Tag Archives: Corporate / Industry News

Switzerland

Every New Watch You Can Start Craving Right Now | Instant News


For the watch industry – as well as for many others – 2020 began as an apocalyptic disaster film.

“Vegas closed first, then New York, then Florida, then London, then Switzerland. Then the whole world closed last March, ”said Brian Duffy, CEO of the Swiss Watches Group (WOSG), a retail group with about 150 stores in the US and UK and a large online presence. “We don’t have any incoming products and we don’t have stores open.”

Furthermore, the Watches and Miracles exhibition in Geneva, scheduled for the end of April 2020 and usually held in person, was moved online. Then, a larger exhibition, Baselworld, was postponed and eventually canceled. To make matters worse, it soon became possible that Baselworld, which was first staged in 1917, would never happen again.

So, while this year’s Watches and Miracles – now Switzerland’s largest and most influential exhibition in the void left by the Baselworld cancellation – rolls still online, time hangs in the balance. Watch collectors around the world mourn the opportunity to see, hold and wear the new development “in the metal”. Branding self-reinforcing: Will there be a retreat to the solid classics or will innovation take a (virtual) stage?

Last week’s opening on April 7 launched fireworks in a horological universe. The number of brands grew exponentially to 38. Jaeger-LeCoultre launched the Reverso Hybris Mechanica Caliber 185, a $ 1.6 million timepiece featuring four dials and 11 complications, including a moon phase requiring adjustment only once in 1,111 years. Architect Tadao Ando’s latest collaboration with Bulgari is unveiled, showing a minimalist masterpiece in black ceramic – the same material Omega uses for its newest dive watch, the Seamaster Diver 300M Black Black, released just before the exhibition. After about six years of work, Patek Philippe introduced an engineering feat: allowing the perpetual calendar to appear for the first time on one of his watches in a straight line in one slit. Bright colors are everywhere, including the Rolex Oyster Perpetual Datejust 36 laser-engraved green circle resembling a palm leaf and Chanel’s shockingly pink Code Coco Electro.

And to coincide with the fair, Audemars Piguet staged a Hollywood premiere in Los Angeles for the Royal Oak Concept “Black Panther” Flying Tourbillon – the first in a collection inspired by the Marvel Comics superhero.

What makes a company confident to undertake such costly research and development, coupled with bold and cheeky designs? For one thing, for those who love it, watches remain an important investment in 2020.

“We believe, rightly, that people generally do not give up on buying the beautiful Cartier or Patek Philippe,” said Duffy of WOSG.

Continued investment by brands in new movements, complications and materials is motivated in part by a simple fact: The new watches sell and attract more media attention than existing, reissued models. There are legions of collectors about to buy new editions of their favorite watch models, and brands don’t want to appear silent.

Ultra-luxe brands, previously shunning e-commerce priorities, were pulled out of their analog hiding place and focused more on digital sales. This is partly the case, said Duffy, at the request of WOSG, which has itself shifted to a digital strategy with an enhanced online presence. Duffy conducts Instagram Live interviews with the brand’s CEO, staff set up virtual appointments with clients, and Instagram’s augmented-reality filter lets people see the watch face on their wrist. As a result, WOSG’s online business has increased significantly.

The shift is inevitable, Duffy said, but Covid-19 is accelerating it by three to five years.

“Technology has offset the lack of tourism,” said Bulgari CEO Jean-Christophe Babin, who has relied on the brand’s digital presence to virtually open doors and sell them to customers privately over the past year. He also froze hiring and spending, cut budgets to build reserves and shifted perfume production to making hand sanitizers. “Luckily, three countries can get through the crisis quickly. China, South Korea and Japan bounced back in September, “he said.

