Swiss Watchmaker Rado Announces Sale of its Timepieces in Select US Nordstrom Stores

Stores To Carry Highly Anticipated Limited Edition True Blaze Fine Timepieces

Swiss watchmaker Rado recently announced that it will begin selling its exquisite timepieces in select U.S. Nordstrom stores, starting August 2017. The locations, four of Nordstrom‘s top-performing stores in the nation, are Costa Mesa, California (South Coast Plaza); Bellevue, Washington (Bellevue Square); Seattle, Washington (Downtown Seattle); and Los Angeles, CA (Westfield Century City) which is slated to open late fall. The brand’s timepieces will also be available through Nordstrom online at www.shop.nordstrom.com.

Rado True Thinline Plasma

Rado True Thinline Plasma

Rado’s highly anticipated limited edition True Blaze, co-designed with interior designer Sam Amoia, will also be sold at these stores. One of Rado’s most sought-after watch designs, the True Blaze is a celebration of glitz and glamour. The dial features a textured metallic structure, reflecting Amoia’s distinctive approach to design. At the same time, the timepiece conveys a minimalist message due to the unique placement of the gold-colored logo and indexes. Only 1001 pieces of the True Blaze are available worldwide.

Rado True Blaze

Rado True Blaze designed in Collaboration with Interior Designer, Sam Amoia

It is very exciting to now be selling our watches in top-performing Nordstrom stores in the U.S.,” comments Rado CEO Matthias Breschan. “Our presence in Nordstrom is a great way to reach U.S. customers, and a wonderful opportunity to showcase the unparalleled quality, durability, and beauty of the Rado brand.”

Founded in 1917 in Lengnau, Switzerland, Rado is a pioneer in high-tech ceramic, which is lightweight, durable, scratch-resistant and hypoallergenic. Ever since its beginnings, Rado has had a pioneering spirit, with the brand philosophy “if we can imagine it, we can make it” still holding true today.

www.rado.com.

Patek Philippe Presents The Art Of Watches Grand Exhibition New York 2017

Patek Philippe will present The Art of Watches, Grand Exhibition New York 2017 which will take place from July 13th – 23rd, 2017 at Cipriani 42nd Street in New York (and will be open to the general public free of charge). The aim of the Grand Exhibition is to recreate elements of the company that will provide an unforgettable experience for each visitor as close as possible to the feeling Patek Philippe guests have when they visit the company’s manufacture in Geneva, The Patek Philippe Museum, and the historical Salons on the Rue du Rhone. The exhibition is a partnership with partners with The Kips Bay Boys and Girls Club. The Kips Bay Boys & Girls Club offers innovative after-school and enrichment programs for more than 10,000 youth, ages 6 through 18, in ten locations throughout the Bronx, New York.

Patek Philippe NY2017 Logo

The Art of Watches, Grand Exhibition New York 2017 Logo

The 11-day public exhibition will showcase Patek Philippe‘s tradition of high-precision watch manufacturing, an insight into the company’s 178-year history as well as its heritage in the domain of Haute Horologerie. Visitors will have the opportunity to discover the world of the last privately family owned Geneva watch company from the inside.

Patek Philippe 1927 James Ward Packard

James Ward Packard’s Patek Philippe Astronomical Pocket Watch

Patek Philippe George Washington

Patek Philippe Pocket Watch with enamel portrait of George Washington

Patek Philippe Star Caliber 2000

Visitors will have access to exceptional pocket and wrist watches dating back to 1530 in a space of 13,218 square feet. Watchmaker and Artisan demonstrations are some of the interactive activities taking place during the exhibition as a way to educate visitors on the inner-workings of fine watchmaking. After visitors have concluded their tour they are welcome to rest and relax in the Patek Philippe Café.

