The Local Switzerland

How luxury watchmakers are gearing up for Brexit

Wed, 27 Mar 2019 15:48:06 +0100

Luxury watchmakers have joined the list of businesses implementing Brexit contingency plans by stockpiling inventory in Britain before it leaves the EU, industry leaders have said.

Geneva: rare pink diamond aims to make $50 million

Mon, 12 Nov 2018 09:56:04 +0100

The Pink Legacy, an exceptionally large pink diamond, is set to go under the hammer at Christie's in Geneva on Tuesday, when it is expected to bring in up to $50 million.

Swiss watch exports tick ahead nicely in April

Tue, 29 May 2018 13:35:37 +0200

Exports of Swiss watches rose nearly 14 percent year on year in April, trade figures showed on Tuesday, aided by strong demand from prime market Hong Kong.

Swiss luxury giant Richemont sees profits halved on watch woes

Sat, 13 May 2017 17:16:58 +0200

Swiss luxury goods giant Richemont said Friday its full-year net profit was nearly cut in two as sales of high-end watches ticked lower.

Rare blue diamond fetches $17m at Geneva auction

Thu, 17 Nov 2016 10:00:34 +0100

A rare blue diamond on Wednesday sold in Geneva for just over $17 million, as Sotheby's eyed total sales in excess of $100 million at the autumn jewel auctions.

Watch sells for record $11m at Geneva auction

Tue, 15 Nov 2016 09:40:09 +0100

A stainless steel Patek Philippe watch has sold for a record $11 million (10.2 million euros) in Geneva, an auction house said on Monday.

Richemont cuts jobs amid tough conditions

Tue, 15 Nov 2016 09:21:06 +0100

Swiss luxury goods giant Richemont will cut 210 jobs at its Piaget and Vacheron Constantin high-end watchmakers, a union source said on Monday.

Swiss luxury watches stolen in Paris raid

Fri, 21 Oct 2016 10:24:11 +0200

Two men made off with half a million euros' worth of luxury watches after threatening staff at the central Paris offices of Swiss watchmaker Girard-Perregaux with tear gas, police said.

In pictures: Inside the latest Swiss luxury hotel

Thu, 22 Sep 2016 16:42:50 +0200

Ten months after it opened following a multi-million franc renovation, the five-star Royal Savoy in Lausanne will be inaugurated on Friday.

Swiss firm takes hit despite Brexit boost

Wed, 14 Sep 2016 16:10:21 +0200

Swiss luxury goods giant Richemont, which owns top global brands like Cartier, warned on Wednesday that weak demand and restructuring costs would slash first-half profits despite a boost in UK sales from Brexit.

Luxury giant Richemont sees sales soar

Thu, 06 Sep 2012 10:24:00 +0200

Swiss luxury goods group Richemont's sales catapulted by 23 percent year-on-year in the first five months of its 2012-13 accounting year, the company announced on Wednesday ahead of its annual assembly.

Asian luxury market boosts Richemont profits

Wed, 16 May 2012 16:33:00 +0200

Swiss luxury goods group Richemont posted a steep rise in annual net profit on Wednesday as Asian demand for watches and jewellery showed no signs of abating.

Buyers back away from luxury apartments

Mon, 30 Jan 2012 15:11:16 +0100

Several high-end apartment projects across the Zurich region are either significantly undersubscribed, or have not had enough take-up to warrant the start of construction, real estate figures show.

Swiss designer wants $11 million for red-and-gold 'dream' car

Mon, 05 Dec 2011 15:42:00 +0100

A gold and ruby-encrusted Mercedes SLR McLaren, the pride and joy of Swiss entrepreneur Ueli Anliker, is soon to be up for grabs for anyone willing to meet the sizzling sale price of 10 million francs ($11 million).

Stop construction of Swiss luxury resort: WWF

Tue, 30 Aug 2011 12:20:00 +0200

The World Wide Fund for Nature (WWF) and two local environmental groups have asked Switzerland's top court to stop the construction of a Russian-financed luxury Alpine resort, it said on Monday.

Pink diamond fetches millions in Geneva

Wed, 18 May 2011 16:34:00 +0200

An extremely rare translucent pink diamond fetched a price of 8.5 million francs ($9.5 million) at a Sotheby's auction on Tuesday, the third-highest price ever paid for one of the pink stones at auction.

Images of Basel diamond thieves captured

Fri, 01 Apr 2011 10:52:00 +0200

Swiss police have handed to Interpol images of suspects believed to have stolen four diamonds from the world's biggest watch and jewellery fair in the city of Basel.

Diamonds swiped in daring Basel raid

Thu, 31 Mar 2011 10:25:00 +0200

Four diamonds worth millions were stolen on Wednesday from the world's biggest watch and jewellery fair in the northern Swiss city of Basel.

Fancy phones force watchmakers to innovate

Fri, 25 Mar 2011 13:58:00 +0100

With the younger generation opting to use their smartphones to tell time, the watch-making industry is being forced to get smart and high-tech to recapture consumers, AFP's Hui Min Neo discovers at the Baselworld watch and jewellery fair.