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MB&F; Introduces the LM Perpetual EVO SJX Watches
MB&F; Oct 13, 2020

MB&F; Introduces the LM Perpetual EVO

The most complicated MB&F; watch when it was launched in 2015, the LM Perpetual (or LM QP) was powered by an ingenious movement combining a “split” escapement and a novel perpetual calendar mechanism developed by Irish watchmaker Stephen McDonnell. Now MB&F; has reworked the watch to create its sportier and more robust successor, the LM Perpetual EVO. Featuring several tweaks to the case, dial, and movement that are cumulatively significant, the LM Perpetual EVO boasts increased water resistance along with an integrated rubber strap. The LM Perpetual EVO is a limited edition of 15 watches each in black, blue, and orange Initial thoughts Even though the Legacy Machine (LM) line was conceived as something inspired by the 19th century and Jules Verne, the LM Perpetual with its open-worked, intricate dial was always stylishly modern, though that was toned down by the white-lacquered sub-dials of the original model. The EVO, however, makes full use of the open-worked dial to become an uber-contemporary watch. Both the material and construction of the case are new: it’s now zirconium with a more complicated architecture, featuring recessed sides and angular lugs that integrate with the strap. And the sub-dials are black, creating a striking contrast against the base plate in black, blue, or orange. Most notably, the EVO brings to mind the Harry Winston Project Z1, which was the other major product developed by MB&F; founder Maximilian Büsser when he was chief executive of ...

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Auction Watch: Philippe Dufour Simplicity Sells for Record US$662,000 SJX Watches
Oct 9, 2020

Auction Watch: Philippe Dufour Simplicity Sells for Record US$662,000

Sotheby’s fall watch auction in Hong Kong included a diverse selection of independent watchmaking, including two examples of the Philippe Dufour Simplicity, both with silver guilloche dials. The first to go on the block was a 37 mm specimen in white gold with a movement number of 68. It sold to a client represented by Joey Luk of Sotheby’s watch department for HK$3.528m including fees, which is a little over US$455,000. That was substantially above the US$250,000-300,000 range that the Simplicity had generally sold for, setting a new record for the model. The next lot was a 34 mm Simplicity in platinum, numbered “100”. And then the record was broken. After a few minutes of back and forth between an online bidder, as well as phone bidders represented by Ms Luk and John Chan, also of Sotheby’s watch department, Mr Chan’s bidder triumphed with a bid of HK$4.1m. Inclusive of fees, the total was HK$5.136m, or about US$662,000, well over double the most recent high for the Simplicity. Part of the reason behind the price is rarity, not only absolute but also relative to other Simplicities. Platinum is unquestionably the rarest metal version for the watch, and 34 mm examples is are regarded to be fewer than 37 mm. The record price for both watches bode well for the Simplicity 20th Anniversary “00/20” – fresh from maker and offered by Mr Dufour himself – that will be sold at Phillips’ November auction in Geneva.  

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Aquastar Introduces the Deepstar Chronograph SJX Watches
Oct 9, 2020

Aquastar Introduces the Deepstar Chronograph

Originally founded in 1962 to capitalise on the popularity of leisure diving at the time, Aquastar specialised in making diving instruments and notched up several patents, such as a “no-decompression” bezel. But like the rest of the Swiss watch industry in the 1970s, the Aquastar suffered during the Quartz Crisis and faded away, although it never really died. Now it’s been resurrected and makes it debut with, unsurprisingly, a vintage remake with the Deepstar Chronograph. Initial thoughts The Deepstar is obviously a watch of the 1960s, with the angular, tonneau-shaped case and dial design giving away its origins. The retro-diver look is now back in vogue, which was no doubt a reason behind the revival of the brand. And the popularity of the design is for good reason. It is clean and attractive, and unusual compared to today’s dive watches (although vintage remakes are increasingly common). The vintage Deepstar All of the best elements of the vintage original are found on the remake, including the oversized, “big eye” minute register. And though it’s larger than the 37 mm original – a necessity due to the La Joux-Perret movement inside – the remake is 40.5 mm, smallish by today’s standards, which means it still retains the vintage feel. Aside from the true-to-original grey dial, the Deepstar is also offered in black and blue, with an “early-bird” price of US$2,790 (which rises to US$3,590 after the initial run of 300 pieces in each colour). The pre-...

