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☆ China’s growing love of luxury watches remains strong, despite economic headwinds
▼ + stars: | 2024-04-19 | by ( Leona Liu | ) edition.cnn.com time to read: +9 min

Despite economic challenges looming large — including prolonged downturns in both the housing and stock market — China’s fascination with luxury watches remains undiminished. Cyril Zingaro/WWGF/KeystoneCertainly at this year’s fair, well-dressed, well-accessorized Chinese customers appeared unfazed by economic uncertainties. After more than 20 years working in the region, he believes China’s economic slowdown is just a temporary phase. “The situation may be slightly (more) challenging for mid-level luxury brands (whose clients’ disposable incomes are potentially more at the whim of market forces). Collectors appreciate the craftsmanship, rarity, and heritage associated with luxury timepieces, which can hold or increase in value over time.

Persons: Matthieu Humair, Cyril Zingaro, Jackson Yee, Jaeger, Zhu Yilong, Wang Yang, Xiao Zhan, David Sadigh, Patek Philippe, Van Cleef, ” Sadigh, Valentin Flauraud, ”, Ricardo Guadalupe, “ We’ve, Pierre Albouy, Keystone Carson Chan, Richard Mille Asia, Bonhams, ” Chan, Raphael Young, Lange, Söhne, Wilhelm Schmid, Lumen, Chan, Vacheron, Young, Roger Dubuis, Dior, Louis Vuitton, Gucci — Chanel, Hermes, Hermès, Attelé, Chanel, Mademoiselle Chanel, “ Organizations: Geneva CNN —, Federation of, Swiss Watch Industry, IWC, Digital Luxury, CNN, Keystone, Fondation, “, Berkley, Couture Locations: Geneva, China, Hong Kong, Asia, Switzerland, Chopard, Europe, “, Asia — China, Guadalupe, Swiss, watchmaking

☆ Watches and Wonders 2024: The best women’s watches on show
▼ + stars: | 2024-04-09 | by ( Sarah Royce-Greensill | ) edition.cnn.com time to read: +7 min

Women’s watches have undergone something of a transformation in recent years, moving beyond an outdated “shrink it and pink it” design school of thought. Courtesy HermèsThe Cut is Hermès’ first new, in-house-designed women’s watch for 20 years — and it’s worth the wait. It also comes in rose gold, diamond-dusted white gold, and in two seriously special High Jewelry iterations which feature stripes of coloured hardstones. Courtesy ChopardBaby blue seems to be the hue for women’s watches this year, and Chopard’s new Happy Sport is a delicious example. Continuing the blue theme, it eschews razzle-dazzle for a confidently chic combination of white gold and lustrous lacquer, in a newly slimmed-down silhouette.

Persons: Patek Philippe, Cartier, Chanel, Couture, Boyfriend Couture, Chanel Chanel’s Couture, Coco Chanel, Van Cleef, Van, you’d, Carrera, Piaget Piaget, They’re, Vacheron Constantin Grand Lady Kalla Vacheron Constantin Grand Lady, Constantin Vacheron Constantin, Kalla Organizations: CNN, Chopard, TAG, IWC, Schaffhausen Locations: Geneva, Switzerland

☆ A Hollywood director took millions of dollars in Netflix funding and used it to trade options and crypto, report says. Here's a closer look at how he used the cash.
▼ + stars: | 2023-11-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

A movie director used Netflix funds to trade options and cryptocurrencies, The New York Times said. "47 Ronin" director Carl Erik Rinsch bet on Gilead Sciences and dogecoin, and against the S&P 500. He lost $6 million on options, but a winning bet on dogecoin boosted his balance to $27 million. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementA Hollywood director took millions of dollars of production funding from Netflix and used it to trade stock options and cryptocurrencies, The New York Times said on Wednesday.

Persons: Carl Erik Rinsch, dogecoin, —, Here's, Carl Erik Rinsch's, Rinsch's, Rinsch, Gilead, Dogecoin, Constantin, Rinsch didn't Organizations: The New York Times, Gilead Sciences, Service, Netflix Locations: The, Gilead

☆ Cartier owner Richemont sees growth easing as economic worries rise
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

Richemont's constant currency sales growth eased from a 19% rate in the April to June period to a 5% rate in the following three months. The company posted a profit of 1.51 billion euros, worse than the 2.17 billion euros forecast by analysts in a consensus cited by Zuercher Kantonalbank. "Growth eased in the second quarter as inflationary pressure, slowing economic growth and geopolitical tensions began to affect customer sentiment, compounded by strong comparatives," said Chairman Johann Rupert in a statement. "Consequently, we have seen a broad-based normalisation of market growth expectations across the industry." While jewellery - traditionally more resilient to economic swings - continued to shine with constant currency sales up 9%, watch sales fell 4%.

