Core Viewpoint - Swatch's recent apology regarding the portrayal of an Asian model has been perceived as insincere and disrespectful towards the Chinese market, reflecting a broader issue of cultural insensitivity among luxury brands [1][3][10]. Group 1: Apology Statement - The apology issued by Swatch was brief and lacked depth, with different wording in English and Chinese versions, raising questions about the company's intentions [3][5]. - The statement failed to clarify the nature of the "misunderstanding" or "offense," nor did it address accountability or corrective measures [3][10]. - The crisis management approach taken by Swatch appears to follow a simplistic template, indicating a lack of genuine engagement with the issue [3][10]. Group 2: Cultural Insensitivity - The incident is part of a pattern where luxury brands exhibit cultural arrogance, often offending East Asian consumers while profiting from these markets [10]. - Historical biases and Orientalist views among Western elites contribute to the perpetuation of stereotypes, such as the "slant-eyed" representation of Asians [10]. - The media's negative portrayal of Asians has reinforced these stereotypes, influencing commercial decisions within multinational fashion brands [10]. Group 3: Market Dependency - Swatch, which owns brands like Omega, Longines, and Tissot, derives nearly one-third of its global revenue from the Chinese market, despite recent declines [11]. - Many Swiss watches are now produced and assembled in China, indicating a significant reliance on Chinese manufacturing capabilities [11]. - The potential withdrawal of such brands from the Chinese market may not significantly impact the local economy, as the brands have already capitalized on their presence [11].

Core Viewpoint - Swatch's recent apology regarding the portrayal of an Asian male model has been deemed insincere and provocative, reflecting a lack of respect for the Chinese market and consumers [1][3]. Group 1: Apology Statement - The apology issued by Swatch was brief and lacked depth, with different wording in English and Chinese, raising questions about the company's intentions [3][5]. - The statement failed to clarify the nature of the "misunderstanding" or "offense," nor did it address accountability or corrective measures [3][9]. Group 2: Cultural Insensitivity - The incident is part of a broader pattern of cultural insensitivity among luxury brands, which often profit from East Asian markets while simultaneously displaying contempt for these consumers [9][10]. - Historical biases and Orientalist views among Western elites contribute to the perpetuation of stereotypes, such as the "slanted eyes" representation, which is rooted in colonial attitudes [9]. Group 3: Market Dependency - Swatch derives nearly one-third of its global revenue from the Chinese market, indicating a significant dependency despite recent declines [10]. - Many Swiss watches are now produced and assembled in China, highlighting the economic interdependence between the brand and the Chinese market [10].

Group 1 - Luo Yonghao claimed that Dong Yuhui's annual income reached 2-3 billion yuan after starting his own venture, which was denied by the company Hui Tongxing [3] - Dong Yuhui ranked first in the 2024 China Internet Anchor Net Income Ranking with an annual income of 2.8541 billion yuan [3] - The chairman of Ying Shi Innovation apologized for a viral video showing him throwing cash to employees during an internal event [4] Group 2 - The company Ying Shi Innovation announced that its drone brand "Ying Ling Antigravity" will begin product testing on August 14, 2025 [4] - The founder of Dangdang, Li Qichun, held a wedding attended by notable figures such as Yu Minhong and Zhang Chaoyang [4] Group 3 - The daughter of renowned artist Fan Zeng reported that her father went missing after being taken by Xu Meng, with valuable collections removed from their residence [5] - Fan Zeng's family denied rumors of his disappearance, and his stepson shared photos of him in France to counter the claims [5] Group 4 - Swatch issued an apology for a controversial advertisement featuring a model making a "squinting" gesture, which was criticized as racially insensitive [6] - In July, non-bank financial institution deposits surged by 2.14 trillion yuan, the highest level recorded for that month since 2015 [6] Group 5 - The Tmall flagship store of Wahaha was renamed, with the actual controller now being Zong Fuli [7] - The store's operations have shifted to Hangzhou Hengyi E-commerce Co., which is controlled by Zong Fuli through another company [7] Group 6 - Zheng Qinwen was awarded the "Touching China Annual Person" title for her performance in the women's tennis singles at the Paris Olympics [8] - She became the first Chinese player to win an Olympic gold medal in tennis singles [8] Group 7 - The hourly wage for part-time workers at Pang Donglai is set between 30-40 yuan, with a maximum of 24 hours of work per week [8] - The wage structure considers various factors including labor intensity and working conditions [8] Group 8 - South Korea is facing a shortage of fresh cream due to high temperatures causing significant livestock deaths [9] - The price of dairy products, including eggs and chicken, has risen sharply as a result of the ongoing heatwave [9] Group 9 - META's market capitalization surpassed 2 trillion dollars, making it the sixth company in the U.S. to reach this milestone [12] - The stock price of META has increased by 36% this year [12] Group 10 - OpenAI is seeking to sell approximately 6 billion dollars in equity at a valuation of 500 billion dollars [15] - The sale is still in early negotiation stages, following a previous funding round that valued OpenAI at 300 billion dollars [15] Group 11 - The launch of the OmniHand 2025 series by Zhiyuan Robotics includes two product lines aimed at interactive services and professional tasks [15] - The introductory price for the OmniHand is set at 14,800 yuan [15] Group 12 - The first humanoid robot to win a 100-meter race was developed by Beijing's humanoid robot innovation center, completing the race in 21.50 seconds [16] - This event took place during the 2025 World Humanoid Robot Sports Games [16] Group 13 - The silver economy in China is projected to reach 19.1 trillion yuan by 2035, with nearly 470,000 existing elderly care-related enterprises [18] - The growth of the silver economy is driven by trends in health consumption among the elderly [18]

