Switzerland Buys Back Record Amount of Unsold Watches: Chart

As the rich purchase fewer Swiss watches, producers have been buying back unsold inventory from retailers, and that’s showing up in export data. Almost 1.3 billion francs ($1.3 billion) worth of timepieces were sent back to the country in the first 10 months of the year as the industry slump deepens. That’s more than three times as much as the 398 million francs reimported in 2002, according to customs data.

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