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The case of the 500 secondhand watches stuck in US customs limbo

US customs have blocked a large consignment of pre-owned luxury watches, highlighting the confusion that has arisen from the new duties introduced by the Trump administration.© Studio Pachamama

Thanks to the work of watch industry leaders, a hard-fought compromise on customs duties between the United States and Switzerland has just been reached, but grey areas remain, particularly in the pre-owned market. Glitz can reveal that a shipment of more than 500 secondhand timepieces has been held by New York customs for two months due to the duties dispute.

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Families

Galliano still doing battle with his ex-lawyers

In June 2023, the fashion designer successfully sued the lawyer Stéphane Zerbib and his law firm partner for siphoning off hundreds of thousands of euros, including his royalties as creative director at Dior. But he has still not recovered these sums in full.

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Houses

Baume & Mercier CEO in talks with Richemont over a management buyout

Michael Guenoun has put together a consortium to purchase the watch company from his employer, the Swiss giant Richemont.

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Balmain gambles on new designer with chequered financial track record

In search of a second wind, the Parisian fashion house has opted for a creative director in the person of Antonin Tron whose own brand has been through the financial wringer in recent years.

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Entourage

Lab-grown competition prompts diamond lobby to push for new conflict diamond rules

To counterbalance competition from lab-grown diamonds, marketed as more ethical by their producers, the diamond industry lobby is calling for a modernisation of a mechanism put in place in 2003 to stem the trade in so-called conflict diamonds.

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Brands urge French cities to clamp down harder on market counterfeit trade

France's main anti-counterfeiting trade association is pushing the message that outdoor markets are the primary channel for offloading fake luxury merchandise.

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