Persons: Regis, Cartier, Vacheron Constantin, LVMH, Zuercher Kantonalbank, Johann Rupert, Kepler, Jon Cox, John Revill, Mimosa, Miranda Murray, Shri Navaratnam, Tomasz Janowski Organizations: Cartier, Vendome, REUTERS, Rights, IWC, Thomson Locations: Paris, France, Swiss, United States, Europe, China

☆ Put a Louvre Masterpiece on Your Wrist
▼ + stars: | 2023-08-09 | by ( Nazanin Lankarani | ) www.nytimes.com time to read: 1 min

The enameled dial of a new custom watch by Vacheron Constantin depicts grimacing soldiers and their lunging horses, all engaged in deadly combat. Unveiled in May, it is the Swiss watchmaker’s reproduction of “The Fight for the Standard” from the “Battle of Anghiari,” a 1603 drawing by the Flemish artist Peter Paul Rubens that is kept — behind the scenes, and viewable by appointment — in the Department of Graphic Arts of the Louvre in Paris. “This timepiece is the first in a new program called ‘A Masterpiece on the Wrist’ we have developed with the Louvre,” Christian Selmoni, the watch brand’s director of style and heritage, wrote in an email. “We invite clients to choose from a catalog of works defined with the museum, and we will reproduce the artwork on the dial of a unique watch.”

Persons: Vacheron Constantin, grimacing, Peter Paul Rubens, —, ” Christian Selmoni, “, ” Organizations: of Graphic Arts, Louvre Locations: Swiss, Anghiari, ”, Flemish, Paris

☆ How 'Birkin Bandit' George Mickum Infiltrated NYC Society
▼ + stars: | 2023-07-12 | by ( Kate Taylor | Anna Silman | ) www.businessinsider.com time to read: +52 min

"He would know people's weaknesses and what they wanted and somehow always have something to offer," a former close friend said. Another close friend said Mickum once gave her a $1,000 loan "within minutes" when she needed it because of a credit-card crisis. He never "let the truth get in the way of a good story," a former close friend said. Hermès bags, like the Birkin and the Kelly, have always been symbols of unattainable luxury. There wasn't even a dust bag; Mickum claimed his mom's assistant would drop it off later.