China is also home to the Live Watches and Miracles exhibition, which opens just as the digital exhibition closes and runs until April 18. “Two years ago, the discussion was, ‘OK, do we need a physical exhibition?’ Now there are no questions, ”said Emmanuel Perrin, head of the newly appointed Fondation de la Haute Horlogerie, the non-profit organization that hosts exhibitions. (He also oversees the distribution of specialist watchmakers at Richemont.)

Technology is playing a major role thanks to the invention of California-based PORTL, a device that transmits holographic footage of people and objects in real time across great distances, a process known as holoportation.

Exhibition visitors were treated to the use of PORTL technology in the watch world when, on the opening day, IWC Schaffhausen CEO Christoph Grainger-Herr presented the brand’s new collection in Shanghai while he and the watch remained in Schaffhausen, Switzerland. “If you can’t make it to the boutique,” said PORTL CEO and founder David Nussbaum, “we’ll send the boutique to you.”

Time Machine

Some of the most eye-catching designs from this year’s Watches and Miracles fair.

36mm Rolex Explorer in Oystersteel and yellow gold, $ 10,800, www.rolex.com.


Photo:

Courtesy of Rolex

Rolex’s signature Explorer was redesigned with a shrinking 36mm shell and a two-tone Rolesor in steel and yellow gold.

Patek Philippe Ref. 6119G Calatrava in white gold, $ 29,570, www.patek.com.


Photo:

Thanks to Patek Philippe

The new movement is hidden behind traditional design elements in Patek Philippe’s new Calatrava.

Panerai Luminor Chronograph (PAM01218) in steel and crocodile, $ 9,200, www.panerai.com.


Photo:

Thanks to Panerai’s kindness

The Panerai chronograph in Super-LumiNova gray with a white sandwich dial turns out to be fresh.

Cartier Tank Louis in pink gold and crocodile, $ 13,100 (price subject to change), www.cartier.com.


Photo:

Courtesy of Cartier

Cartier’s new Louis tank is a sophisticated art deco style with a classic design.

A. Lange & Söhne Triple Split in pink gold, $ 164,400, www.alange-soehne.com.


Photo:

Thanks to A. Lange & Söhne

A. Lange & Söhne reintroduces the three year old Triple Split in a pink gold and blue color combination.

The Eight Perpetual Bulgarian finissimo in Titanium, $ 59,000, www.bvlgari.com.


Photo:

Thanks to BVLGARI

Bulgari’s new Octo Finissimo is the thinnest perpetual calendar on the market at just 2.75mm thick.

Chopard LUC Quattro Spirit 25 in rose gold, $ 44,700, www.chopard.com.


Photo:

Courtesy of Chopard

Chopard celebrates 25 years of watchmaking with the complications of its first in-house hopping clock.

H. Moser Endeavor Tourbillon Concept Tiger Eye in red gold, cow and alligator eye, $ 75,900, www.h-moser.com.


Photo:

Courtesy of H. Moser

Cut from Tiger Eye stone, the all-new H. Moser Endeavor Tourbillon dial is a one and only.

Hermès H08 in titanium, $ 6,050, www.hermes.com.


Photo:

Thanks to Hermès

Hermès introduces a new class of pillow-shaped sporty watches in a variety of materials including satin brushed titanium.

Hublot Big Bang Integral Tourbillon Full Sapphire in sapphire and titanium crystal, $ 422,000, www.hublot.com.


Photo:

Courtesy of Hublot

Hublot’s Big Bang model turns into a light-capturing object made of clear sapphire crystals.

Jaeger-LeCoultre Reverso Hybris Mechanica Caliber 185 white gold, price on request, www.jaeger-lecoultre.com.


Photo:

Courtesy of Jaeger-LeCoultre

Jaeger Le-Coultre’s new reverso is polite but fraught with 11 complications.

Vacheron Constantin Traditionnelle Split-Seconds Chronograph Ultra-Thin in platinum, $ 288,000, www.vacheron-constantin.com.


Photo:

Courtesy of Vacheron Constantin

The new Traditionnelle Split-Seconds Chronograph Ultra-Thin Vacheron Constantin will be released in just 15 pieces.

