News of the devaluation of the Chinese yuan last week provoked a 5% drop in the Swatch Group share price and overshadowed a significant story concerning the world’s biggest watchmaking group that was broken by Indian media. The group’s affordable Swatch brand received authorization from the Indian government to open own-brand stores in the country and plans to open 30 to 40 new stores in the country over the next three years (see my editorial). Could this pave the way for other, more expensive, watch brands to take the same route as India relaxes its tight controls on monobrand retail? If so, it could be good news for the fifth biggest group of watch fans by country on WorldTempus.
“Swatch is only the third global brand after IKEA and H&M to be given permission to open its own stores in India.”
Michèle Brunner continues our detailed examination of the Only Watch 2015 models today with a look at the levels of personalization that some brands have afforded to their unique pieces, while Brice Lechevalier continues our build-up to the other main horological event of the autumn – the Grand Prix d’Horlogerie de Genève – with a look at the members of this year’s jury.
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