Watches of Switzerland says UK sales continue to be hit by tourist tax

2 weeks ago

'Shocking development': New York Times reporter reveals what is driving huge sales numbers

Consumers set a massive record in holiday sales as people finally began to feel the pressure of inflation ease, New York Times business and policy reporter Lauren Hirsch told MSNBC's Jessica Layton on Thursday. This follows a number of other reports from retailers showing healthy sales — and not just the traditionally solid online stores, they noted, but, in a …

Hirsch Layton Shopping Season

1 month ago

Retailers point to solid U.S. sales over holiday weekend

Raw Story

U.S. consumers turned out in force in stores and online over the Thanksgiving weekend, a key stretch in the holiday shopping season, a leading retailer group said Tuesday. A total of 197 million shoppers, about 59 percent of the U.S. population, made purchases during a five-day stretch that includes Black Friday and Cyber Monday, according to figures from the National …

Nrf Holiday Weekend

1 month, 1 week ago

Luxury sales soar as affluent Indians splurge

Live Mint

Affluent Indians are spending more on high-end luxury, driving sales of the world’s top labels despite slowing consumption in the country and a slump in China, one of the biggest markets for fashion giants. The three companies generated sales equivalent to nearly two-thirds of entire India business of the Swiss watch industry, which sold timepieces worth ₹2,074.8 crore between January …

India Luxury Sales Crore Mint Indians Brands Growth

2 months ago

Primark earnings jump higher despite weather hit to summer ranges

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Budget retailer Primark has seen …

Weather Europe Sales Primark

2 months, 2 weeks ago

‘Amazon tax’ to save Britain’s high streets under consideration by Reeves

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chancellor Rachel Reeves is considering …

Retail Tax Reeves Temu Business Rates High Streets Online Business

4 months ago

Trip To New Zealand To Become Expensive As Country Levys Hefty Taxes, Increases Tourist Visa Prices

News 18

Visiting New Zealand’s lakes, mountains, bike trails, and wineries will now be more costly as the country is set to impose hefty taxes on its international tourists. “International tourism also comes with costs to local communities, including additional pressure on regional infrastructure and higher upkeep and maintenance costs across our conservation estate,” Matt Doocey, New Zealand’s Minister for Hospitality and …

Tourism New Zealand Zealand Ivl Tourist Visa

5 months, 2 weeks ago

Luxury watchmakers pivot to India amid slump in Chinese market

Live Mint

New Delhi: For some years now, international watch companies have courted India as a focus market, even though volumes were much lower than in many parts of the world. The shift away from China—the largest consumer of luxury in the world—has impacted Swatch, Omega's parent, which reported lower half-yearly sales from a year ago. The decline, the company said, was …

India Luxury China Market Brand Million Watch

6 months ago

Switzerland aims to avoid excessive tourism by highlighting the off seasons, promoting offbeat destinations

Hindustan Times

Switzerland's tourism agency said Thursday that it was trying to even out the flow of holidaymakers throughout the year to protect the Alpine country from the risks of excessive tourism. Switzerland Tourism said it would seek to highlight the off seasons and promote destinations off the beaten track. Switzerland tries protect the country from the risks of excessive tourism There …

Tourism Switzerland Agency Promote Destinations Excessive Tourism Switzerland Tourism Nydegger

7 months ago

London Fashion Week bosses - who also represent Mulberry, Marks & Spencer and Kurt Geiger - joins chorus of voices calling on political parties to scrap tourist tax

Daily Mail

The organiser of London Fashion Week is the latest name to urge both political parties to pledge to scrap the tourist tax. The British Fashion Council, which represents a slew of top UK fashion designers, has said it is crucial that the next government restores tax-free shopping for international visitors. Caroline Rush, of the British Fashion Council, which represents a …

Shopping Europe London Tax Fashion Retail International Visitors Caroline Rush

7 months, 1 week ago

We want Virgin Atlantic back, says Gatwick boss

The Telegraph

Rishi Sunak’s tourist tax has left Gatwick at a “competitive disadvantage” to its rivals abroad, the airport’s chief executive has said. Stewart Wingate, who has been at the helm of Britain’s second-largest airport since 2009, said the removal of tax-free shopping has hampered Gatwick’s ability to attract wealthy passengers and long-haul airlines from overseas. He told The Telegraph that the …

Gatwick

7 months, 2 weeks ago

Swiss Military Consumer Goods Q4 Results Live : profit rise by 42.75% YOY

Live Mint

Swiss Military Consumer Goods Q4 Results Live : Swiss Military Consumer Goods declared their Q4 results on 22 May, 2024. Swiss Military Consumer Goods has delivered -1.64% return in the last 1 week, 31.28% return in the last 6 months, and 43.39% YTD return. Currently, the Swiss Military Consumer Goods has a market cap of ₹543.78 Cr and 52wk high/low …