Zenith Defy Extreme in titanium and rubber, $ 18,000, www.zenith-watches.com.


Photo:

Thanks to Zenith’s kindness

The Zenith El Primero 9004 chronograph movement is encased in a rugged design of micro-blast titanium.

Copyright © 2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Food & Drink

Amazon launches a new food brand, Aplenty | Instant News


Amazon.com Inc.
AMZN,
+ 0.21%

Monday said it had launched a new privately labeled food brand, Aplenty, which would include snacks such as pita chips, crackers and mini cakes, as well as seasonings, frozen foods and kitchen staples.

Amazon’s newest label comes after a pandemic year in which consumers cook and snack more at home.

Overall, online grocery sales also jumped 52% in 2020, according to the JLL’s Grocery Tracker 2021 report. JLL provides market research, retail business insights, and retail property management services.

“It’s unlikely that people will abandon online shopping even when vaccines are widespread – with increased efficiency and costs, many customers are already doing it
added convenience to their weekly routine, ”said the report.

See: Smoothies and salads: Kroger says these 4 items account for 28% of his production sales

However, the report said that the widespread COVID-19 vaccination would drive increased eating in restaurants and could impact the grocery business.

But home food will always lead to sales, and grocery retailers are working to continue to drive demand, with private labeling a key part of that strategy.

Kroger Co.
KR,
+ 0.50%

says his private label is a $ 26 billion business by 2020. The pilot for Home Chef’s fast food is coming soon.

Target Corp.
TGT,
-0.13%

also launched another food brand in April, Favorite Day, which focuses on snacking.

In its latest revenue, Target said it has 10 proprietary brands with $ 1 billion in sales.

Too: Aim to launch another food and beverage brand in April, Favorite Day

Read: ‘Plexiglass will be awake for a while’: Shoppers remain anxious about COVID but head back to the store

And Albertsons Cos. Inc.
ACI,
+ 2.49%

announced in late March that it had partnered with Google for a series of technologies that would make online grocery shopping easier and more convenient.

Amazon shares are up 3.3% for the year while on the S&P 500 index
SPX,
-0.02%

has gained 9.8% for the period.

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Food & Drink

Starbucks wheat milk shortages occur as sales of plant-based foods soar | Instant News


Starbucks Corp.
SBUX,
+ 0.04%

is experiencing a shortage of oat milk in some locations, evidence of the growing popularity of plant foods of all kinds.

“Customer response to the national rollout of oat milk at Starbucks has been very positive,” the company said in a statement afterwards media reports about some Starbucks locations that run out of nondairy items.

“As more and more customers return to our shop, some customers may experience a temporary shortage of oat milk in their shop. We apologize for the inconvenience of the customer experience and recommend trying the soy milk, almond milk or coconut milk. Customers will immediately get oat milk in their shop. “

Starbucks launches its oat milk drink plants, including those made under the Oatly brand, nationwide March 2. Customers are also given the option of adding oatly to their drink along with soy milk, coconut milk and almond milk. The regional rollout of oats begins in the Midwest in January 2020.

See: Chipotle is one step closer to target margins with rising steak prices: Truist

Starbucks began offering a nondairy milk alternative in 1997 with soy milk.

Kevin Johnson, Starbucks chief executive, noted the growing demand for plant-based products in remarks during the January earnings announcement. The company provides not only plant-based milk, but also plant-based foods, including Impossible Sausage Breakfast Sandwich.

In Seattle, there is one location where the diet is all plant-based.

“So if I think about drinks and food, trend No. “1 that I’m going to highlight is simply consumer shifts in consumer preference around plant-based vegetables,” Johnson said during the income call, according to FactSet.

Starbucks shares have gained 64.5% over the past year while on the S&P 500 index
SPX,
+ 0.15%

up 53.3% for the period.

