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.
Exports to China increased by 75 percent in July, compared with the same month in 2019, according to the Federation of the Swiss Watch Industry.
Other Asian markets declined, with Hong Kong exports falling by a quarter compared with July 2019. European exports overall were close to flat in comparison to exports for the same period two years ago, but the US saw strong growth of close to 50 percent compared to the pre-pandemic period as domestic consumption rebounded strongly, the federation said.
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Brands Invest Big in China’s Booming Watch Market
Mainland China is now the number one export market for Swiss watches, but some luxury watchmakers risk becoming over-reliant on the region.
Doubts about the country’s post-pandemic recovery is making investors, and perhaps shoppers, nervous.
The brand known for its traditional and ornate Chinese aesthetic will be one of the first major C-beauty players to go global when it touches down in the US and Japan later this year.
To unleash the full potential of ‘China’s Silicon Valley’ luxury brands must invest more in the vibrant city at its core and better understand the local mindset.
Western brands shifting supply chains away from China hope to reduce disruptions caused by geopolitical tensions but ‘friendlier’ sourcing hubs aren’t always feasible.