, Columnist
The Swiss Watch Industry's Perfect Storm
A difficult market has caused Swiss watch sales to suffer -- but the industry is not helping itself enough, either.
They'll need it.
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Swiss watchmakers sailed into a perfect storm this year. The industry, which generates more than $20 billion in exports, was buffeted from all sides by circumstances largely beyond its control; but it's increasingly clear that the decline will continue unless the industry changes the way it designs and markets its products.
In January through June, the exports of Swiss watches dropped 11.9 percent in unit terms and 10.7 percent in value terms compared to the same period last year.