Johnson isn’t the only one noticing the increasing taste for oat milk and other plant-based items.

Oatly has been secretly submitted to go public at the end of February. The company has major supporters, including Oprah Winfrey.

According to data provided by the Plant Based Foods Association and the Good Food Institute, plant-based food retail sales in the US jumped 27% in 2020 to $ 7 billion.

Too: Smoothies and salads: Kroger says these 4 items account for 28% of his production sales

Plant-based milk is the largest plant-based category, with $ 2.5 billion in sales and 35% of the plant-based food market. Almond milk accounts for about two-thirds of sales of plant-based milk based on dollars spent. The group says that the growth of plant-based milk has opened the door for other plant-based products, such as yogurt and cheese.

Vegetable meat is the second largest plant-based category, with sales growing 45% in 2020 to reach $ 1.4 billion.

Among the brands in the plant-based meat category is Beyond Meat Inc.
BYND,
-2.73%,
which recently opened its first manufacturing facility in China; The Impossible Food; and Incogmeato, the Morningstar Farms brand, which is part of Kellogg Co.
K,
-0.55%

brand lineup.

Beyond Meat launches its first product for the Chinese market, Beyond Pork, at November 2020.

Market research firm Forrester outlined a number of problems facing the food industry in its January report, including the need to feed a growing global population experiencing an upward shift in the economy; threats to food production due to environmental degradation and climate change; and health problems as allergies, diabetes, and obesity are on the rise.

Plant-based food makers say they are working on this issue.

Do not miss: Olive Garden parents raise wages for hourly workers when customers start eating again

“As we remain true to our guiding principles in providing delicious tasting plant-based meat, made without the use of GMOs, bioengineered ingredients, hormones, antibiotics or cholesterol, we believe we are on the path to building a long-lasting, global protein. companies that advance more sustainable meat supply chains, consumer health and the health of our planet, ”said Beyond Meat Chief Executive Ethan Brown in a statement accompanying the company’s February earnings release.

Piper Sandler’s recent “Taking Stock With Youth” survey of 9,800 US teenagers found that the environment is one of the top three political / social issues of concern to Gen Z.

The other two are racial equality / Black Lives Matter and the 2020 elections.

.



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Food & Drink

Starbucks wheat milk shortages came at a time when plant-based food sales were booming | Instant News


Starbucks Corp.
SBUX,
-0.12%

is experiencing a shortage of oat milk in some locations, evidence of the growing popularity of plant foods of all kinds.

“Customer response to the national rollout of oat milk at Starbucks has been very positive,” the company said in a statement afterwards media reports about some Starbucks locations running out of non-dairy items.

“As more and more customers return to our shop, some customers may experience a temporary shortage of oat milk in their shop. We apologize for the inconvenience of the customer experience and recommend trying the soy milk, almond milk or coconut milk. Customers will immediately get oat milk in their shop. “

Starbucks launches its oat milk drink plants, including those made with Oatly, nationwide March 2. Customers are also given the option of adding oatly to their drink along with soy milk, coconut milk and almond milk. The regional rollout of oats begins in the Midwest in January 2020.

See: Chipotle is one step closer to target margins with rising steak prices: Truist

Starbucks began offering a non-dairy milk alternative in 1997 with soy milk.

Kevin Johnson, Starbucks chief executive, noted the growing demand for plant-based products in remarks during the January earnings announcement. The company provides not only plant-based milk, but also plant-based foods, including Impossible Sausage Breakfast Sandwich.

In Seattle, there is one location where the diet is all plant-based.

“So if I think about drinks and food, the number one trend I would highlight is simply the shift in consumer preference around plant-based options,” he said during an income phone call, according to FactSet.

Starbucks shares have gained 64.5% over the past year while on the S&P 500 index
SPX,
+ 0.09%

up 53.3% for the period.

Johnson isn’t the only one noticing the increasing taste for oat milk and other plant-based items.