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INTRODUCING: The Omega Seamaster Diver 300M Chronograph Gold Titanium Tantalum redefines the luxury diver Time+Tide
Omega Seamaster Diver 300M Chronograph Sep 28, 2020

INTRODUCING: The Omega Seamaster Diver 300M Chronograph Gold Titanium Tantalum redefines the luxury diver

Omega’s lines between utility and luxury are ever-blurring, and increasingly confusing to people who like to categorise watches into strict genres and tropes. The truth is, the centuries-old Swiss powerhouse is constantly proving that you can have high-performance, high-specification and high-flex wristwatches without spending anywhere near as much as the competition. More to the point: … ContinuedThe post INTRODUCING: The Omega Seamaster Diver 300M Chronograph Gold Titanium Tantalum redefines the luxury diver appeared first on Time+Tide Watches.

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Raketa Introduces the Big Zero Malevich SJX Watches
Raketa Sep 22, 2020

Raketa Introduces the Big Zero Malevich

Having been reenergised with some Swiss marketing savvy, Russian watchmaker Raketa has revived some of its Soviet-era classics and now debuts the striking Big Zero Malevich. The Big Zero Malevich reproduces one of the artist’s most famous works with tiny pieces of mineral stone, creating a stark, geometric mosaic on the dial. Created in partnership with the State Tretyakov Gallery, the Big Zero Malevich is a limited edition of 300 watches, with a portion of the proceeds from its sale going to the museum. Initial thoughts Art rarely translates well onto a watch dial, especially for an affordable price, but the Big Zero Malevich manages to pull it off. It appeals visually, but also in terms of materials – the dial is not just printed but instead a mineral stone mosaic. As an aside, shorter hands would have maximised the impact of the black square on the dial – the hands would blend into the square entirely – but that would have made legibility impossible. The only downside is the simple case and no-frills movement, but with a price tag of a little over US$1,400, the Big Zero Malevich is priced well. Abstract mosaic A watch brand owned by the Petrodvorets Watch Factory, which has its origins in 18th century Tsarist Russia, Raketa is now owned by English and French investors who recruited former Jaquet Droz chief executive Manuel Emch as a consultant. An industry veteran who’s an art collector himself, Mr Emch is no doubt responsible for the tie up with Tretyakov Ga...

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Hamilton Introduces the Khaki Aviation Converter SJX Watches
Breitling s Navitimer but used Sep 17, 2020

Hamilton Introduces the Khaki Aviation Converter

Once an American watchmaker that was a global giant, Hamilton is today a Swiss brand best known for its value-proposition, vintage-inspired watches – and providing watches for several Hollywood films. Its speciality is exemplified by watches like the Khaki Field Mechanical, a robust, military-style watch that costs less than US$500. Hamilton has just unveiled a new collection of affordable pilot’s watches, the Khaki Aviation Converter. The line up is made up of three watches – time and date, GMT, and chronograph – all equipped with a slide-rule bezel for cockpit calculations and conversions. From left: the base model automatic, the GMT, and the chronograph in two variants Initial thoughts As with the most of the watches in the Khaki collection, the Converter is appealing in design and no doubt solidly, if simply, constructed. While it might not be the most original in design – the slide-rule bezel is synonymous with Breitling’s Navitimer but used by many brands – the Converter is strong value. Starting at US$995 for the automatic and rising to US$2,145 for chronograph, the collection is a good entry into watches featuring a slide-rule bezel. The bezel features double-row knurling for good grip The generic design aside, it is heartening to see that attention has been paid to the details. With the large, luminous hands and contrasting colours, legibility appears good. The movements are visible through the case back, something that can be captivating for a beg...

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The new Seiko Prospex “Save the Ocean” SRPE33K has a scratched blue ocean dial you have to see to believe… Time+Tide
Seiko Prospex “Save Sep 16, 2020

The new Seiko Prospex “Save the Ocean” SRPE33K has a scratched blue ocean dial you have to see to believe…

An automatic dive watch that brings value to both your wrist and environmental efforts, the Seiko Prospex Save the Ocean SRPE33K is the latest special edition made in honour of protecting the ocean. Across the board, Seiko is known for providing high horological value at lower price points than its Swiss peers and the “Save … ContinuedThe post The new Seiko Prospex “Save the Ocean” SRPE33K has a scratched blue ocean dial you have to see to believe… appeared first on Time+Tide Watches.