Patek Philippe Entrance

The Art of Watches, Grand Exhibition New York 2017 Entrance

For the first time ever a two-story structure has been created within Cipriani to accommodate the square footage required for an exhibition of this scale. Ten specific rooms (including the Theater Room, Current Collection Room, Museum Room, US Historic Room, Rare Handcrafts Gallery and Grand Complications Room) have been created to showcase unique environments. Visitors will have access to exceptional pocket and wristwatches dating back to 1530. Watchmaker and Artisan demonstrations are some of the interactive activities taking place during the exhibition as a way to educate visitors on the inner-workings of fine watchmaking.

Patek Philippe U.S. President, Larry Pettinelli commented, “We are tremendously proud to have been allowed this rare opportunity to educate the public not only about Patek Philippe, but also the historical significance of timekeeping through the ages.” Additionally, Pettinelli noted, “New York was a logical choice for the U.S. Grand Exhibition, as this was one of the first landing spots for Patek and Philippe in the 1800’s when they began to explore the new world.”

In addition, Patek Philippe has announced The Art of Watches Grand Exhibition New York Family Day, to take place on Saturday, July 22, 2017. Family has always remained important to the privately owned independent watch manufacture in Geneva, making a dedicated day for families synonymous with the company’s culture and overall philosophy. Family Day will provide visitors with educational opportunities to explore the world of fine Swiss mechanical watchmaking.

Patek Philippe will also offer a commemorative catalog, available for purchase at a nominal fee during the exhibition. This one-of-a-kind catalog will highlight the historical timepieces, current novelties, Rare Handcrafts, and Grand Complications that will be showcased throughout the exhibition. Patek Philippe will donate 100 percent of the proceeds from the catalog to The Kips Bay Boys & Girls Club.

We are so thrilled to be able to use the Grand Exhibition to give back to the local community through the Kips Bay Boys & Girls Club,” Pettinelli added. “We could have not chosen a more fitting partner than the Kips Bay Boys & Girls Club to benefit from the Exhibition, which we hope will educate thousands of individuals from around the world on the history and current state of watchmaking.

Tiffany & Co. Announces Chief Executive Officer Transition As Frederic Cumenal Steps Down as CEO

Chairman Michael Kowalski Will Serve as Interim CEO; Board Will Work with Executive Search Firm to Recruit Successor

Company Reaffirms FY 2016 Earnings Guidance

Tiffany & Co. today announced that Frederic Cumenal has stepped down as Chief Executive Officer, effective immediately. The Board of Directors has commenced a search to recruit a successor in which it will be assisted by a leading executive search firm. During this process, Michael J. Kowalski, Chairman of the Board of Directors and previous CEO of Tiffany, will serve as Interim CEO while continuing as Chairmantiffany-co-logo-hd

Tiffany is the internationally renowned jeweler founded in New York in 1837. Through its subsidiaries, Tiffany & Co. manufactures products and operates TIFFANY & CO. retail stores worldwide, and also engages in direct selling through Internet, catalog and business gift operations.

On behalf of the entire Board of Directors, I would like to thank Frederic Cumenal for his contributions to Tiffany,” said Mr. Kowalski. “At a time of continuing challenges in the global luxury market, Frederic has enhanced the management team and taken important steps to position Tiffany for success in the long term. We wish him the best in his future endeavors.”

Mr. Kowalski continued, “The Board is committed to our current core business strategies, but has been disappointed by recent financial results. The Board believes that accelerating execution of those strategies is necessary to compete more effectively in today’s global luxury market and improve performance. As such, we remain focused on enhancing the customer experience, increasing the rate of new product introductions and innovation, maximizing marketing effectiveness, optimizing the store network, and improving our business operations and processes, all while efficiently managing our capital and costs. We believe these initiatives and the pace of their execution are key to driving shareholder value. Tiffany is an iconic brand with a family of talented and committed employees to match, and I look forward to supporting both during the transition.”

Mr. Cumenal said, “I am proud of what we have accomplished at Tiffany and would like to thank the management team and our many talented employees around the world with whom I have had the pleasure to work. I have great confidence in Tiffany’s brand, strategic direction, and people, and I believe the Company will have many exciting opportunities in the future.”