Oatly has been secretly submitted to go public at the end of February. The company has big name endorsements, including Oprah Winfrey.

According to data provided by the Plant-Based Food Association (PBFA) and The Good Food Institute (GFI), retail sales of plant foods in the US jumped 27% to $ 7 billion.

Too: Smoothies and salads: Kroger says these 4 items account for 28% of his production sales

Plant-based milk is the largest plant-based category with $ 2.5 billion in sales and 35% of the plant-based food market. About two-thirds of dollar sales of plant-based milk are almond milk. The group says that the growth of plant-based milk has opened doors for other non-dairy products, such as yogurt and cheese.

Vegetable meat is the second largest plant-based category with sales growing 45% in 2020 to reach $ 1.4 billion.

Among the brands in the plant-based meat category is Beyond Meat Inc.
BYND,
-2.92%,
which recently opened its first manufacturing facility in China; The Impossible Food; and Incogmeato, the Morningstar Farms brand, which is part of Kellogg Co.
K,
-0.70%

line up.

Beyond Meat launches its first product for the Chinese market, Beyond Pork, at November 2020.

Market research firm Forrester outlined a number of problems facing the food industry in its January report, including the need to feed a growing global population experiencing an upward shift in the economy; threats to food production due to environmental degradation and climate change; and health problems as allergies, diabetes, and obesity are on the rise.

Plant-based food companies say they are addressing this problem.

Do not miss: Olive Garden parents raise wages for hourly workers when customers start eating again

“As we remain true to our guiding principles in providing delicious tasting plant-based meat, made without the use of GMOs, bioengineered ingredients, hormones, antibiotics or cholesterol, we believe we are on the path to building a long-lasting, global protein. companies that advance more sustainable meat supply chains, consumer health and the health of our planet, ”said Beyond Meat Chief Executive Ethan Brown in a statement accompanying the company’s February earnings release.

Piper Sandler’s recent “Taking Stock With Youth” survey of 9,800 US teenagers found that the environment is one of the top three political / social issues of concern to Gen Z.

The other two are racial equality / Black Lives Matter and the 2020 elections.

.



image source

Food & Drink

Too Many Food Delivery Investors – WSJ | Instant News


It’s not a good week to be a side dish in the food delivery room.

After baking the delivery platform No. 2 England, Deliveroo in it public debut on the London stock exchange on Wednesday, investors moved to scorch US middlemen. Both can leave lasting burns in the sector.

Back in December, it seemed that investors were coveting food delivery stocks with almost as much vigor as vaccines. Now that the shoot has emerged, investors’ tastes appear to have changed. US market leader DoorDash shares close 86% above their public offering price on their first day of trading late last year, but it has been down nearly 30% in the months since restaurants started welcoming indoor dining again.

DoorDash, at least, still boasts a monster market value of over $ 50 billion on a fully diluted basis, nearly 8.5 times the size of its closest US pure game competitor. Other companies in this sector that have gone public recently have not been that lucky. Olo’s software-as-a-service platform, which counts shipping platforms as both a competitor and a customer, has seen its stock drop 24% since its public offering less than two weeks ago. Meanwhile, the eagerly awaited public offering for London-based food delivery platform Deliveroo closed 26% below its offering price on Wednesday.

It seems that investors’ appetite for food delivery can be spoiled by a story – like food – with a little hair on it. Even though revenues increased 54% last year amid the pandemic, Deliveroo has still managed to lose money, even based on adjusted earnings before interest, taxes, depreciation and amortization. Now, future profitability is even more questionable after Uber Technologies recently lost a UK court case that resulted in a reclassify the landmark from its ride-hailing driver as workers, entitling them to benefits such as vacation pay and a pension. The decision has left skeptics worried that food delivery drivers will be next on the regulatory menu. For Deliveroo, which accounts for roughly half of its sales in the UK, that would be very expensive.

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