IWS - ItalianWatchSpotter

Swipe to see the 2024 Grand Prix d'Horlogerie de Genève - GPHG winners! Which watch surprised you the most?

Deloitte and Watch Femme conducted a study to explore the evolution of the women’s watch market. Over 6,000 women, both collectors and non-collectors, were surveyed across 12 key watch markets. The results? More women are buying watches for themselves, choosing gender-neutral models, and showing an increasing preference for online shopping. Swipe through to see the details. Which finding surprises you most?

After acquiring a 20% stake in F.P.Journe - Invenit et Fecit in 2018, the renowned fashion house CHANEL strengthens its presence in the high-end watchmaking sector by acquiring 25% of MB&F. Frédéric Grangié, President of Chanel’s watch and fine jewelry division, described this move as part of the brand’s “long-term strategy to preserve, develop, and invest in specialized expertise, reaffirming our position in high-end watchmaking.” What do you think about this strategy?

Changes are in the air at LVMH. Frédéric Arnault has announced several new appointments in the Watch division, effective from September 1, 2024. After 12 years at the helm of Hublot, Ricardo Guadalupe is stepping down from operational management and has been named Honorary President of Hublot. Julien Tornare, currently CEO of TAG Heuer, will become CEO of Hublot, while Antoine Pin will take over as CEO of TAG Heuer.

More and more celebrities are investing in luxury watchmaking. After Cristiano Ronaldo with Chrono24, Jay-Z has also acquired a stake in the luxury watch trading platform WRISTCHECK. Austen Chu, the founder of the platform, stated in a press release: "As an entrepreneur, Jay-Z has always been a source of inspiration for me." "I remember growing up with his music: his lyrics not only introduced me to brands like Audemars Piguet but also further fueled my love for watches, as he bridged the gap between watches and pop culture."

What were the most important results of the New York auctions? Once again, Christie's, Phillips, and Sotheby's confirm their prestige with an excellent selection of watches. Among the standout lots from the various auction houses were the Philippe Dufour Duality, the Cartier Baignoire Allongée in yellow gold, and the Patek Philippe Ref. 6300 in white gold that belonged to Sylvester Stallone, sold for $5,400,000. Read our article to find out more.

From 1st September 2024, Louis-A FERLA will replace Cyrille Vigneron as Chief Executive Officer of Cartier. After eight years at the helm of the second-largest Swiss watch brand by revenue, Cyrille Vigneron is stepping down from his position and taking on the role of Chairman of Cartier Culture & Philanthropy. The next CEO of Cartier, Louis-A FERLA, joined Richemont in 2001 at Alfred Dunhill. In 2006, he joined Cartier, holding various senior management roles. In 2017, he assumed the role of CEO of Vacheron Constantin.

According to Bloomberg, Bernard Arnault, CEO and majority shareholder of LVMH, has allegedly acquired a "private" stake in rival group Richemont. Although neither group has commented, the news of this acquisition has caused Richemont's share price to rise by 2.6%. This portfolio integration would allow LVMH to quadruple its market share to approximately 25% and increase the contribution of the Watches and Jewellery unit to total sales, rising from around 13% to approximately 33%, according to 2023 data from Morgan Stanley and Luxeconsult. LVMH also announced the purchase of SWIZA, owner of L'Epée 1839. What do you think of Arnault's strategy?

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