PARIS — Swiss watch exports confirmed a strong rebound in the first quarter, with a rise of 32.8 percent in March compared with the same month last year to 1.2 billion Swiss francs, or $1.14 billion, the Federation of the Swiss Watch Industry said Thursday.
“The recovery is therefore clearly confirmed, with the first quarter showing an upturn of 16.6 percent and a return to levels recorded in 2007,” the federation stated.
Sales of timepieces priced at more than 500 francs, or $468, grew by more than 40 percent in value terms, signaling a return of consumer confidence following a sharp drop in luxury watch sales in 2009. Dollar figures are converted at average exchange rates for the period.
The top three markets showed a marked pickup, with sales in the U.S. up 56 percent versus March 2009, while Hong Kong sales jumped 67.7 percent and China saw a rise of 89.8 percent.
Switzerland exported 1.8 million wristwatches in March, with gold and steel timepieces leading the gains. In the first three months of the year, volumes rose by 900,000 units, or 19.8 percent, versus the same period last year.
“The most expensive segment has finally turned the corner and is returning to a more favorable position within the Swiss watch industry,” Dennis Weber, luxury goods analyst at Evolution Securities, said in a research note. “With its broader exposure to different price ranges, Swatch was probably best placed to benefit from the performance in recent months, where cheaper-end products have outperformed more expensive watches. This trend has been reversed in March and Richemont’s market leading portfolio is in our view best placed to benefit from this development,” he added.
Shares in Swatch Group closed down 0.3 percent at 325.50 Swiss francs, or $304.38, while Richemont shares closed down 0.4 percent at 39.96 Swiss francs, or $37.37.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)