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EbelFive Years Unconditional Guarantee

Since 2 April, Ebel has been offering a 5-year unconditional international guarantee on all its watches, the longest currently offered in the sector. Justification for this is based on the company’s absolute mastery of all stages of the watchmaking process.

To celebrate the event, Ebel is issuing a special version of its emblematic model 1911, available in two limited editions. Striking in their sobriety, these timepieces place the emphasis on the numeral 5, a symbol of harmony and balance applied to a refined black dial that is "bereft" of any other functional indication:
· the Golden Five, featuring an automatic movement with two hands, boasts a luxurious case in yellow gold and a sapphire back cover, and comes with a black crocodile watch-strap. Limited to 5 pieces, it will create exceptional interest among potential buyers;
· the Silver Five, with its quartz movement, features in addition a centre seconds-hand and a steel case with a matching black leather watch-strap. It will be produced in 1500 pieces.

Audemars PiguetA Boutique In New York

At No. 40 on 57th Street (between Park Avenue and Madison Avenue), in the heart of the New York "fashion district", the new Audemars Piguet boutique, the first of its kind in the United States, opened its doors on 19 May 2003. It sells the brand’s full range, together with the Royal Oak La Mer jewellery collection created by Alberto Repossi.

The boutique occupies an entire five-storey building. One floor is dedicated entirely to special events. The offices of Audemars Piguet North America occupy the last two floors. The architect, Marco Carrano, who has worked with such prominent customers as Bulgari and Ferragamo, has been selected to implement this project. Xavier Casals, who has been cooperating with Audemars Piguet for many years, was given the contract for the interior decoration work.

The Managing Director of the Le Brassus manufacturing company, Georges-Henri Meylan, comments: "The inauguration of our first boutique in the United States reflects the strategy that we have put in place during the last few years for distribution and retail trade in order to establish closer ties with the final consumer. We control the bulk of our global distribution through our subsidiaries and boutiques. This enables us to control the image of our brand and establish a direct dialogue with our customers ".

François-Henry Bennahmias, Chairman of Audemars Piguet North America, adds: "Since we took over distribution in the USA in 1999, the brand has been successfully repositioned. The opening of an Audemars Piguet store will enable us to increase the American public’s familiarity with our name, so making our corporate values better known, i.e. tradition, excellence and innovation. This is a splendid operation and we are certain we have made the right choice ".

2002 Results Of The Swatch GroupAlmost As Good As In 2001!

Following last February’s announcement of a turnover in 2002 of 4,063 million francs, down 2.8% compared to the previous financial year, the financial results of the Swatch Group for the same year were awaited at the end of March with a degree of anticipation. In view of the economic gloom that held sway all last year and exchange rates that were increasingly unfavourable to exporting industries, they can be regarded as highly satisfactory: the consolidated operating profit of the group, which is based in Biel, fell by only 1.9% to 632 million francs, while net profit came in at 494 million (-2.0%). On this basis, the board decided to propose to the general meeting of 28 May an increase in the dividend of 10%, to 0.22 franc per registered share, and 1.10 franc per bearer share.

By segment of activity, results progressed very differently: while the finished watch sector was generally in line with an operating profit down by 1.5% to 515 million, the manufacture of watch movements and components saw an increase in profits of 27.7% to 83 million (essentially the result of innovations in the products field and a higher share of mechanical watches), while electronic systems, confronted by very difficult conditions, particularly with regard to mobile phones, saw its operating profit fall by 24.4% to 59 million.

The Swatch Group is expressing confidence in the current year. It bases this positive attitude on the good start to consumer sales in the first two and a half months, and on the fact that operating profit for the same period is also showing an upward trend. It points out however "that it would not be very realistic, in the current context of geopolitical and economic tensions, to issue a precise forecast of profit and sales for the current year". Particularly with an upwardly mobile Swiss franc adding its weight to the aforementioned macroeconomic risks.