David Ponzo has succeeded Tiffany-bound Anthony Ledru.
The monthly statistics show signs of a recovery, noted Bernstein analysts.
The double-digit sales declines reported this week were shocking, and unlike anything the industry has ever witnessed. Although COVID-19 is abating, and trends are improving, true recovery won’t come until people can travel internationally once again.
The Swiss watchmaker named new bosses for Longines, Rado, Union, Tissot, Certina and Hamilton.
The world’s biggest watchmaker will ask shareholders to approve a 30 percent cut in its planned dividend.
The group expects consumption to normalize in China in around a month.
The world’s biggest watchmaker plans to show its high-end labels at regional events at a later time.
Net profits fell 13.7 percent in 2019, but the company expects healthy growth in 2020 in all markets, except Hong Kong.
A licensing agreement with BMW Group is the latest addition to the Italian eyewear company’s portfolio.
The Swiss watchmaker cited “recent turbulence” in the management of the brand.
Both the collections, including sunglasses and optical frames, will hit stores in November.
Revenues were down 4.4 percent as political unrest impacted sales in Hong Kong, the world’s number-one market for Swiss watches.