The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
ZURICH, Switzerland — Swiss watch exports had their strongest first half in six years, as demand for high-end timepieces rose in Asia and the U.S.
Shipments rose 11 percent to 10.5 billion francs ($10.5 billion), the Federation of the Swiss Watch Industry said in a statement Thursday. That’s also the first time they breached the 10 billion-franc mark since 2015.
The trade group forecast a smaller increase for the full year because the industry faces a more difficult comparison base in the second half. Swatch Group AG Chief Executive Officer Nick Hayek said Wednesday that double-digit sales growth is possible this year for the largest Swiss watchmaker.
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By Corinne Gretler; editors: Eric Pfanner, Thomas Mulier and John J. Edwards III.
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