INSIGHT-RADAR: News Briefs from the Watch Industry
The watch industry continues to evolve: leadership changes, positive financial results, and extraordinary brand collaborations are shaping current trends. INSIGHT-RADAR provides a concise summary of the most important news stories from the past few days.
In the spotlight in this issue of INSIGHT-RADAR: A farewell at Maurice Lacroix, strong half-year results from Hermès, and Swatch’s involvement in the 79th Locarno Film Festival.
Stéphane Waser is leaving Maurice Lacroix after 18 years
To many, he is Mr. Maurice Lacroix. Now, after 18 years, Stéphane Waser is leaving the Swiss watch brand. Waser joined Maurice Lacroix in 2008 and has led the brand as Managing Director since 2014. His tenure was marked by social and economic upheavals—from the global financial crisis to the COVID-19 pandemic and the war in Ukraine. At the same time, Maurice Lacroix evolved during these years into a successful Swiss watch brand focused on affordable luxury watches.
So far, there has been no official announcement from Maurice Lacroix. However, on his LinkedIn account, Stéphane Waser writes:
“After an incredible 18-year journey with Maurice Lacroix, I have decided that it is time to prepare for a new chapter. While I remain fully committed during this transition period, I would like to take a moment to express my sincere gratitude to everyone who has been part of this journey. To my colleagues, our partners, customers, suppliers, retailers, the media, and friends around the world—thank you very much for your trust, collaboration, and support over the years. It has been a privilege to work with so many talented and passionate people. Together, we have shared unforgettable moments, overcome real challenges, introduced exciting innovations, and helped shape the evolution of Maurice Lacroix. I am very proud of what we have built together. As I look ahead, I do so with gratitude, optimism, and genuine enthusiasm for what lies ahead.”
At Inhorgenta 2026, Stéphane Waser was my interview partner on the Watch Talks stage. When I asked him if he could imagine life without Maurice Lacroix, he replied:
Hermès Remains on a Growth Trajectory – Watch Division Posts Gains in the Second Quarter
The French luxury goods group’s consolidated revenue for the first half of 2026 totaled 8.2 billion euros. This represents a 6 percent increase at constant exchange rates, or a 2 percent increase at current exchange rates, compared with the same period a year earlier.
With the exception of the Middle East, all regions reported revenue growth. North and South America, Japan, and Europe (excluding France) performed particularly well—in the first and second quarters, respectively.
In the second quarter, Hermès reported revenue of 4.1 billion euros, representing a 7 percent increase at constant exchange rates. This marked a slight acceleration in growth compared with the first quarter, particularly in France, Japan, and the Middle East.
Axel Dumas, Executive Chairman of Hermès, commented: “Hermès posted strong results in the first half of 2026. This reflects the strong appeal of our 16 business segments and the trust of our customers. Thanks to the strength of our unique artisanal model and balanced corporate governance, we look forward to the second half of the year with confidence.”
Through the end of June, all business segments—with the exception of Fragrance & Beauty—reported growth. In particular, the Leather Goods, Ready-to-Wear & Accessories, Silk & Textiles, and Watches segments accelerated their growth in the second quarter.
The watch division remained stable overall in the first half of the year, but posted solid growth in the second quarter. At the same time, Hermès continues to expand its production capacity: The expansion of the watch manufacturing facility in Le Noirmont, Switzerland, is scheduled to be completed by 2028. hermes.com
Swatch: Main Sponsor of the 79th Locarno Film Festival
Swatch is once again the main partner of the Locarno Film Festival, which will take place from August 5 to 15, 2026. In addition to the limited-edition “Locarno79 Pay” collection, the brand is also organizing the festival’s official opening ceremony.
To this end, Swatch has invited British artist Sam Wilde, Artist-in-Residence at the Swatch Art Peace Hotel, to present his work “Precarious Pangolins” as a video installation. The installation will be shown at the festival’s opening on August 5 and will remain on view for the duration of the festival.
To support auteur cinema, Swatch is once again presenting the “Swatch First Feature Award,” worth 15,000 Swiss francs, to a talented filmmaker this year. swatch.com