Reaffirms Annual Guidance

The Company also affirmed, based on its plans and assumptions detailed in the January 17, 2017 holiday period sales news release, its fiscal year 2016 guidance described in that press release. The Company expects to report its fourth quarter and full 2016 fiscal year results, and also to provide its expectations for the 2017 fiscal year, on March 17 before the market opens.

For additional information, please visit www.tiffany.com or call the shareholder information line at 800-TIF-0110.

The Business of Fashion: LVMH Moët Hennessy Louis Vuitton Announces Record 2016 Results

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury products group, recorded revenue of €37.6 billion in 2016, an increase of 5% over the previous year. Organic revenue growth was 6%.lvmh-moet-hennessy-louis-vuitton

In the fourth quarter, revenue increased by 9% compared to the same period of 2015. Organic growth was 8%. The American market remains on a good track as does Europe. Asia, excluding Japan, continued its good momentum.

Profit from recurring operations reached €7 billion in 2016, an increase of 6%, to which all business groups, apart from selective distribution, contributed. This result compares to 2015 which was itself a year of growth. Operating margin reached 18.7%. Group share of net profit was €3 981 million, representing growth of 11%.

Bernard Arnault, Chairman and CEO of LVMH, said: “LVMH achieved an excellent performance in 2016 within a context of geopolitical and economic instability. Continued innovation, entrepreneurial spirit and the quest for excellence: all Maisons continue to assert these core values while maintaining rigorous execution of their strategies on the ground. In an environment which remains uncertain, we can count on the appeal of our brands and the agility of our teams to strengthen, once again in 2017, our leadership in the universe of high quality products.

Key highlights from 2016 include:

  • Record revenue and profit from recurring operations
  • Growth in the United States, Europe and Asia
  • Good performance of Wines & Spirits in all regions
  • The success of both iconic and new products at Louis Vuitton, where profitability remains at an exceptional level
  • Progress at Fendi
  • The sale of Donna Karan and the acquisition of Rimowa, a leader in luggage of excellence
  • Good momentum at Parfums Christian Dior driven by successful product innovations
  • Market share gains at Bvlgari and TAG Heuer
  • Growth at Sephora which strengthened its position in all its markets and in digital
  • Free cash flow of €3 974 million, an increase of 8%
  • Gearing of 12% at end of December 2016

WINES & SPIRITS: GOOD YEAR WITH PROGRESS IN THE UNITED STATES AND REBOUND IN SHIPMENTS TO CHINA

The Wines & Spirits Business Group recorded an increase in organic revenue of 7 %. On a reported basis, revenue growth was 5 %. Profit from recurring operations increased by 10 %. With volumes up 3%, solid growth continues for champagne and prestige cuvees performed particularly well. Hennessy cognac enjoyed an excellent year with 10% volume growth. The American market is growing well and China saw better momentum after a tough 2015 due to destocking by distributors. Other spirits, Glenmorangie and Belvedere, continued their growth.

LVMH Moët Hennessy Louis Vuitton is represented in Wines and Spirits by a portfolio of brands that includes Moët & Chandon, Dom Pérignon, Veuve Clicquot Ponsardin, Krug, Ruinart, Mercier, Château d’Yquem, Domaine du Clos des Lambrays, Château Cheval Blanc, Hennessy, Glenmorangie, Ardbeg, Belvedere, Chandon, Cloudy Bay, Terrazas de los Andes, Cheval des Andes, Cape Mentelle, Newton, Bodega Numanthia and Ao Yun.

