By  on January 28, 2020

PARIS — Swiss watch exports inched up 2.4 percent in 2019, lifted by demand for high-end pieces and despite a steep drop in business in Hong Kong, the industry’s most important market, the Federation of the Swiss Watch Industry said on Tuesday.

“The general situation will remain complex and require watch brands to adapt accordingly,” cautioned the federation, noting a challenging environment for the sector due to geopolitical uncertainty, increased competition, a sharp rise in the pre-owned market and fast-changing consumption habits, among other reasons. The increasing popularity of connected watches — the Apple Watch in particular — has posed a challenge to traditional watchmakers.

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