Recently Richemont announced that they would be making 350 Swiss staffers redundant. In related news, Kering and LVMH announced wonderfully diluted messages - profits were up, but in fact watch sales (as everyone knew) were down.
And while it is never "warm and fuzzy" news to hear that people are losing their jobs, it is the reality of the situation. Losses have been steady, and higher up the food chain people were too frozen to make changes when they should have been made.
Over at GP/JEANRICHARD the HR Office has been burning the midnight oil as the staff org chart is changing faster than an English Premiere League during the transfer window. So I suppose we all have our own coping mechanisms.
BaselWorld promises to be a bit of a work in progress for the upcoming year. Yes, the big dogs will be there, but a few brands have, surprisingly, "upped stakes" and either moved off campus or are giving BaselWorld a pass full-stop. For all of them it is a question of economics. But not necessarily of the reasons you might think. For some, they are very short of funds, and they have gone to the well one time too many and their "benefactors" are no longer willing to pump money into a sinking ship. But other brands are starting to feel that it is not worth the price tag to remain at BaselWorld. So there will be a few brands sitting the fair out this year. Not due to lack of funds, but owing to the reality that there is a significantly reduced number of retail store owners coming to visit and actually place orders.
So as we are nearly just a few weeks away to kick-off, we watch and we wait.
And while it is never "warm and fuzzy" news to hear that people are losing their jobs, it is the reality of the situation. Losses have been steady, and higher up the food chain people were too frozen to make changes when they should have been made.
Over at GP/JEANRICHARD the HR Office has been burning the midnight oil as the staff org chart is changing faster than an English Premiere League during the transfer window. So I suppose we all have our own coping mechanisms.
BaselWorld promises to be a bit of a work in progress for the upcoming year. Yes, the big dogs will be there, but a few brands have, surprisingly, "upped stakes" and either moved off campus or are giving BaselWorld a pass full-stop. For all of them it is a question of economics. But not necessarily of the reasons you might think. For some, they are very short of funds, and they have gone to the well one time too many and their "benefactors" are no longer willing to pump money into a sinking ship. But other brands are starting to feel that it is not worth the price tag to remain at BaselWorld. So there will be a few brands sitting the fair out this year. Not due to lack of funds, but owing to the reality that there is a significantly reduced number of retail store owners coming to visit and actually place orders.
So as we are nearly just a few weeks away to kick-off, we watch and we wait.
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