FASHION & LEATHER GOODS: GOOD PERFORMANCE OF LOUIS VUITTON, OTHER BRANDS STRENGTHENED THEIR POSITIONS

The Fashion & Leather Goods Business Group recorded organic revenue growth of 4% in 2016. On a reported basis, revenue growth was 3 %. Profit from recurring operations increased by 10%. Louis Vuitton had a good year driven by the level of creativity across all its businesses. The continued success of its iconic product range and the strong demand for recent creations such as the new luggage designed by Marc Newson and the Louis Vuitton fragrances, all contributed to this growth. Fendi recorded robust growth crossing the symbolic revenue threshold of 1 billion euros during the year. Loro Piana continued to expand its distribution network and opened a flagship store in Paris. Céline, Loewe and Kenzo all continued to grow. Marc Jacobs continued to work on changes to its collection. Donna Karan was sold in December to the American G-III group. Rimowa, world leader in luggage of excellence, joined the LVMH group.

Its Fashion and Leather Goods division includes Louis Vuitton, Céline, Loewe, Kenzo, Givenchy, Thomas Pink, Fendi, Emilio Pucci, Marc Jacobs, Berluti, Nicholas Kirkwood, Loro Piana and Rimowa.

PERFUMES & COSMETICS: CONTINUED SUCCESS OF INNOVATIONS; EXCELLENT PERFORMANCE IN MAKEUP

The Perfumes & Cosmetics Business Group recorded organic revenue growth of 8%. On a reported basis, revenue growth was 6%. Profit from recurring operations increased by 5%. The inauguration of the new atelier for the creation of fragrances, Les Fontaines Parfumées, at Grasse was a highlight of the year. Parfums Christian Dior grew market share in all regions, driven by the worldwide success of Sauvage and the vitality of its iconic perfumes J’adore and Miss Dior. The progress of makeup also contributed to the Maison’s excellent performance. Guerlain benefitted from the successful launch of its new makeup collection inspired by its fragrance La Petite Robe Noire. Benefit experienced strong growth driven by the success of its new collection for eyebrows. Make Up For Ever, Fresh and Kat Von D performed well.

LVMH is present in the Perfumes and Cosmetics sector with Parfums Christian Dior, Guerlain, Parfums Givenchy, Kenzo Parfums, Perfumes Loewe as well as other promising cosmetic companies (BeneFit Cosmetics, Make Up For Ever, Acqua di Parma and Fresh).

WATCHES & JEWELRY: MARKET SHARE GAINS FOR BVLGARI AND TAG HEUER

The Watches & Jewelry Business Group recorded organic revenue growth of 5%. On a reported basis, revenue growth was 5%. Profit from recurring operations increased by 6%. Bvlgari continued to gain market share with enhancements to its Serpenti, Diva and B.zero1 lines. Growth continued in China, Korea and in the Middle East. TAG Heuer grew despite a difficult market for watches, gained market share and benefitted from the success of its new collections and its connected watch. Hublot accelerated its development in Asia and recorded the best year in its history. Chaumet continued to move its product lines upmarket and inaugurated a new boutique concept in Hong Kong.

LVMH‘s Watches and Jewelry division comprises Bulgari, TAG Heuer, Chaumet, Dior Watches, Zenith, Fred, Hublot and De Beers Diamond Jewellers Ltd, a joint venture created with the world’s leading diamond group.

SELECTIVE RETAILING: GOOD PERFORMANCE AT SEPHORA, DFS IMPACTED BY A DIFFICULT TOURISM CONTEXT IN ASIA

The Selective Retailing Business Group recorded organic revenue growth of 8%. On a reported basis, revenue growth was 7%. Profit from recurring operations declined by 2%. Sephora gained market share across all regions and once again recorded double-digit growth in both revenue and profits. More than a hundred stores were opened in 2016 including notably a flagship store in the World Trade Center in New York and major renovations in Boston and Singapore. Its online offer accelerated with the launch in six new countries. DFS continued to face a difficult environment, notably in Hong Kong. The expansion into new destinations continued. The opening of the T Galleria in Angkor in Cambodia and one in Venice, Italy were the highlights of the year.

LVMH is also active in selective retailing as well as in other activities through DFS, Sephora, Le Bon Marché, La Samaritaine, Royal Van Lent and Cheval Blanc hotels.

