PARIS — Swiss watch exports rebounded in October as strength in Europe helped compensate for continued softness in the key markets of China and Hong Kong, the Federation of the Swiss Watch Industry said.
Foreign sales of Swiss watches in the month totaled 2.1 billion Swiss francs, or $2.3 billion at average exchange for the period, up 13.2 percent compared with the same period last year, it said. This followed a drop of 1.5 percent in September, revised from 2.7 percent originally, the first decrease in more than two years.
The federation said Swiss watch sales were up 13.7 percent in the first 10 months of the year.
The volume of exported wristwatches fell by 3.4 percent relation to October 2011, with an 11.5 percent fall in sales of platinum watches. However, wristwatch sales were up 13.1 percent in value terms, helped by a 17.1 percent jump in timepieces costing more than 3,000 francs, or $3,215, which helped compensated for a drop in sales of less expensive watches.
Swiss watch exports to China fell by 12.3 percent, while Hong Kong posted a 2.7 percent increase. Sales in the United States rose 1.1 percent, while Japan registered a 31.6 percent jump.
Europe also continued to show resistance, with Italy posting a 23 percent increase and Germany up 28.4 percent, although France saw sales fall by 2.8 percent.
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
Stay up to do date with breaking news and trending stories with WWD’s “The Essentialist.” Our newsletter delivers the top news in fashion right to your inbox. Want more info? Link in bio. #wwdfashion (📷: @kukukuba)
"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.