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INTRODUCING: The Bulgari High-End Watch 2020 Novelties show the “jeweller of time” in absolutely top form Time+Tide
Bulgari High-End Watch 2020 Novelties Sep 15, 2020

INTRODUCING: The Bulgari High-End Watch 2020 Novelties show the “jeweller of time” in absolutely top form

It cannot be refuted how much Switzerland has influenced horology and the luxury watch industry at large. As a result, designs across brands can seem familiar when they all draw from the same well of inspiration and technique. Bulgari, however, continues to stand out from the pack, blending its Swiss watchmaking know-how with its Italian … ContinuedThe post INTRODUCING: The Bulgari High-End Watch 2020 Novelties show the “jeweller of time” in absolutely top form appeared first on Time+Tide Watches.

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Frederique Constant Introduces the Highlife Perpetual Calendar SJX Watches
Frederique Constant Introduces Sep 10, 2020

Frederique Constant Introduces the Highlife Perpetual Calendar

Long focused on affordable mechanical watches, Frederique Constant continued with its specialty after its acquisition by Japanese watchmaking giant Citizen. Now the Swiss brand has just revived its bestseller from two decades ago, the Highlife collection, which has been redesigned extensively. It’s a new watch in all but name – the revamped Highlife harks back to the integrated-strap of the original, but it is a design very much catered to today’s taste. The Highlife Perpetual Calendar Manufacture The new Highlife collection debuts with three models that share the same tonneau-shaped case and integrated bracelet with quick-release pins. The most interesting watch of the trio is the Highlife Perpetual Calendar Manufacture, which is affordable despite its in-house movement and styling that’s reminiscent of more expensive watches. The other two models in the line up are simple automatics: one is time-only with an “Open Heart” dial revealing the balance wheel, and the other is a COSC-certified three-hander with date. Highlife Automatic COSC The Highlife Heart Beat Initial thoughts The Highlife manages to translate the look of high-end luxury-sports watches into an affordable watch by keeping a few design elements and simplifying everything. It is unavoidably derivative in style, but competently designed. So the 41 mm case is a simple affair with simple lines and surfaces, but dressed up with a polished, domed bezel. However, it avoids looking too plain even with t...

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Breaking News: LVMH Abandons Tiffany Takeover SJX Watches
Louis Vuitton Dior Sep 9, 2020

Breaking News: LVMH Abandons Tiffany Takeover

Announced shortly before COVID-19 made the news, the US$16 billion deal to take over Tiffany & Co. has been scrapped by LVMH. The French luxury conglomerate, which counts Louis Vuitton, Dior, and Hublot amongst its brands, cited the looming tariffs on French goods announced by the United States. That led to instructions from the French government to delay the deal until January 2021, according to LVMH. Another reason cited by the French group was Tiffany’s request for extension of the closing date for the deal, from November to December. In response, Tiffany filed a lawsuit in the United States, seeking to force LVMH to complete the deal. Regardless of the motives behind the withdrawal, it appears to be a shrewd move by LVMH, which is controlled by Bernard Arnault, the richest man in France and widely regarded to be a hard-nosed dealmaker. In the 10 months since the deal has been announced, the world has changed drastically. The state of the the industry makes it likely that LVMH will be able to find cheaper avenues to cement its position as the world’s biggest luxury group. Tiffany shares fell almost 10% in pre-market trading on the news, while LVMH declined about 0.9% during the trading day in Paris.  

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Artist and Watch Collaborations: Blurred Lines Between Fine Art, Fashion, and Consumerism | Part 1: Movado Two Broke Watch Snobs
Movado Sep 2, 2020

Artist and Watch Collaborations: Blurred Lines Between Fine Art, Fashion, and Consumerism | Part 1: Movado

The concept of the watch is no longer a tool, but a medium-and in a category of its own alongside sculpture or painting (consider Moser’s high-art Swiss Cheese Venturer or Swiss Alp Repeater). If this is something you’re willing to entertain, then it’s worth acknowledging the contributions of several dismissed brands and the artists behind them.

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MICRO MONDAYS: The Boldr Venture Sandstorm might be the best value titanium watch on the market Time+Tide
Boldr Venture Sandstorm might be Aug 23, 2020

MICRO MONDAYS: The Boldr Venture Sandstorm might be the best value titanium watch on the market

Yes, it’s a very bold opening line. In fact, this is no boldr (sorry!) than a simple statement of the facts, should you sum up the parts, starting with a titanium watch with 200m water resistance for under $300 USD including shipping. Boldr Supply Co. is an established microbrand with five watch lines, and a … ContinuedThe post MICRO MONDAYS: The Boldr Venture Sandstorm might be the best value titanium watch on the market appeared first on Time+Tide Watches.