Core Viewpoint - Swatch has faced significant backlash in the Chinese market due to a controversial advertisement featuring a model with "slanty eyes," leading to a public apology and the removal of related content [1][4][6]. Group 1: Company Performance - Swatch Group reported a sales decline of 11.2% year-on-year, with sales amounting to 3.059 billion Swiss francs for the first half of 2025 [7]. - The net profit plummeted by 88%, dropping from 147 million Swiss francs to 17 million Swiss francs, resulting in a net profit margin of 0.6%, down from 4.3% in the previous year [7]. - The Chinese market, historically a strong contributor, generated 2.63 billion Swiss francs in net sales in 2023, accounting for 33.3% of the group's total sales [8]. Group 2: Market Dynamics - Despite a 30% year-on-year sales decline in 2024, the Chinese market still represented 27% of Swatch Group's total sales [8]. - The CEO of Swatch Group highlighted opportunities arising from competitors like Seiko reducing their market presence in China, suggesting potential growth for Swatch [8]. - The company had previously anticipated a recovery in the Chinese market in the second half of the year, driven by improvements in e-commerce sales and inventory levels, although the recent advertising controversy may impact brand perception [8].

Core Viewpoint - Swatch has acknowledged the controversy surrounding the portrayal of a model in its ESSENTIALS Collection advertising and has taken immediate action to remove all related materials globally, expressing sincere apologies for any distress caused [1][3][6]. Group 1: Company Response - The company has noted the recent concerns regarding the model's portrayal in the Swatch ESSENTIALS Collection images [4]. - Swatch has treated the matter with utmost importance and has removed all related materials worldwide [5]. - The company has expressed deep apologies for any offense or distress caused by the advertising [6].

Group 1 - The Swiss watch brand Swatch has issued an apology regarding a controversy over a promotional image that was perceived as racially insensitive [1][3] - The company acknowledged the public's concern over the model's pose in the advertisement, which was interpreted as a "slant-eyed" expression, leading to strong protests from Chinese consumers [3] - In response to the backlash, Swatch has taken immediate action by removing all related materials globally and expressed regret for any offense caused [1][3]

Core Viewpoint - Swatch has issued an apology regarding the recent attention on the model images in the Swatch ESSENTIALS series, emphasizing the company's commitment to addressing the issue and removing all related materials globally [1]. Group 1 - The company acknowledged the concerns raised about the model images in the Swatch ESSENTIALS series [1]. - Swatch has taken immediate action by deleting all related materials worldwide [1]. - The company expressed deep apologies for any offense and distress caused by the situation [1].