Persons: George Mickum strode, Carlyle, Patty Hearst, He'd, Mickum, Birkin, swilling, Patty's, Gillian Hearst, Mr, George Mickum, Gillian Hearst's, George, Sally Painter, who'd, Peter Davis, Jackie O, Barbara Walters, Alessia Fendi, influencer Hannah Stella, Nick Hissom, Steve Wynn, Hearst, they'd, Prince Charles, Anna Delvey, Patty Hearst's, Rumor, he'd, wasn't, Met Breuer, Peter Poopat, George Santos, Trinity, Elisabeth Thieriot, Thieriot, Hermes, —, Painter, Paul Mickum, George Mickum III, Sally, Painter's, Poopat, PJ Pascual, Patrick McMullan, Ramona Singer, Lauren Lawrence, Lawrence, Van Cleef, Nicole Salmasi, Trudy, Mike Vitelli, Eric Schmidt, Schmidt, Eric, R, Couri Hay, They're, Astor, William Randolph Hearst, Orson Welles, Kane, Gillian's, Bill Clinton, Patty, Bernard Shaw, Gillian, Lydia —, Shaw, Maxim, Lydia, Kane we're, Christian Simonds, Pierre, Krista Corl, Dee Dee, Scott Buccheit, Naeem Delbridge, Pascual, who's, We're, buttering, Simonds, Matthew Kehoe, England, — Hearst, Delbridge, Hearst's, Mario Glen Coco, Hearsts, Astrid Stawiarz, Tiger Woods, Ernie Els, Justin Timberlake, Joe Lewis, Buccheit, Mary McCarthy, Lillian Hellman, Mickum's, Christie Grimm, Steve, Kameron Ramirez, Hissom, Ramirez, Nick, Hunt, Damien Hirst, Douglas Elliman, Harry Winston, David Fiszel, invitees, Fiszel, Darian, Winston, Martha Stewart's, Mendel minks, Vacheron Constantin, Tao, Melinda French Gates, Shawn Mendes, Bill, Hillary Clinton, Neiman Marcus, Damien Hirst's, Damien, weren't, Kelly, Alexis Clarbour, Clarbour, Paul Wharton, you've, Wharton, Sean Zanni, Michael Coste, Hannah Stella, Coste's, Stella, Scott Fitzgerald, Coste, Goodman, Courroies Birkin, didn't, Aman, Cartier, Mickum's bluster, skeptically, satchel, Clarbour's, He's, We've, Sider, Philippe, Buccheit texted Pascual, he's, Hay, Café Carlyle, Alexander Hankin, Burisma, Hunter Biden, Mickum hasn't, There's, They've, Amy X, Wang, King Charles, Tracey Amon, Amon, GEORGE MICKUM Organizations: Hearst, Blue, Potomac, Hamptons, East, Met, University of Delaware, Southampton Bathing Corporation, Fields School, Georgetown Law, DC, Town &, New York Daily News, The New York Times, Google, Carnegie, Rockefeller, Cosmopolitan, Symbionese Liberation Army, Hearst Corporation, Vogue, Society of Memorial Sloan Kettering, Stockbridge Golf, New, Tiger, Tottenham, Douglas, Martha Stewart's Hamptons, Mickum, Projects, Madison, Getty, Antibes, Nike, Rue du Faubourg Saint, Couture, US, UN, New Yorkers, Avenue Couture, Hermès, Republican, Justice Department, Blue Star, Town, New York Times Magazine Locations: Bemelmans, Clinton, York, Palm, New, London, Manhattan, Dalton, Bay, Windsor Castle, Haute, Washington , DC, New York, Baccarat, The, San Francisco, Wilton , Connecticut, Side, Wyntoon, California, Buccheit, woodsy Stockbridge , Massachusetts, Stockbridge, Bahamas, Albany, Nobu, Martha, Peking, Paris, Istanbul, St, Georgetown, China, Italy, Hermès, Amalfi Coast, du, Midtown, brunch, Rue, Central Park, Mickum, Turkey, La, Café, Ukrainian, Ukraine

☆ Pension reform defiance brings new blood to French trade unions
▼ + stars: | 2023-05-18 | by ( Leigh Thomas | ) www.reuters.com time to read: +5 min

Interest is growing among younger and private sector workers, where unions tend to be less well represented. Vacheron said that more than 30% of the CGT's recent joiners were under the age of 35 while 70% were coming from the private sector, which traditionally is dominated by the CFDT. "Since the retirement reform is contested by the young and old, public and private sector workers, they see a utility in belonging to unions, unions are attractive," Vacheron said. "Unions are rebuilding themselves from the ground up through recruitment and not only street protests," sociologist Michel Wieviorka said. Labour relations consultant Stephanie Matteudi-Lecocq said that the momentum coming from pension reform pushback could ultimately put unions back on more solid footing in companies.

☆ The Best New Watch Designs of 2023
▼ + stars: | 2023-04-03 | by ( Jenny Hartman | ) www.wsj.com time to read: 1 min

Photo: From left: courtesy of patek philippe, courtesy of van cleef & arpels, courtesy of zenith, courtesy of cartier, courtesy of chopard, COURTESY OF vacheron, courtesy of rolexThis past week, the watch world flocked to Geneva for Watches and Wonders, the industry’s largest and most closely watched fair, where nearly 50 brands and manufacturers unveiled their latest designs. At the event, brands including A. Lange & Söhne, Zenith and Panerai focused on their sportier and more utilitarian models, introducing new interpretations of the classics with a mix of vintage-inspired details and, in some cases, a new minimalism. Rolex introduced the 1908 Perpetual, a sleek and dressy timepiece that launches a new line of watches for the brand. Striking new jewelry pieces from companies like Chanel and Van Cleef & Arpels added a lighthearted approach to serious gemstones and gold.

☆ Why now may be a good time to buy a used Rolex — if you plan to keep it
▼ + stars: | 2023-02-17 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Prices for pre-owned Rolex watches have been on the slide for almost a year after posting record highs. The biggest reason for the price decline, analysts say, was a surge of additional watches to the market. Watch prices quickly followed suit, entering a months-long decline that is only now beginning to show signs of leveling off. But the tumbling price of used luxury watches like Rolex, Audemars Piguet, and Patek Philippe can also be explained by a simple economics principle: supply arriving to meet demand. "The price correction was mainly driven by the increase in supply," wrote Morgan Stanley equity analyst Edouard Aubin and colleagues.

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