Fashion

Swiss watch exports suffer first monthly decline in two years

Shipments fell by 0.9% last month to 2.2 billion Swiss francs ($2.5 billion) with China driving the downturn, the Federation of the Swiss Watch Industry said Tuesday. Exports to China, the second biggest market behind the US, fell 16.6% following a surge last year. Singapore, another key market, suffered a 7.9% drop compared to a strong rise a year ago.คำพูดจาก เว็บสล็อตใหม่ล่

The decline, driven by lower exports to the two key Asian markets, suggests booming demand for expensive Swiss timepieces may be starting to cool after climbing to a record above 24 billion francs in 2022คำพูดจาก เว็บปั่นสล็อต. Brands from Omega to Patek Philippe and Rolex have raised prices to offset higher input costs, boosting sales and profits amid the upswing.The last time Swiss watch exports suffered a monthly drop was in December 2021.The federation said the slight downturn “will not have a significant impact on the general trend or forecasts for 2023,” suggesting the industry could still hit a record again this year.Exports declined across all price segments with the exception of watches priced above 3,000 francs, which gained 2.2% by value. Shipments to the US, which overtook China as the biggest market in 2021, increased by 5.2% in July, indicating demand is still growing in the largest market for Swiss timepieces.  

Related Posts

Apparel firms to lose up to 20% of brand value post Covid-19

According to business valuation consultancy Brand Finance, which assessed the impact of Covid-19 based on the effect of the outbreak on enterprise value, the apparel sector will be…

China retaliates for US tariffs; markets skid

The speed with which the trade struggle between Washington and Beijing is ratcheting up – the Chinese government took less than 11 hours to respond with its own…

Fashion sales dropped 20%+ last month, despite online surge – BDO

On Friday, the BDO High Street Sales Tracker for June showed non-food physical retail suffered a 14.4% decrease in sales last month, although this was the best result…

British luxury producers cheer US tariff suspension

Luxury trade body Walpole, which represents more than 270 UK-based companies, joined in welcoming the joint announcement from the new US administration and the UK government. Helen Brocklebank, Walpole…

Harding-Rolls to lead new Eco-Age Advisory Division

The company, whose clients include Golden Goose, UGG, Harrods and Natural Diamond Council, among others, said its new division “will guide businesses through the evolving landscape of emerging…