Deloitte news and archive

Swiss watch industry should find time for India, says Deloitte

India and Mexico could become new drivers of growth for the Swiss watch industry, which has been clobbered by US tariffs and slumping demand in China, top audit firm Deloitte said Wednesday. The emblematic Swiss industry "is navigating one of the most complex periods in recent memory", the professional services giant said in the 11th Deloitte...

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Business

Deloitte: Despite import tariffs, 90 percent of investors remain active in fashion and luxury

According to Deloitte’s ‘Fashion & Luxury Private Equity and Investors Survey 2025’ report, 90 percent of investors remain active in the fashion and luxury sector. This is despite eight out of ten respondents expecting import tariffs to negatively impact the market. North America (35 percent), Europe (33 percent) and Asia (29 percent) are seen...

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Accompanying report helps navigate new GFA Fashion Impact Toolkit

A new Fashion Impact Toolkit, presented by the Global Fashion Agenda (GFA) and Deloitte at the Global Fashion Summit in June, wants to share a meaningful inventory of industry impacts for guidance on strategy assessment. But how to use it? And what are some of the key findings from the impact inventory? An accompanying report, published...

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Global Fashion Agenda and Deloitte launch new open-source Fashion Impact Toolkit

An new open-source and free to use toolkit has been developed by the Global Fashion Agenda (GFA) and Deloitte to share a meaningful inventory of industry impacts for guidance on strategy assessment. It keeps fashion sustainability teams in mind to help them understand, measure and leverage large amounts of data to drive positive change,...

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Pre-owned watch market normalises after the speculative boom

Zurich – The frenzied demand for pre-owned watches has subsided, but the market continues to organise itself and grow faster than that of new watches, according to a study published on Thursday by Deloitte. The pre-owned watch market had accelerated in the wake of the Covid-19 pandemic before experiencing a sharp reversal, but remains poised for...

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Deloitte under investigation for handling of Joules audit

The Financial Reporting Council (FRC) in the UK has begun an investigation into the audit conducted by Deloitte of the consolidated financial statements of Joules Group for the year ended May 30, 2021. The investigation, which will be conducted by the FRC’s Enforcement Division, was decided upon during a meeting of the organisation’s Conduct...

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Fashion |Technology

Deloitte helps brands deliver metaverse experiences

Global audit and advisory firm Deloitte has launched an immersive experience platform in partnership with technology provider Vatom. The two companies have created a tangible experience to enable brands (and other businesses) to build virtual spaces for their customers, partners and employees. In essence, they have made the Metaverse accessible....

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Fashion

Gen Z driving the second-hand luxury watch market

Swiss watches are in high demand these days, but sales of second-hand timepieces are also booming, driven by Generation Z buyers who want luxury goods but are also sustainability-minded. The global second-hand watch market is estimated at nearly 20 billion Swiss francs (21.7 billion dollars) and could reach 35 billion francs by 2030, according...

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Luxury's resilience: Top 100 luxury goods companies generated 250bn dollars in revenue in 2020

The world’s top 100 luxury goods companies generated revenues of 252 billion dollars in 2020, down from 281bn the previous year, but net profit margins of the top 81 companies was down only 5.1 percent. The data was released by Deloitte’s annual Global Powers of Luxury Goods 2021 report, which states the pandemic was the catalyst for change as...

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Retail

Deloitte forecasts two potential holiday scenarios

Deloitte has released its annual holiday retail forecast report. It is expected that holiday sales are likely to increase between 1 and 5 percent, and Deloitte's overall sales forecast between 1,147 and 1,152 billion dollars during the period of November-January. E-commerce sales are projected to grow from 25-35 percent year-on-year (YoY) during...

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LVMH tops Deloitte’s list of Top 100 luxury companies; future looks positive for the sector

LVMH came first on Deloitte’s annual list of the world’s largest luxury goods companies once more, followed by Estée Lauder and Richemont. Kering and Luxottica switched places, with the French conglomerate moving up to the fourth position while the Italian eyewear giant fell to the fifth. The report, titled Global Powers of Luxury Goods, covers...

Retail

Deloitte predicts 11 percent decreased online shoppers during back-to-school season

In the U.S. college students prefer to do their back-to-school shopping the old fashion way, that’s it in person. As a result, Deloitte predicts an 11 percent decrease in intended online shoppers for this season. According to Deloitte's 2018 Back To College Study, while last year about 80 percent of shoppers said they would use their...