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Swiss watch exports jumped 25 percent in February as US buyers kept driving a post-pandemic rebound in demand for pricey timepieces.
The US remained the top market with a 15 percent share while China accounted for almost 12 percent of the nearly 2 billion francs ($2.1 billion) in total monthly exports, the Federation of the Swiss Watch Industry said Thursday.
American consumers who saved cash during pandemic lockdowns have been the engine of the market recovery. The US overtook China as the largest destination for Swiss timepieces in 2021 for the first year in more than a decade.
Exports to the US climbed 33 percent in February.
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Shipments of watches costing more than 3,000 francs continued to drive the bulk of sales, increasing in value by 28 percent. Watches priced at between 500 francs and 3,000 francs rose 16 percent, while those worth less than 500 francs rose by 4.8 percent, the trade group said.
By Andy Hoffman
Learn more:
The State of Fashion: Watches and Jewellery Report — Bringing the Sparkle Back
The Business of Fashion and McKinsey & Company are pleased to present our State of Fashion Watches and Jewellery Report. Download the full report here.
