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Calvin Klein And Swatch Group Agree To End Licensing Agreement
Swatch Announces Expiration of Licensing Agreement With Calvin Klein
Richemont Sees Alibaba JV Operational At End Of September
The Swatch Group SA is a Switzerland-based holding company engaged in the apparel and accessories industry. The Company’s activities are divided into two core business segments: Watches and Jewelry, as well as Electronic Systems. The Watches and Jewelry segment includes the production and sale of branded watches, jewelry and quartz movements, notably the brands Breguet, Harry Winston, Blancpain, Glashuette Original, Jaquet Droz, Leon Hatot, Omega, Longines, Rado, Union Glashuette, Tissot, Balmain, Certina, Hamilton, Calvin Klein watches and jewelry, Swatch and Flik Flak. The Electronic Systems segment includes the production and marketing of electronic components, notably batteries and sports timing equipment. The Company also supplies products from these segments to third-party watchmakers. Swatch Group SA is represented worldwide through its subsidiaries and distributors, notably Tourbillion and Hour Passion, and operates Swiss production plants in Boncourt, Grenchen and Villeret.
Jewelry & Silverware
Chairwoman of the Board of Directors
Georges Nicolas Hayek
Chairman of the Executive Group Management Board, Chief Executive Officer, Member of the Board of Directors
Vice Chairman of the Board of Directors
Chief Financial Officer, Member of the Executive Group Management Board
Lionel a Marca
Vice-President and Head of Technical and Development Management for Blancpain and Harry Winston, Member of the Extended Group Management Board
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Swatch Group will be free to supply mechanical watch movements wherever it wants, but won't be allowed to abuse its dominant market position by undercutting rivals' prices, Swiss competition watchdog WEKO said on Wednesday.
Swatch Group, the world's biggest watchmaker, reported its first ever half-year loss on Tuesday but founder and CEO Nick Hayek said he looked forward to a quick rebound from the COVID-19 pandemic.
Swatch Group said it expected sales and profits to improve quickly in the second half after the COVID-19 pandemic led it to post a net loss in the first half of the year.
Swatch Group appointed new heads for several of its watch brands, including Longines and Tissot, in a long expected generational change.
Swatch Group's sales at its own stores in China are up by almost a quarter during April, the watchmaker's Chief Executive Nick Hayek told Blick newspaper, but the global situation following the coronavirus outbreak remains tough.
Swiss timepiece maker Swatch Group recommended cutting its 2019 dividend by 30% while also trimming board members' fixed pay for this year, the company said on Friday, citing "drastic" consequences of the new coronavirus.
Swiss timepiece maker Swatch Group recommended cutting its 2019 dividend by 30% from original plans and reducing the fixed pay of board members by the same amount, the company said on Friday, citing "drastic" consequences of the new coronavirus.
Swatch Group is trying to maintain production at its factories despite the customer standstill hitting all businesses in Europe and the United States, the Swiss watchmaker said on Thursday.
Swiss watchmaker Swatch Group is trying to maintain production at its factories despite the customer standstill affecting all businesses in Europe and the United States, the company said on Thursday.
Swiss watchmaker Swatch Group <UHR.S> is taking a "massive" hit from the outbreak of the novel coronavirus that sharply affected business in major market China, Chief Executive Nick Hayek said in a Sunday newspaper interview.
Swatch Group has cancelled a retailer event in Zurich at the end of the month because of the coronavirus outbreak, the Swiss watchmaker said on Monday.
* Shares indicated to fall 4% in pre-market trading (Adds share price indication, analyst, details, background)
Swiss watchmaker Swatch Group said it expected sales to fall further in key market Hong Kong this year after a marked drop in sales there spoilt the picture for the world's biggest watchmaker in 2019.
Swatch will be blocked from selling some parts to watchmakers, ranging from Richemont's Cartier to Chopard and Breitling, from next year in an escalation of a row between the world's biggest watchmaker and Switzerland's competition regulator.
The Swiss competition watchdog WEKO said on Thursday it put in place "precautionary measures" to govern Swatch Group's shipments of watch mechanisms to other companies ahead of a final decision next year in a long-running dispute.
Swatch Group threatened on Wednesday to pursue damages after it said the Swiss competition authority COMCO wants to prohibit the world's biggest watch maker from supplying watch mechanisms to other companies during 2020.
A Swatch unit that supplies parts to much of the watch market faces a possible sales ban next year by Switzerland's Competition Commission (Weka), newspaper Schweiz am Wochenende reported on Saturday.
Swiss watchmaker Swatch Group <UHR.S> will no longer make watches and jewelery under the Calvin Klein brand, reducing its exposure to a price segment that is under pressure from smartwatches and other fashion watches.
Swatch Group <UHR.S> is not taking any special short-term action in Hong Kong where sales have been hit by escalating political protests recently, the head of the world's biggest watchmaker said at a press conference on Thursday.
Swatch Group shares surged 5% after mid-year results on Wednesday in which the watchmaker issued a positive outlook regarding its biggest markets and reported progress in curbing grey market sales.
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