Brought to you by Investec Switzerland. The number of watches Switzerland exports is on track to reach the lowest level since 1984, when digital timepieces were in vogue and Swatch Group AG had just been formed in reaction to low-cost competition. Three decades later, difficult times are back: 11-month data is due Tuesday after the […]
Swiss watch exports have biggest monthly drop in seven years
Brought to you by Investec Switzerland. Swiss watch exports plunged 16 percent in October, the biggest monthly drop in seven years, as demand weakened in almost every major market for Rolex and Omega timepieces. Shipments fell to 1.68 billion francs ($1.7 billion), the Federation of the Swiss Watch Industry said in a statement Tuesday. The […]
Swiss watch exports fall for fourteenth straight month
Brought to you by Investec Switzerland. Swiss watch exports fell in August as demand weakened from Japan to the U.S., extending the industry’s slump to fourteen months. Shipments dropped 8.8 percent to 1.4 billion francs ($1.4 billion), the Federation of the Swiss Watch Industry said in a statement Tuesday. The slowdown has spread from Asia […]
Swiss watch exports post biggest quarterly drop since 2009
Brought to you by Investec Switzerland. Swiss watch exports posted the biggest quarterly drop since 2009 as the industry faces declining demand across all its main markets. Shipments fell 8.9 percent in the first quarter, adjusted for working days, according to data from Switzerland’s customs office. Exports declined 16 percent in March to 1.5 billion francs ($1.5 […]
Swiss watch exports to Hong Kong continue to decline but rise elsewhere
Brought to you by Investec Switzerland. Swiss watch exports fell for an eighth consecutive month as shipments to Hong Kong extended a one-year rut caused by rich Chinese traveling to cheaper locations to buy expensive timepieces. Shipments slid 3.3 percent to 1.65 billion Swiss francs ($1.7 billion) in February, or by 7.9 percent adjusted for the […]
Swiss watch exports drop further in January
Brought to you by Investec Switzerland. Swiss watch exports slid for the seventh consecutive month as plummeting stocks and slowing economies damped demand for luxury timepieces in their main markets. The two biggest destinations for Swiss watch exports — Hong Kong and the U.S. — were almost exclusively responsible for the global downturn, the Federation […]
Terrorism and falling stock markets hit Swiss watch exports
Brought to you by Investec Switzerland. Swiss watch exports dropped 3.8 percent in December, led by a plunge in shipments to Hong Kong and ending 2015 with the first annual drop in six years. For the year, shipments slipped 3.3 percent to 21.5 billion Swiss francs ($21.2 billion), the Swiss customs office said in a statement Tuesday. […]
Biggest slump in Swiss watch shipments in 6 years
Brought to you by Investec Switzerland. Swiss watch exports had their biggest decline in six years in October, led by a 39 percent slump in shipments to Hong Kong, the industry’s largest market. Shipments declined 12 percent to 2 billion Swiss francs ($2 billion), the Swiss customs office said in a statement Thursday. Adjusted for […]