With financial markets reeling, gold and diamond prices soaring and currency markets riding a dizzying seesaw, it would seem the time has come to turn bearish on luxury.
But executives at most Swiss timepiece firms shrug off any omens of gloom. On the contrary, they say the industry is healthier than ever and that emerging markets like China and Russia should outstrip the effects of any drop in demand in the U.S. and Europe.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"