Kering has announced a €115 million acquisition of a 20% stake in the Raselli Franco Group, renowned for its luxury jewellery manufacturing. Set to complete by early 2026, this strategic investment aims to strengthen Kering’s oversight of the jewellery production chain, with plans for full acquisition by 2032. CEO Luca de Meo emphasized the significance of Raselli’s expertise in enhancing Kering’s ambitions within the sector. Raselli Franco’s commitment to innovation and sustainability aligns closely with Kering’s values, marking a new chapter in their partnership.
Day: 22 December 2025
Oris UK leader Paul Thurlow retires after five decades in the watch industry
Paul Thurlow, a stalwart of the British watch industry, has announced his retirement after an impressive 50-year career, including 25 years at Oris UK. Known for his charm and deep industry knowledge, Thurlow has been instrumental in nurturing strong relationships with retail partners, a cornerstone for independent brands like Oris. Colleagues expressed heartfelt gratitude for his support and collaborative spirit, marking his departure as a significant loss to the sector. As he steps into retirement, the legacy of Thurlow’s impactful career is set to resonate throughout the watch community.
Rolex prices to rise by 7% in the US amid inflation and tariffs
Rolex is set to increase prices in the US by an average of 7% starting January 1, 2026, following a string of hikes throughout the past year. Steel models will see a rise of about 5.6%, while gold variants will climb by nearly 9%. This adjustment is primarily driven by record gold prices, a weaker dollar, and a new 15% tariff on Swiss watch imports. Despite these pressures, the UK market remains stable, with potential increases of 5% to 10% anticipated as brands adapt to operational costs and consumer demand.
Laings reports increased sales despite ongoing profit decline
Laings has reported a sales increase of 7.7%, reaching £73.7 million for the year ending May 2025, thanks in part to its new flagship store in Glasgow. However, operating profit fell over 40% to £1.9 million, underscoring ongoing challenges in the luxury retail market. CEO Joe Walsh highlighted the showroom’s role in enhancing Glasgow’s luxury shopping landscape and outlined plans to shift focus towards fine jewellery and operational efficiencies. As the company celebrates its 185th year, Laings aims to strengthen its brand presence while elevating the client experience across its locations.
Independent retailers drive high street engagement, reveals new data
Independent retailers are emerging as key players in revitalizing high streets, according to new research from CACI. The data reveals that 35% of occasional shoppers desire more independent shops, with Wales showing the highest demand at 34%. Notably, Generation X and Baby Boomers demonstrate a stronger preference for independents compared to Millennials. As early Christmas shoppers increasingly gravitate towards areas with independent retailers, there lies a significant opportunity for local businesses to enhance customer engagement and boost festive spending. CACI’s insights suggest that fostering independent retail could turn occasional visitors into loyal customers, providing a vital economic boost for communities.