Consumer Military Swiss Goods Increased Swiss Military Consumer Goods

7 months, 4 weeks ago

Thousands of tourists ditch UK to shop in other parts of Europe with no VAT fees as retailers urge Government to scrap hated tourist tax

Daily Mail

Thousands of tourists who previously shopped tax-free in Britain are now heading to Paris, Milan and Madrid instead, a study shows. Thousands of tourists who previously shopped tax-free in Britain are now heading to Paris and Madrid instead, a study shows Chancellor of the Exchequer Jeremy Hunt visits a Morrisons store in London on April 29, 2024 Tourists are also …

Tax Shop Tourist Tourists

10 months ago

M&S leads calls from UK firms to scrap the tourist tax at this week's budget

Daily Mail

Business leaders are making a last-ditch bid to persuade Jeremy Hunt to scrap the tourist tax in his Budget this week. Warning that government policy means running a business in the UK ‘is like running up a downwards escalator with a rucksack on your back’, M&S chief executive Stuart Machin said the tourist tax ‘must be reversed’. We must do …

Business London Tax Paris Tourist Tourists Vat

10 months ago

Scrap the tourist tax to boost retail and hospitality, says ALEX BRUMMER

Daily Mail

By now we should all have had our fill of possible tax changes to be outlined in tomorrow’s Spring Budget. After the latest series of forecasts from the Office for Budget Responsibility, Jeremy Hunt is scrambling to find the least offensive revenue raising measures and public spending savings to deliver without breaching fiscal rules. Budget challenge: Jeremy Hunt is scrambling …

Tax Machin

10 months ago

From Paris to Milan, our rivals are cashing in as the UK flounders

Daily Mail

Hot on the heels of London Fashion Week, our rivals in Paris are wrapping up their own designer showcase. Britain's fashion industry – and London and the UK more broadly – is operating at a stark competitive disadvantage It is also underlined by repeated warnings from retailers that the Government’s decision to abolish tax-free shopping on goods for international visitors …

Fashion London Spending Paris Visitors Tourist Our Rivals

10 months, 2 weeks ago

ING predicts that the ''malaise on the shopping street'' is not yet over

NL Times

The "malaise on the shopping street" has not yet ended, despite consumers' increasing desire to make purchases, according to ING economist Katinka Jongkind. Retail sales were down three percent last year, and they will probably drop another 0.5 percent this year, Jongkind expected. "Supermarkets will lose over 1.5 billion euros in turnover due to the tobacco sales ban that comes …

Sales Jongkind Shopping Street

10 months, 3 weeks ago

London Fashion Week chiefs pile pressure on Jeremy Hunt to scrap the hated tourist tax in the next Budget

Daily Mail

London Fashion Week organisers have called on the Chancellor to scrap the controversial 'tourist tax' in next month's Budget, as the most important event in the multi-billion-pound industry's calendar gets under way. Pictured: Caroline Rush In 2020, then Chancellor Rishi Sunak abolished rules which allowed tourists from outside the EU to claim back VAT on purchases – instantly making them …

Government Fashion Tax Budget British London Fashion Week Tourist

11 months, 3 weeks ago

Mulberry sees festive sales drop amid luxury spending slowdown

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Handbag maker Mulberry has revealed …

Mulberry Retail Sales Free Shopping

1 year ago

Americans ramped up spending during the holidays despite some financial anxiety and higher costs

Associated Press

NEW YORK — Holiday sales rose this year and spending remained resilient during the shopping season even with Americans wrestling with higher prices in some areas and other financial worries, according to the latest measure. This year’s sales are more in line with what is typical during the holiday season, however, after a surge in spending last year during the …

Holiday Sales Spending Americans Holiday Sales

1 year ago

Americans ramped up spending during the holidays despite financial anxiety, higher costs

LA Times

Holiday sales rose in 2023 even as shoppers deal with still stubborn inflation in some areas as well as other financial worries, according to one measure. Holiday sales rose this year and spending remained resilient during the shopping season even with Americans wrestling with higher prices in some areas and other financial worries, according to one closely watched measure. This …

Sales Spending Americans Higher Prices Holiday Sales Holidays Despite Costs Holiday

1 year, 1 month ago

Chancellor reviewing decision to axe duty-free shopping for tourists

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “When we changed policy on this particular issue a …

National Conservative Fund Obr Hunt Chancellor Mr Hunt

1 year, 2 months ago

UK urged to bring back tax-free shopping to encourage more visitors

China Daily

Buses travel down the Oxford Street in London, Britain, April 9, 2021. The United Kingdom is losing its competitive edge as a prime shopping destination for Chinese tourists because of its removal of the tourist tax refund policy, which previously incentivized Chinese visitors to shop there. The downward trend was evident during China's recent Golden Week holiday, as more Chinese …

Shopping Europe London Italy China Tax Tax Refunds

1 year, 8 months ago

Why demand for luxury timepieces is starting to slow

Live Mint

The leaders of some of the biggest Swiss watch brands like Patek Philippe and Oris, said the demand for luxury timepieces is starting to slow from an unprecedented industry boom during the pandemic, according to a Bloomberg report. “I see in the past two months, the market is a little bit slower than before,” said Thierry Stern, the chair and …

