INTERNATIONAL. Swiss watch exports recorded their strongest growth in over five years in January 2018, buoyed by a strong demand for high-end timepieces in Asia.
Shipments rose +12.6% year-on-year to CHF1.6 billion (US$1.7 billion), according to the Federation of the Swiss Watch Industry. The CHF500 (US$535) to CHF3,000 (US$3,200) price range led growth (+20%).
Hong Kong posted its highest monthly increase for over five years (+21.3%) while exports to China jumped +44.3%. Shipments to Japan grew +12.9%.
The value of all the main groups of materials increased. Steel and bimetal watches made the biggest contribution. Total volumes were +2.5% higher, boosted by timepieces in steel and the other metals category.
After declining for over two years, watches costing less than CHF200 (US$214) (export price) continued to lose ground in January.
The five most popular Swiss luxury watch brands in China, according to Jing Daily*, are:
- Patek Philippe
*Footnote: Jing Daily is a partner in an information-sharing alliance with The Moodie Davitt Report.