The Battle Over the Future of Swatch: Luxury or Fun?
When American fund manager Steven Wood set his sights on the storied Swiss watchmaker Swatch UHR 0.26%increase; green up pointing triangle Group, he tried a suitably stylish opening gambit.
He sent Chief Executive Nick Hayek cigars; a favorite book, 'The Luxury Strategy' by Jean-Noël Kapferer and Vincent Bastien; and a handwritten note laying out opportunities he saw for Swatch's luxury brands to recapture market share.
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