Monday, 15 February 2010
Since our story about Swatch last week, Swatch shares have jumped significantly (4.8 percent) as analysts began to hint at a possible Tiffany & Co. takeover.
According to the Financial Times, “the rumours were fuelled by the company's unexpected decision to cut its dividend for 2009, which Nick Hayek, the group's Chief Executive, said would give it flexibility to react if a takeover opportunity arose this year.”
An analyst at Sanford C Bernstein suggested “Tiffany was within Swatch's reach as it already owned the US group's watch business.”
We have nothing concrete on this at this time, but we’ll keep watching this story for developments.
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