The demand for Swiss luxury watches has given the industry its best ever result. With growth of 10.9 percent year-on-year, sales in November rose to 2.4 billion Swiss francs (approximately 2.4 billion euros), contributing to an excellent year-to-date result. Total exports for the year to date amount to 22.8 billion francs, 11.9 percent more than in the previous year.
According to the Swiss Watch Industry Federation FH, the United States was the top importer of Swiss watches, with sales up 32.9 percent.
In comparison, exports to China (-11.5 percent) and Hong Kong (-8.9 percent) fell. Japan and Singapore recorded growth of 20.2 percent and 29.1 percent, respectively.
In Europe, growth was more average, with exports up 14.5 percent in Germany, 17.6 percent in the UK and 20.2 percent in Italy.
Luxury watches priced at more than 3,000 francs increased by 15.7 percent, as did watches in the mid-price segment below 200 francs (export price), which rose by 15.6 percent. A sharp drop in sales was recorded for watches in the middle price segment from 200 to 500 francs: the value of exports fell by 30.3 percent compared to 2021.
This translated and edited post previously appeared on FashionUnited.uk.