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American Exchange Group acquires watchmaker E. Gluck Corporation

Accessories and manufacturing firm American Exchange Group has acquired the assets of respected watchmaker E. Gluck Corporation for an undisclosed amount. The acquisition will form a new company, E. Gluck Holdings LLC, which aims to operate as “the premier and largest wholesale fashion watch and jewellery company in the industry,” explains...

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Hit by strong franc, Swatch profits tick lower

Swatch on Wednesday posted a 21-percent-drop in its annual net profit, as the world's biggest watch group was slammed by a strong Swiss franc and a struggling timepiece sector. Last year, the Swiss watchmaker saw its net profit plummet to 1.1 billion Swiss francs (1.08 billion dollars, 990 million euros), dropping by more than a fifth from 2014,...