Friday, 22 January 2010
Fortune appears to be shining on the luxury industry this week. After celebratory news from Burberry, Richemont and Tiffany & Co. (click on the company names to see our earlier reports), there are also smiles on dials at Swatch due to a "significant rebound".
MarketWatch also said that Swatch had a "phenomenal record" month of December.
For last year as a whole, they reported a 6.3 percent fall in total gross sales, but said it was the third-best year for sales in the group's history.
A Swatch spokesperson said, "The last months of 2009 showed a very positive development, with clear signs of market normalization and increased consumer confidence. To some degree, the economic crisis [of] 2009 has separated the wheat from the chaff."
So despite hard times last year (see the MO Down for 17 August for a brief rundown), it seems like it’s now time to celebrate…
Who's behind the MO DOWN
Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au