Key figures:

             
Euro millions    

2015

 

2016

 

% change

Revenue    

35 664

 

37 600

 

+ 5 %

Profit from recurring operations    

6 605

 

7 026

 

+ 6 %

Group share of net profit    

3 573

 

3 981

 

+ 11 %

Free cash flow*    

3 679

 

3 974

 

+ 8 %

Net financial debt    

4 235

 

3 265

 

– 23 %

Total equity    

25 799

 

27 903

 

+ 8 %

* Before available for sale financial assets and investments, transactions relating to equity and financing activities Continue reading

Movado Launches the Special Edition Edge Collection Designed in Collaboration with Celebrated Industrial Designer Yves Béhar

Movado has introduced a new Special Edition Movado Edge collection, developed in collaboration with world-renowned industrial designer Yves Béhar and his design firm fuseproject. A breakthrough design that brought a dynamic new level of artistry and innovation to the legendary Museum Dial, created in 1947 by artist/design Nathan George Horwitt, the Movado Edge collection premiered in 2015 to critical acclaim.

Movado-Edge-Merged-2016-Icon

The Movado Edge Special Edition collection brings new creative thinking and modern materials to Edge and includes a bangle bracelet watch for women, and men’s bracelet watch and chronograph models.

We are excited to continue our creative collaboration with Yves Béhar and to celebrate the one-year anniversary of the launch of Movado Edge with these new special edition timepieces,” stated Efraim Grinberg, Chairman & CEO, Movado Group. “Edge represents an incredible opportunity to take the purity and distinctiveness of the Museum Dial in creative new directions, and we are extremely proud of this latest result.

Stark and striking, the iconic Museum Dial has no numbers and is defined only by a solitary gold dot at 12 o’clock, symbolizing the sun at high noon, while its simple moving hands suggest the daily rotation of the earth on its axis. This conceptual, groundbreaking dial is one of the most acclaimed watch designs of all time, and one of the most important of the 20th Century.

Edge reinterpreted Horwitt’s original design in three dimensions, with the signature dot emerging from the dial’s curved, newly textured landscape, and sculpted ridges around the edge suggesting the sun’s rays, while subtly marking the minutes. The transformative launch collection included men’s, women’s and chronograph models on stainless steel link bracelets and black leather or rubber straps.

A year ago, we introduced the Edge collection for Movado – one of the brand’s most important design collaborations since the creation of the iconic Museum Dial watch in 1947,” said Yves Béhar, Founder and Principal Designer, fuseproject, “On the first anniversary of Edge, I designed a Special Edition signature line constructed with a dial made of a unique casting process, and with an organic pattern that celebrates the subtleties of the original collection.

The Movado Edge Special Edition collection brings new creative thinking and modern materials to Edge. The distinctive concave dials are defined by a new organic texture, reminiscent of lava rock. Offered in stainless steel with a startling blue lava-textured dial and tonal dot, and in black and rose gold ion-plated stainless steel with a black lava-textured dial detailed by a rose gold-toned dot, these special edition designs feature case-backs engraved with Béhar’s signature. The inspired new Special Edition Edge collection includes a bangle bracelet watch for women, and men’s bracelet watch and chronograph models.

 

Tourneau Announces Opening Of The First Watch Boutique At Bloomingdale’s Century City

Tourneau, the nation’s leading luxury watch retailer for over a century, announced  that it has opened its first dedicated shop-in-shop at Bloomingdale‘s Century City in Los Angeles. This newly renovated Bloomingdale’s location will be the first to carry Tourneau’s extensive selection of premium new and Certified Pre-Owned watches. This 1,200 square foot boutique will offer men’s and women’s fine watches from Cartier, Omega, Breitling, Panerai, Longines and more. This partnership will offer Tourneau customers a new audience of fashion-forward consumers, while providing Bloomingdale’s customers with unparalleled expertise and service in the watch industry.Tourneau Since 1900 Logo

Tourneau’s 116 years of expertise in the watch retail industry coupled with Bloomingdale’s rich heritage as a luxury retailer make this a perfect partnership,” says Ira Melnitsky, CEO of Tourneau. “We are excited to be bringing fine watches to such a premier location in Los Angeles.”

