Watches
Swiss Watch Exports Struggle as Luxury Slowdown Persists
- Shipments rose 3.1% by value and 2.9% in volume in January
- Watchmakers under pressure from slowing demand, strong franc
A Rolex SA Oyster Perpetual Datejust watch in the window of a store in Paris.
Photographer: Nathan Laine/BloombergSwiss watch exports rose modestly in January as growth slowed and weak demand for luxury and mid-priced watches dragged on the sector.
Monthly exports increased 3.1% to 1.9 billion Swiss francs ($2.2 billion) by value, the Federation of the Swiss Watch Industry said Tuesday. Growth was as high as 11.8% in the first half of last year. The number of timepieces exported rose 2.9% to 1.2 million as shipments of the Swatch brand’s Blancpain and Omega collaborations drove demand at the low end.