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INTRODUCING: The Hublot Big Bang Sang Bleu II White, a geometric ice palace for the wrist Time+Tide
Hublot Big Bang Sang Bleu Aug 16, 2020

INTRODUCING: The Hublot Big Bang Sang Bleu II White, a geometric ice palace for the wrist

Hublot’s Big Bang series has always been slightly outrageous since its 2005 release, but intentionally so. Large, loud, and undoubtedly luxurious, there could be no better candidate for a collaboration with Maxime Plescia-Büchi. The Swiss tattooist is responsible for the sprawling platform that is Sang Bleu, covering and influencing tattoos, clothing, typography, art - both … ContinuedThe post INTRODUCING: The Hublot Big Bang Sang Bleu II White, a geometric ice palace for the wrist appeared first on Time+Tide Watches.

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Behind The Lens: Beat Haldimann H1 Flying Central Tourbillon - Reprise Quill & Pad
Aug 15, 2020

Behind The Lens: Beat Haldimann H1 Flying Central Tourbillon - Reprise

In GaryG's view, every successful independent watchmaker has elements of a “house style” that may attract some buyers and put off others, but nonetheless set him or her apart. And, at the highest level, this style goes beyond “branding” to become an expression of the personality and artistic vision of the creator. In the picturesque Swiss town of Thun, Beat Haldimann and his small team distinguish themselves by focusing on technical virtuosity of the highest order as typified by the Haldimann H1 Flying Central Tourbillon.

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NEWS: Smartwatches set for 10% decline in 2020, while wearables power on in the pandemic, up 137% Time+Tide
Aug 13, 2020

NEWS: Smartwatches set for 10% decline in 2020, while wearables power on in the pandemic, up 137%

We recently reported that the Apple watch has gone from strength to strength in the last reporting period, and now outsells the entire Swiss watch industry to the tune of 10 million watches. Smartwatches, as a category however, are not exactly sweeping all before them in 2020. While wearables have seen significant growth over the … ContinuedThe post NEWS: Smartwatches set for 10% decline in 2020, while wearables power on in the pandemic, up 137% appeared first on Time+Tide Watches.

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Ulysse Nardin Skeleton X Hands-on Review WatchAdvice
Ulysse Nardin Skeleton X Hands-on Review Aug 6, 2020

Ulysse Nardin Skeleton X Hands-on Review

Innovation is a word that is symbolic of the famous Swiss watch brand Ulysse Nardin. The brand has created some fantastic movements as well as designs that defy belief. A true testament to this is Ulysse Nardin’s Skeleton X model. Released back in 2019, the Skeleton X model belongs to Ulysse Nardin’s Executive collection. A collection which has been disrupting the watchmaking industry, with timepieces inspired by the sea.  The Ulysse Nardin Skeleton X comes in Titanium, Titanium Black, Rose Gold, and Carbonium case design, with all of them having the same skeleton dial design and movement. It does also come in two sizes; a 42mm and 43mm case size.  Ulysse Nardin Skeleton X – 42mm Case We have our hands on the 42mm Skeleton X in titanium black DLC. Ulysse Nardin has drawn inspiration from the letter X for the design of the skeleton dial. As the brand put it themselves “more than a means, exploring has become Ulysse Nardin’s motivation. The X-factor is the answer: X like an adventure, X like our deepest desires, X for the unknown, X for what’s forbidden, bold and exciting.” The hour indices at 1 o’clock, 5 o’clock, 7 o’clock and 11 o’clock are partially connected to form the “X” shape.  The hour indices at 1 o’clock, 5 o’clock, 7 o’clock and 11 o’clock are partially connected to form the “X” shape The open-worked dial on the Ulysse Nardin Skeleton X takes skeletonisation to new heights. Only the bare necessities are left on the moveme...

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Exploring the 10 Grand Seiko models exclusive to the US market Time+Tide
Grand Seiko models exclusive Jul 31, 2020

Exploring the 10 Grand Seiko models exclusive to the US market

With the United States being one of the largest importers of Swiss watches, it should come as no surprise that Grand Seiko wants to try to grab a larger share of the market. To tackle the US, Grand Seiko has a dedicated team in America - Grand Seiko America - to introduce the wonders of the … ContinuedThe post Exploring the 10 Grand Seiko models exclusive to the US market appeared first on Time+Tide Watches.

