Elephants get a break as Cites opens in Bangkok

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GENEVA, SWITZERLAND – The Cites meeting to review the state of the world’s endangered species opened this weekend in Bangkok, Thailand, with a promise from the country’s foreign minister that trading in ivory in the country would be brought to a halt. Thailand’s laws allow some trade but it is also a centre for illegal […]

Swatch sales top CHF8b, forecast 5-10% annual growth

Watchmaker forecasts 5-10% growth annually for long-term GENEVA, SWITZERLAND – The Swatch Group in Biel/Bienne says its sales topped the goal of CHF8 billion in sales in 2012, a 14.14 percent increase and CHF1b more than in 2012, in a market the company labelled “extremely nervous”. Net income was CHF1.6 million, a 26 percent increase […]

Vasella leaving Novartis after 17 yrs, ex-no. 2 brought in

Company expects 2013 to solidly match 2012 despite generics fight BASEL, SWITZERLAND – Daniel Vasella, who has led Novartis for 17 years to its position today as Europe’s largest pharmaceutical company, is stepping down as chair of the board in February, the company announced 23 January. Shares in the firm rose 2.6 percent when the […]

We love our cold coffee: 6 swimming pools’ worth of milk!

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ZURICH, SWITZERLAND – Emmi’s 2004 recipe for little cups of cold coffee is holding its own, and giving Swiss dairy farmers a boost. The company says it has crossed the line for 100 million cups sold, two-thirds of them outside Switzerland, all made from fresh Swiss cows’ milk. The UK, Germany and Austria are the […]

Watch sales strong at Swatch

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GENEVA, SWITZERLAND – Swatch Group sales remained strong in 2012, the company said Thursday 10 January, with turnover up by CHF1 billion, a 14 percent increase for a total of CHF8,143b. The lion’s share of turnover is in the watches and jewelry sector, which saw 15.6 percent growth. “Good operating profit and net income [are] […]

‘Tis the season for mega-sales of diamonds and watches

The Archduke Joseph Diamond ©Tony Falcone

GENEVA, SWITZERLAND – Geneva is hosting auction houses’ annual November watch and diamond sales, with the highlight likely to be the Archduke Joseph diamond auction Tuesday 13 November, starting at 19:00 at the Hotel des Bergues. The diamond’s historic and gem purity value has its estimated sales price at CHF15 million, a figure given out […]

Nestlé’s good 2012 continues (update)

Company will double Chinese R&D GENEVA, SWITZERLAND – Food and health products giant Nestlé says it expects to deliver organic growth of 5 to 6 percent for the year, in line with expectations announced earlier, after showing an 11 percent increase in sales to CHF67.6 million for the first nine months of 2012. Sales grew […]

Novartis sales perk up

BASEL, SWITZERLAND – Swiss pharmaceutical company Novartis says 2012 earnings will be down, as expected, with old drug patents expiring and a sudden rise in the dollar hitting second quarter sales, but the slip will be less than expected. The company issued its Q2 results Thursday 19 July, showing sales down 4 percent to $14.3 […]

Art Basel defies economic jitters

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BASEL, SWITZERLAND – The world’s largest contemporary art fair, Art Basel, opened to private “First Choice” collectors Tuesday 12 June, with major galleries claiming solid sales in spite of ongoing international economic jitters. In talks with GenevaLunch, galleries refused, in their standard secretive mode, to divulge actual sales figures on the first day of the […]

Shares may be down, but jewels are definitely up

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Two big auction houses realize Monday sales of more than $40 million, more to come GENEVA, SWITZERLAND – The Swiss franc is a pale safe haven in these days of troubled economies, compared to the bright, shining market in fine jewels, if Geneva auctions are any indication. Monday was a big day, with Sotheby’s succeeding […]