Tuesday, 30 March 2010
We don’t have a definite “yes” to that question, but a Reuters article has evidence that the Swatch Group “had signalled interest in Italy’s luxury watchmaker Bulgari.”
Swatch’s CEO, Nick Hayek (pictured), said, "I do not deny that there are interesting big brands that have potential to develop," and he cited Bulgari as "an example."
We find this development most interesting. It wasn’t that long ago that we were wondering if LVMH were interested in buying Bulgari (see our 16 February report).
Still on the luxury watch industry, a WWD Baselworld round-up has suggested “the mood is brighter” at Baselworld.
Hayek was also causing waves at Baselworld, with WWD suggesting:
"In many cases, brands had a hidden agenda for showcasing their expertise. Swatch Group CEO Nick Hayek has threatened to stop supplying the rest of the industry with movements and components, and the issue of who makes the parts that go into the engine of a watch has become a hot topic. Most brands rely on Swatch to supply them with movements, although other suppliers exist, namely in Asia. Hayek warned that the Swiss watch sector faces a crisis unless there is more innovation and investment."...
Image credit: www.daylife.com
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