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The Seiko Prospex LX SNR035J looks like it’s been sent to put a hit on anyone that questions its (high) price point Time+Tide
Seiko Prospex LX SNR035J looks Jul 15, 2020

The Seiko Prospex LX SNR035J looks like it’s been sent to put a hit on anyone that questions its (high) price point

Editor’s note: There’s the simple fact that Seiko are turning up the heat on the Swiss watch industry, and then there’s the way they’re doing it. Both are 100% worth taking note of. For example, let’s re-examine the Seiko Prospex LX SNR035J, a high-spec Spring Drive GMT at a shade under $8000AUD, that carries with it a murdered … ContinuedThe post The Seiko Prospex LX SNR035J looks like it’s been sent to put a hit on anyone that questions its (high) price point appeared first on Time+Tide Watches.

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Business News: Swatch Group Sales Plunge on Pandemic Closures SJX Watches
Longines had Jul 14, 2020

Business News: Swatch Group Sales Plunge on Pandemic Closures

Swiss watchmaking conglomerate Swatch Group just announced its half-year 2020 results and unsurprisingly, it took a huge hit due to the COVID-19 pandemic. Although the group, which owns brands like Omega and Longines, had a good start in January with an operating margin of 17.3% – with the watch and jewellery brands performing a bit better than movement- and component-production division – the lockdown progressively imposed across the world since February severely impacted sales, leading to a steep declines in revenue and half-year operating loss, a first for the group. Group sales for the first half plunged 43.4% at constant exchange rates from a year earlier, resulting in an operating loss of CHF327m, compared to a profit of CHF547m for the same period in 2019. Most of the drop in sales was attributed to the lockdowns in most countries, resulting in widespread store closures. The Swatch Group saw up to 80% of both its own boutiques and third-party retailers close, meaning it had to rely on partially “partially feasible” e-commerce. And even after lockdowns were lifted, the group permanently vacated some of its retail space, as evidenced by disputes with its former landlord in Hong Kong, which has sued the Swatch Group for several million in allegedly unpaid rent. Due to its swiftly-streamlining retail network, the group’s employee count was trimmed by 6.5% since December 2019 to approximately 33,700 employees. This was also confirmed by anecdotal evidence fro...

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Auction Watch: Unique Daytona “Zenith” Becomes Most Expensive Modern Rolex SJX Watches
Zenith Becomes Most Expensive Jul 11, 2020

Auction Watch: Unique Daytona “Zenith” Becomes Most Expensive Modern Rolex

Having just set the record for a modern Rolex wristwatch two years ago when a unique, platinum Daytona ref. 16516 with a Zenith movement sold for US$871,000, Sotheby’s broke its own record with yet another one-off Daytona in platinum that sold for HK$25,375,000, or about US$3.27 million, fees included. The Daytona became the most valuable modern Rolex despite having been relatively under the radar prior to the sale. While the platinum Daytona sold in 2018 was widely published in the press and social, today’s example was not covered by any of the key horological publications. And it was depicted with a bizarre turquoise leather strap in catalogue photos, though the strap was replaced with one in a neutral shade of tan during the preview exhibition. The famous five Both were part of a five-piece run of Zenith Daytona watches with platinum cases made at the request of former Rolex chief executive Patrick Heiniger in 1999. The late Heiniger reputedly kept one for himself, and gifted the others to key business partners. The watch sold in 2018 for instance was a wedding gift a member of the family that was a longtime Rolex retailer in Italy. All share the same model reference 16516, but each was unique in having a different dial made of an exotic or precious material. The example sold in 2018 had a dark mother of pearl dial, which was also found on the standard-production white gold Daytona of the period. In contrast, the platinum Daytona that just sold at Sotheby’s has a ...

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Omega Introduces the Constellation Gents’ 41 mm with Ceramic Bezels SJX Watches
Omega Introduces Jul 9, 2020

Omega Introduces the Constellation Gents’ 41 mm with Ceramic Bezels

One of the longest-lived models in the Omega line up, the Constellation with its characteristic “claw” bezel made its debut in 1982 as the Constellation Manhattan. Still looking like a 1980s design many years after that, the collection was face-lifted this year and given a smart new look that retained all of the key elements but with tighter, more modern lines. Now Omega has just taken the covers off the flagship men’s model, the Constellation Gents’ 41 mm that features an unusual combination of a metal case, polished ceramic bezel, and an integrated strap or bracelet. Initial thoughts Offered in a variety of striking dial and bezels combinations – with the red gold and blue ceramic being the most striking – the latest Constellation is the most noteworthy of any recent model. Despite the number of iterations, each model has a cohesive look with all the elements complementing each other. My favourite is undoubtedly the steel version with a irregularly textured dial thats adds visual appeal and intricacy compared to its counterparts with simpler dial finishes. Regardless of iteration, the new Constellation also has a slightly sporty look that is appealing, unlike earlier attempts at a sporty Constellations – like the chunky Constellation Double Eagle – that fell flat. Overall its a good-looking but affordable luxury-sports watch in steel And it does look much better in 18k gold, but then it costs three times as much. Shiny ceramic What makes them special a...