Patek Philippe Bloomberg Swiss Oris

1 year, 11 months ago

UK performance keeps Currys on track to meet reduced profit target

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Christmas proved a tale of …

Sales Currys

2 years, 2 months ago

M&S and Primark owner in investor spotlight over consumer spending

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Two of the UK’s biggest …

Investor Primark

2 years, 6 months ago

Mulberry boss calls for Government to reinstate tax-free shopping for tourists

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The boss of handbag maker …

London Free Mulberry

2 years, 9 months ago

The Watch World Has Gone Mad (in a Good Way)

Wired

Geneva’s Watches & Wonders fair, essentially the CES of the watch world, brings together almost 40 of the industry's biggest brands, including Rolex, Patek Philippe, Tudor, and IWC, alongside a sprinkling of smaller, independent marques, to all reveal at once their major launches for the year. A World-Record Watch Thinner Than a Nickel Photograph: Bulgari Bulgari Octo Finissimo Ultra Over …

World Watch Diamonds Mad Diamond Tag Heuer Octo Finissimo

3 years, 2 months ago

Online clothing sales to overtake high street stores next year

The Telegraph

Online sales of clothing will overtake in-store shopping next year in a watershed moment for high street retailers. Digital purchases jumped by £2.7bn, or almost a fifth, in the pandemic, even as total apparel transactions plunged by £9.6bn, according to a new report from Retail Economics and Eversheds Sutherland. If nothing is done to counter the new pattern of sales, …

Street Clothing

3 years, 4 months ago

Swiss luxury watches and the watch auction boom

Live Mint

This column, since it began in April this year, has always been from the point-of-view of a watch enthusiast, namely, me. But there’s comfort for collectors in buying from these brands because buyers and sellers will value their watches as a recognized currency,” Geoffrey Hess, a New York-based watch specialist told NYT. Vintage watches as collectibles has been a craze …

China Market Hong Kong Vintage Auction Patek Philippe Watches

3 years, 8 months ago

UK tourism bodies beg government to help inbound visitor industry

The Independent

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Leading tourism bodies in the UK have called on the government for urgent action to help …

Tourism International Cities International Visitors Visitor Help Inbound

3 years, 9 months ago

Ireland and Netherlands set to suffer under new Biden tax plan

The Telegraph

Ireland, the Netherlands and Switzerland are set to be the big losers under the Biden administration’s plans to link tax revenue from businesses to local sales. The US has reportedly proposed a clampdown on companies using certain countries to avoid paying higher tax as part of its plans for a huge global shake-up. It is part of the Biden administration’s …

Netherlands Tax Biden Ireland

4 years ago

British tourists ‘fled’ Swiss ski resort quarantine

CNN

CNN — British tourists fled the Swiss ski resort of Verbier “clandestinely” under cover of darkness rather than submit to a new quarantine imposed on UK visitors, a local official said on Monday. On December 21, the Swiss Federal Council imposed an entry ban and a retroactive 10-day quarantine period on all travelers from the UK and South Africa – …

Quarantine Switzerland Swiss Verbier Sandoz British Tourists

4 years, 3 months ago

Tax-free airport sales to end in January

The Independent

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK government is set to end tax-free sales at airports, ports and Eurostar stations from …

Travel Tax End Visitors Overseas Vat Overseas Visitors

4 years, 8 months ago

Online sales explode but markets for holidays and high fashion collapse

Dutch News

Online shopping has exploded since the corona crisis but shops selling holidays and luxury goods have seen a huge drop in revenue, new figures show. ‘Before coronavirus many online shops saw growth of 16% to 18%, now it’s 60% to 70%,’ Wijnand Jongen, director of Thuiswinkel.org, told broadcaster NOS. ‘Some online shops can’t source the stuff quickly enough,’ Jongen said. …

Online

5 years, 1 month ago

Luxury watch sells for a record $31 million

CNN

CNN — A watch by Swiss luxury brand Patek Philippe has sold for over $31 million, the highest price ever paid for a timepiece at auction. Video Ad Feedback The trends of 2019 for luxury watches 23:56 - Source: CNN Its sale on Saturday to a mystery buyer for 31 million Swiss francs, or $31.1 million, promotes it to a …

Luxury Million Watch

5 years, 2 months ago

Asos profits slump by 70 per cent as push to expand in US and Europe takes its toll

The Independent

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Ms Gulliver contrasted the performance of Asos with rival …

Cent Asos

Watches of Switzerland says UK sales continue to be hit by tourist tax

History of this topic

Watches of Switzerland confident of sales boost amid recovery in luxury market

UK ‘Tourist Tax’ sends tourists flocking to Paris, Milan and Madrid for tax-free shopping

Watches of Switzerland buoyed by growing list of luxury buyers

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