brandon1
842
The Kering statement that accompanied this news is even more troubling.
Sep 15, 2020,13:46 PM
“The sudden sales downturn caused by the pandemic, and thereafter, the watch sector’s timid recovery, have led to the decision to scale down these manufacturing capabilities,” the two brands said in a statement. Patrick Pruniaux, CEO of the two brands since 2018, said the economic repercussions of the pandemic were “likely to have a ripple effect over the next several years”.
Worrying that the cut backs relate to manufacturing capabilities.
Wishing them the best, of course, but it's clearly a dark time for these brands.
Best,
Brandon