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Kudoke Introduces the Kudoke 2 Nocturne SJX Watches
Ming simplicity yet equipped Jul 6, 2020

Kudoke Introduces the Kudoke 2 Nocturne

German independent watchmaker had a hit when it debuted the Kudoke 2 last year. Combining hand-engraved decor with an affordable price tag, the watch was well received by enthusiasts while also enjoying critical acclaim, winning the Petite Aiguille – the category for watches under 10,000 Swiss francs – at the 2019 Grand Prix d’Horlogerie de Genève (GPHG). The Kudoke 2 Nocturne is a limited edition variant of the standard model in a run of only 20 pieces, a nod to the 20th year of this century. While the standard version features a silver-and-gold palette, the Nocturne is dressed in shades of grey, both on the dial and movement. Initial thoughts The Kudoke 2 was one of last year’s more compelling watches for me. Not only is it priced well, but the watch has a refined yet German aesthetic that’s pleasing. The watch is clean, with no superfluous elements to distract from its charming simplicity, yet equipped with several attractive classical details. And the Nocturne has a slightly more modern look than the original, despite having the same design. The movement, developed with the help of Habring2, has a unique style and excellent finish, especially considering the price of €8,665, or a little under US$10,000, which is the same price as standard version. With artful hand engraving and an original movement, the watch screams value proposition. A new face Having an identical design as the standard model, the Nocturne retains the clean, symmetrical look of the...

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INTRODUCING: A breath of fresh Classic Fusion, Hublot’s Aerofusion Chronograph Special Edition “Boutique Monaco” Time+Tide
Hublot s Aerofusion Chronograph Special Jul 1, 2020

INTRODUCING: A breath of fresh Classic Fusion, Hublot’s Aerofusion Chronograph Special Edition “Boutique Monaco”

How do you celebrate a first birthday? Balloons? Candles? Maybe a cake? That’s what most folks would do. Hublot, however, like to do things a little differently. That’s why, to mark a year since their Monaco boutique opened, the provocative Swiss watchmaker has unveiled this – the Hublot Classic Fusion Aerofusion Chronograph Special Edition “Boutique … ContinuedThe post INTRODUCING: A breath of fresh Classic Fusion, Hublot’s Aerofusion Chronograph Special Edition “Boutique Monaco” appeared first on Time+Tide Watches.

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State of the Industry: The Luxury-Watch Market in China After the Pandemic SJX Watches
Louis Vuitton boutique Jun 25, 2020

State of the Industry: The Luxury-Watch Market in China After the Pandemic

By far the most important markets for luxury watches, China and Hong Kong together accounted for over 21% of Swiss watch exports in 2019 according to trade body Federation of the Swiss Watch Industry. Add to that Chinese travellers who buy watches overseas, and the fact is the luxury-watch business is dependent on Chinese demand. So the crucial question for the watch industry’s future – what’s happening in the Chinese watch market post-pandemic? On May 10, one of the trending topics on microblogging platform Sina Weibo was the US$30 billion plunge in the net worth of LVMH chief Bernard Arnault, mirroring the sharp drop in LVMH shares. But barely a week before – exactly a month after the end of Wuhan lockdown – there were nearly 100 customers queuing outside the Louis Vuitton boutique in Shanghai’s Plaza 66, all eager to shop before the brand’s price hike. The line outside Louis Vuitton reflected the rebounding demand for luxury goods in China as it emerged from a lockdown. “Macro Data Indicates a Surge in Consumption” – read the headline in the business-focused Workers’ Daily newspaper on May 16. The sentiment is backed up by the latest data from the National Bureau of Statistics of China published in mid June. Though the statistics indicate retail sales of consumer goods declined 13.5% on a nominal basis from January to May, totalling RMB1,387.3 billion for the year to date, the monthly figures indicate a recovery is underway. The monthly numbers s...

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