Established in 1900, Tourneau is the leading retailer of luxury watches in the United States, offering more than 100 world-famous brands, including Rolex, Patek Philippe, Cartier, Vacheron Constantin, Jaeger-Le Coultre, Breitling and TAG Heuer in more than 8,000 unique styles. The company also sells Certified Pre-Owned timepieces and watches under the Tourneau brand name. Tourneau is known for its extensive selection and unparalleled customer service. For more information or to shop any time visit www.tourneau.com.

Coach Announces Opening of ‘Coach House’ Flagship Store on Fifth Avenue in New York City

Stuart Weitzman Opens Separate Flagship at Same Location

Coach, Inc. announced the opening of its newest flagship in one of the world’s most prestigious shopping districts at 685 Fifth Avenue in New York City. Timed to coincide with the brand’s 75th Anniversary Year, this unique retail concept marks a defining moment in both the company’s history and brand transformation.coach-logo

Coach, Inc. is a leading New York design house of modern luxury accessories and lifestyle brands. The Coach brand was established in New York City in 1941, and has a rich heritage of pairing exceptional leathers and materials with innovative design.

The 20,000 square foot retail space dedicated to the Coach brand, designed by Executive Creative Director Stuart Vevers in partnership with William Sofield, Designer and President of Studio Sofield, showcases the brand’s distinctive modern luxury positioning. Specifically, the interior features an impressive blackened steel and concrete staircase, which creates a sense of discovery while shopping, as well as a glass enclosed, vintage inspired elevator. Throughout the three-level flagship is a mix of eclectic and bespoke furniture and objects, accented by custom-designed cabinetry, warm lighting, proprietary carpets and fine millwork. Additional architectural elements include a glass-block facade, expansive windows and a captivating mechanized conveyor belt installed with a rotation of Coach products.

The center atrium houses a 12-foot sculpture of Coach’s dinosaur, Rexy, designed by renowned artist Billie Achilleos, and constructed entirely from Coach bags and proprietary hardware. In addition, a monumental contemporary sculpture, Scribing the Void, created by Brooklyn artist Kurt Steger traces the surface of iconic rock formations in Central Park, and is a nod to Coach’s New York City roots.

Victor Luis, Chief Executive Officer of Coach, Inc. said, “With Coach House, we are celebrating our New York heritage and 75-year history of craftsmanship. The flagship features the full expression of our women’s and men’s collections including bags, small leather goods, footwear, and ready-to-wear, in addition to offering a full range of customization and leather services. Together with the opening of the adjacent Stuart Weitzman flagship store, we are bringing two global brands born in New York City to one iconic location.”

The company is also launching two concepts unique to Coach House flagships that speak to the brand’s heritage of leather craftsmanship and innovative design. First, the Made to Order Rogue, which allows customers to create a bespoke Rogue bag, selecting from nine points of customization and over one million possible combinations. Second, the Coach House Workshop – which is the first of its kind – offering expanded leather and craftsmanship services, including special monogramming and exclusive vintage product, featuring a resident master craftsman with nearly 30 years of experience in the New York Workshop at Coach’s headquarters.

Andre Cohen, President North America and Global Marketing, added, “We are thrilled to open a true home for the Coach brand on the corner of Fifth Avenue and 54th Street, an address globally recognized for fashion. We’re confident that our modern luxury store environment will be warmly embraced by discerning New York shoppers and international visitors alike.

Coach is sold worldwide through Coach stores, select department stores and specialty stores, and through Coach’s website at www.coach.com. In 2015, Coach acquired Stuart Weitzman, a global leader in designer footwear, sold in more than 70 countries and through its website at www.stuartweitzman.com.