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.
ZÜRICH, Switzerland — Swiss watch exports rose 13.8 percent in April to 1.76 billion Swiss francs ($1.77 billion), powered by a boom in the crucial Hong Kong market, trade data showed on Tuesday.
The news is a boon for Swiss watchmakers such as Swatch Group and Richemont.
The Federation of the Swiss Watch Industry (FH) noted that exports rebounded after a slack March. Cumulative watch industry exports totalled 6.7 billion francs in the first four months of the year, an increase of 11 percent.
In April, watch exports to Hong Kong swelled 43.4 percent, the highest in the past six years, it said.
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"After some hesitation, the United States also seems to be confirming the return to positive territory with an increase of 12.8 percent against April 2017," FH said.
Exports to China increased 11.0 percent and to Japan by 9.1 percent. In Europe, Germany was up 12.8 percent while exports to the United Kingdom fell 14.7 percent, it said, noting the situation there had deteriorated sharply in the past three months.
By: Michael Shields; Editor: Mark Potter.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.