Dufour, who's been Rolex CEO since 2015, also told NZZ he's expecting a "challenging" year. Luxury watch companies such as Rolex, Patek Philippe and Audemars Piguet can't necessarily cut prices to stimulate demand, he added.
Persons: Jean, Frédéric Dufour, NZZ, —, Dufour, who's, NZZ he's, Patek Philippe, Audemars Piguet, Thierry Stern Organizations: Rolex, Federal Reserve, Service, Swiss, NZZ
☆ Swiss watch execs say the market is 'slowing down' — but that just means waitlists for new Rolexes or Patek Philippes are a little less long
  + stars: | 2023-04-12 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +2 min
The frenzy for new Swiss luxury watches is softening from its pandemic peak, when exports hit $27.6 billion. "The market is a little bit slower than before," Patek Philippe chairman Thierry Stern told Bloomberg. That doesn't mean watches from top brands are suddenly available to buy — it just means waitlists are slightly shorter. "I see in the past two months, the market is a little bit slower than before," chairman Thierry Stern told Bloomberg. Swiss exports boomed during the pandemic to a record 25 billion Swiss francs ($27.6 billion), but even with the recent softening, Stern told Bloomberg demand still vastly outstrips supply.
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