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Swarovski to Cut a Third of Jobs at its Austrian Headquarters

The logo of Swarovski is seen outside a store in Vienna, Austria, June 21, 2016. (Reuters)
The logo of Swarovski is seen outside a store in Vienna, Austria, June 21, 2016. (Reuters)
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Swarovski to Cut a Third of Jobs at its Austrian Headquarters

The logo of Swarovski is seen outside a store in Vienna, Austria, June 21, 2016. (Reuters)
The logo of Swarovski is seen outside a store in Vienna, Austria, June 21, 2016. (Reuters)

Jewelery group Swarovski plans to cut a third of the 4,600 jobs at its Austrian headquarters as part of a restructuring program in response to tough competition and coronavirus related losses, news agency APA said on Tuesday.

Around 1,000 jobs will be cut this autumn and another 600 by 2022, APA said.

The decision was “painful but unavoidable,” the agency quoted Swarovski Crystal’s Chairman Robert Buchbauer as saying.

Revenues are expected to drop around 35% to below 2 billion euros (1.80 billion pounds) this year, he said.

Under the restructuring program, the family-owned group plans to merge under one roof its various businesses, which include jewelery, home accessories and the Swarovski Kristallwelten experience attractions at its headquarters in Watten in the Tyrol province, APA said.

Swarovski did not immediately reply to a Reuters request for comment.

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Fashion

At Hermes, Woven Leather and Quiet Confidence Set the Tone for Paris Menswear

A model wears a creation as part of the men's Hermes Spring-Summer 2026 collection, that was presented in Paris Saturday, June 28, 2025. (AP)
A model wears a creation as part of the men's Hermes Spring-Summer 2026 collection, that was presented in Paris Saturday, June 28, 2025. (AP)
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At Hermes, Woven Leather and Quiet Confidence Set the Tone for Paris Menswear

A model wears a creation as part of the men's Hermes Spring-Summer 2026 collection, that was presented in Paris Saturday, June 28, 2025. (AP)
A model wears a creation as part of the men's Hermes Spring-Summer 2026 collection, that was presented in Paris Saturday, June 28, 2025. (AP)

While much of Paris Fashion Week chased spectacle, Hermes chose a different path.

On Saturday, artistic director Véronique Nichanian unveiled a Summer 2026 men’s collection that spoke in a language of quiet strength, deep craft and calm luxury.

Models walked beneath soaring mirrors in sharply cut jackets, high-waisted woven leather trousers, and sleeveless tops — pieces that fused house tradition with a modern, easy sensuality.

Nichanian’s colors were cool and exact: coffee, slate, taupe and beige, each one a lesson in subtlety. There was no shouting here, only precision.

What made the collection powerful was its restraint. Where others go wide, Hermes goes narrow, offering tailored silhouettes and a sense of order when the rest of fashion is busy making noise. Fine leather, featherlight silks, and bandanas with a whisper of fringe reminded the crowd that true luxury is about touch, not flash.

Nichanian’s playful touches — zigzag motifs, the wink of an unbuttoned shirt, a glint of silver hardware — kept things human, not stiff. It was a masterclass in how to make classic codes feel new, even radical, simply by refusing to chase trends.

In a season marked by designer shake-ups and economic jitters, Hermes stood alone: confident, focused, and unwilling to compromise. As Nichanian took her bow to cheers, she sent a clear message — at Hermes, luxury is about the pleasure of the wearer, not the applause of the crowd.