Home News In print this week

Adding The Hour Glass as luxury watch sales recover

Jeffrey Tan
Jeffrey Tan10/16/2017 08:00 AM GMT+08  • 6 min read
Adding The Hour Glass as luxury watch sales recover
(Oct 16): The improvement in the luxury watch industry this year appears set to continue. From January to August, the total export value of Swiss watches rose 1.2% y-o-y to CHF12.6 billion ($17.6 billion), according to the Federation of the Swiss Watch In
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

(Oct 16): The improvement in the luxury watch industry this year appears set to continue. From January to August, the total export value of Swiss watches rose 1.2% y-o-y to CHF12.6 billion ($17.6 billion), according to the Federation of the Swiss Watch Industry FH. This was driven by higher sales in the majority of markets around the world.

Hong Kong, the world’s top destination for Swiss watch exports, recorded a 2.9% growth y-o-y. Singapore, which is among the top 10 markets, saw smaller growth of 0.1%. China registered the fastest growth of 19.4%. Exports to the UK increased 11.8%. FH says the overall growth was attributable entirely to watches with export prices of over CHF3,000.

This positive set of data has started to fuel optimism in the industry. A Deloitte survey of 60 watch executives, conducted from May to July, found that 52% are optimistic about the outlook for the industry for the next 12 months, compared with only 2% last year. They expect volume to grow across all price segments.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.