01·1 min read
The Summary
F.P. Journe and Chanel just bought a fallen Swiss giant for $66.5 million, and what they are really buying is not a factory.
One watch platform turned away a third of the watches people tried to sell through it, including a genuine $140,000 Patek that turned out to be stolen.
Patek's "Italy only" watch will not stay Italy only, according to the man who runs Patek.
Louis Vuitton's owner sold fewer handbags and more watches and jewellery, and that is not a coincidence.
