Radar Horológico — 12 November
The day in brief
In Porto, Marcolino marks its hundredth anniversary with more than 200,000 Christmas lights on the façade of its Rua de Santa Catarina shop, switched on this Saturday. Fossil Group returned to profit in the third quarter and raised its outlook for the year. Subdial has raised $20 million to enter the United States, and Unia has until today to propose alternatives to the job cuts at Zenith. Kerbedanz sold the unique watch it created for Watches for ELA for CHF 48,640.
Marcolino marks its centenary with more than 200,000 lights on its façade in Porto this Saturday
Marcolino, the watch and jewellery shop founded in Porto in 1926, will switch on more than 200,000 Christmas lights on the façade of its Rua de Santa Catarina shop on Saturday 14 November at 6 pm, in the year it turns one hundred. The installation uses about 20 kilometres of light strings, the opening show brings together 20 artists and the organisers expect more than 10,000 people; the lights stay on until 6 January. The Neves family, who run the business, are also preparing a new shop across the street, designed by Álvaro Siza Vieira and due at the end of 2027. Read the full story.
Fossil Group returns to profit as analogue watch sales rise
Fossil Group made a net profit of $11.7 million in the third quarter to 3 October, after a $39.9 million loss a year earlier. Sales rose 2% at constant currency to $271.2 million, with analogue watches up 6.4% and Asia up 15.1%, while Europe fell 5.6%. Gross margin reached 59.8% and the company now expects 2026 sales of $980 million to $990 million. Read the full story.
Subdial raises $20 million to enter the United States in 2027
Subdial, the British pre-owned luxury watch specialist founded in 2018, has closed a $20 million funding package, with a Series B round led by Gresham House Ventures and a bank credit line, to grow in the United Kingdom and open in the United States in 2027, probably in New York. Co-founder Christy Davis is moving to run the new business, which will have its own inventory and a Clubhouse modelled on the London one. In its last financial year, the company had revenue of £21.6 million. Read the full story.
Unia has until 12 November to propose alternatives to the Zenith job cuts
The Unia trade union, mandated by Zenith's workers in Le Locle, has until today, 12 November, to submit proposals to save the roughly 100 jobs the manufacture wants to cut; management must respond by 16 November, before negotiations on the social plan. According to work, the union's newspaper, the LVMH-owned brand wants to sell only watches priced around CHF 50,000 by 2029. Read the full story.
Kerbedanz sells the unique watch created for Watches for ELA for CHF 48,640
The 65'27'' Tree of Life, the unique piece Kerbedanz created for the Watches for ELA charity sale held on 9 November at Christie's in Geneva, sold for CHF 48,640, which will go to ELA, the association fighting leukodystrophies. The 38 mm grade 5 titanium case houses the extra-thin automatic calibre KRB10, with a rotating hour disc and minute indication. The hour disc and the oscillating weight, in titanium with a honeycomb structure, were hand micro-painted by the artist Gezim Meta, in about 66 hours of painting and firing. Find out more on the brand's website.
What deserves attention
Fossil's results show that the affordable analogue watch sells again when the brand cuts costs and stores: growth came from Asia and wholesale, while Europe and the group's own stores fell back. In Switzerland, Zenith management's response to Unia's proposals, expected by 16 November, will show whether the restructuring in Le Locle can be softened.
Comments