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US investor Wood presents new proposals to overhaul Swatch board

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US investor Wood presents new proposals to overhaul Swatch board


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Reuters

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November 24, 2025

U.S. investor Steven Wood renewed his campaign to overhaul the board of Swatch Group, publishing six proposals to amend the Swiss watchmaker’s corporate governance, his firm GreenWood Investors said on Monday.

Reuters

The proposals include allowing so-called bearer shareholders to elect three representatives to the board, said GreenWood, which says it holds about 0.5% of Swatch’s share capital. The bearer shareholders hold a majority of the firm’s share capital, but not of voting rights.

Wood has been pressing Swatch to focus more on its luxury brands such as Breguet and Blancpain in an attempt to turn around the fortunes of the Swiss company, whose shares have roughly halved in value since early 2023.

Unlike with earlier plans, GreenWood will not call an extraordinary meeting but seek a vote at Swatch’s next annual general meeting.
In May, Wood failed in a bid to secure a seat on the company’s board as a bearer shareholder representative, meeting resistance from the Hayek family, which controls over 44% of voting rights and a smaller chunk of the share capital.

Known for its plastic watches and luxury brands including Omega, Swatch acknowledges bearer shareholders’ right to representation but disputes how they should be chosen.

Wood argues shareholders should elect their own as rival firm Richemont allows.

Asked about Wood’s proposals, a Swatch spokesperson said the company had received a letter from GreenWood.

“In it, GreenWood Investors informs us they will provide evidence that GreenWood meets the legal requirements for placing motions on the agenda of the next (AGM),” the spokesperson said. “So far we have not received any such evidence.”

© Thomson Reuters 2025 All rights reserved.



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Fashion

The new economics of fashion: Trust, longevity and price discipline

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The new economics of fashion: Trust, longevity and price discipline




Fashion demand in 2026 remains intact but more selective, with consumers spending cautiously and prioritising value, durability and versatility.
Intentional purchasing and promotion sensitivity are reshaping pricing dynamics and margin structures.
Polarised consumer behaviour is pushing brands to rebuild trust, justify full price and align sustainability with longevity.



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US brand Calvin Klein unveils Spring 2026 denim with Jung Kook

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US brand Calvin Klein unveils Spring 2026 denim with Jung Kook



Calvin Klein Inc., which is part of PVH Corp. [NYSE:PVH], announces the launch of its Spring 2026 denim campaign starring global brand ambassador Jung Kook of renowned boy band BTS.

Directed and shot by Mert Alas, the new chapter sharpens the focus on denim as the ultimate expression of personal style through icon Jung Kook’s distinctive and influential point of view as he lives in the moment.

Calvin Klein, owned by PVH Corp., has unveiled its Spring 2026 denim campaign fronted by BTS icon Jung Kook.
Directed and photographed by Mert Alas, the cinematic film fuses music, movement and city energy, highlighting 90s Straight, Baggy and reworked Trucker silhouettes.
A special appearance by Rosie Perez amplifies the brand’s signature visual storytelling.

The campaign unfolds across a series of immersive worlds, unified and guided by Jung Kook’s style, attitude and way of living. The high-impact film fuses fashion and entertainment, moving to an instantly recognizable soundtrack and brought to life through the artist’s signature choreography and commanding presence. The interplay of music and movement – complete with a cameo from New York City legend Rosie Perez – captures the impact synonymous with Calvin Klein’s iconic visual storytelling.

Calvin Klein jeans are at the center of the wardrobe with hero silhouettes leading the narrative: the effortless attitude of the 90s Straight; the relaxed and nostalgic proportions of the Baggy; and new interpretations of the iconic Trucker jacket — all reimagined with elevated washes and designed for versatility. Casual logo tees and oversized bombers complete the looks, reinforcing denim as both uniform and statement.

“I love Calvin Klein jeans because they’re designed to be lived in,” said Jung Kook. “The looks I wore for this campaign nod to ‘90s style while feeling completely modern. It was exciting to bring together my love of music, dance and fashion against the energy of the city.”

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)



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China targets 4.5 to 5% GDP growth for 2026

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China targets 4.5 to 5% GDP growth for 2026



China is aiming for a GDP growth rate of at least 4.5 to 5 per cent in 2026, according to a government work report submitted on March 05, 2026 to the national legislature for deliberation.

Premier Li Qiang, who delivered the report at the opening of the fourth session of the 14th National People’s Congress in Beijing, said the growth target is “well aligned with the country’s long-range objectives through the year 2035 and is broadly in line with the long-term growth potential of China’s economy, with favorable conditions in place for achieving this target.”

China has set a GDP growth target of 4.5–5 per cent for 2026, alongside goals to stabilise employment, manage inflation, maintain grain output and cut emissions.
The plan also preserves flexibility for structural reforms under the 15th Five-Year Plan, aiming to balance steady economic expansion with long-term, high-quality and sustainable development.

Main development targets for 2026 also include a surveyed urban unemployment rate of around 5.5 per cent, creation of over 12 million new urban jobs, a rise in the consumer price index of around 2 per cent, personal income growth in step with economic growth, a basic equilibrium in the balance of payments, grain output of around 700 million tonnes, and a drop of around 3.8 per cent in carbon dioxide emissions per unit of GDP.

Qiang said the targets took into account the need to leave room for structural adjustments, risk prevention and reform in the opening year of the 15th Five-Year Plan (2026–30) period, to lay a solid foundation for improved performance in the coming years. Government at local level should, taking into account their own conditions, make solid efforts to deliver positive outcomes, he added.

Analysts said the 2026 target reflects a pragmatic approach in recognising structural and cyclical challenges facing the world’s second-largest economy, while pursuing reasonable growth in line with high-quality development.

Fibre2Fashion News Desk (JP)



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