Day: 23 February 2026

Anglo American has marked a dramatic decline in the valuation of its diamond subsidiary, De Beers, which now stands at $2.3 billion, down from $4.1 billion last year. The mining giant attributed this $1.8 billion hit to diminished diamond price forecasts amid shifting market conditions. As it navigates the sale of its Steelmaking Coal business and advances its nickel operations through regulatory channels, Anglo American remains committed to reassessing its stake in the diamond sector.

Pandora has appointed David Boynton as Managing Director for Northern Europe, marking his return to a leadership role after his tenure as CEO of The Body Shop. Boynton, who previously served as interim General Manager for Pandora’s Eastern Europe cluster, brings a wealth of experience from senior positions at notable brands. He aims to guide Pandora through its strategic transition into a comprehensive jewellery brand, emphasizing the company’s commitment to sustainability. In a statement, Boynton expressed his enthusiasm for this new chapter, highlighting the strong foundations and exciting opportunities ahead for the company.

eBay will sponsor the inaugural Women in Watches event on March 2 at London’s art’otel Battersea, aiming to empower and celebrate women in the watch industry. The event includes networking opportunities and panel discussions, fostering inclusivity by welcoming male attendees as well. With the backdrop of International Women’s Day, this gathering highlights the significant contributions of women and features the unveiling of WatchPro’s annual ‘Women in Watches’ list.

The BAFTA Awards 2026 not only celebrated cinematic achievements but also turned the spotlight on luxurious timepieces adorning the red carpet. Notable appearances included **Paul Mescal** in a classic Cartier Tank Basculante, while **Michael B. Jordan** impressed with a rare Vacheron Constantin Vintage Prestige. **Timothée Chalamet** showcased his taste for high-end horology with an Urban Jürgensen UJ-2, and **Leonardo DiCaprio** opted for the racing-themed Rolex Daytona ‘Le Mans’. Adding elegance, **Freya Allan** dazzled in a high-jewellery Piaget timepiece, underlining the distinct fusion of glamour and artistry at this prestigious event.

Private equity firm Partners Group has solidified its majority stake in Swiss watchmaker Breitling, having increased its ownership from 25% in 2021 following a $900 million acquisition from the Schneider family in 2017. However, the brand now faces challenges as sales plummeted to CHF 820 million in 2025, down from CHF 870 million in 2023, leading to a significant reduction in valuations from both Partners Group and CVC Capital, which currently holds a 23.6% stake valued at $4.5 billion. Despite an expansion of its retail network to 300 boutiques worldwide and an effort to shift its brand image, Breitling’s recent credit rating downgrade underscores increasing concerns over its financial stability amid declining revenues.

Former President Donald Trump has announced plans to raise global tariffs to 15% following a Supreme Court ruling that deemed his previous tariff authority unlawful. The court’s decision, which was a decisive 6-3, concluded Trump overstepped his bounds under the International Emergency Economic Powers Act. Employing a previously unused provision of the Trade Act of 1974, the administration aims to enforce the new tariffs, affecting trade agreements with countries like the UK and Australia. As concerns mount over increased costs for businesses and consumers alike, industry leaders warn of escalating economic uncertainty in the wake of this significant policy shift.

Ulysse Nardin has unveiled a striking new timepiece, the FREAK X, in collaboration with the Gumball 3000 rally. Limited to just 150 pieces, this edition features a bold black and orange color scheme and is crafted from innovative upcycled aerospace carbon fiber. Priced at £35,000 ($46,400), the FREAK X continues the watchmaker’s tradition of technical innovation and unique design, blending rally-inspired aesthetics with advanced horological features, including a no-dial concept and a 72-hour power reserve.

Fossil is reviving its iconic Big Tic Y2K Limited Edition in 2026, blending nostalgia with modern flair. First launched in 1999, this timepiece seamlessly merges analogue and digital displays. The new models feature vibrant animated flame graphics and a pocket watch variant, enhancing its appeal as a collectible accessory. With a focus on playful design and retro aesthetics, Fossil aims to capture the spirit of the late 1990s, inviting a new generation to enjoy this whimsical classic.