Swiss Watch CEOs From Patek to Oris See Slowdown After Boom
- Comments may indicate early signs of a watch sector slowdown
- Demand for luxury watches surged to records during lockdowns
The heads of some of the biggest Swiss watch brands, from Patek Philippe to Oris, said demand for luxury timepieces is starting to slow from an unprecedented industry boom during the pandemic.
“I see in the past two months, the market is a little bit slower than before,” said Thierry Stern, the chairman and controlling shareholder of Patek Philippe SA, the family-owned Geneva-based brand.