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The Luxury Watches Downturn, Explained

The Swiss watch sector’s slide appears to be more pronounced than the wider luxury slowdown, but industry insiders and analysts urge perspective.
The Swiss watch sector’s slide appears to be more pronounced than the wider luxury slowdown, but industry insiders and analysts urge perspective.
The Swiss watch sector’s slide appears to be more pronounced than the wider luxury slowdown, but industry insiders and analysts urge perspective. (Getty)
By
BoF PROFESSIONAL

The value of Swiss watch exports fell by 16.1 percent in March compared to the same month last year, according to a report released mid-April, just days after Watches & Wonders, by the Federation of the Swiss Watch Industry. The sharp decline, which was equivalent to 380 million Swiss francs and capped a first quarter decrease of 6.3 percent, follows months of retailer reports that consumer demand had cooled.

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Further Reading

Can Luxury Watch Brands Grow in 2024?

Higher-than-expected export figures fuelled hopes that the industry can avoid a downturn. At LVMH’s Watch Week gathering Miami, the chief executives of Bulgari, TAG Heuer, and Hublot and Zenith spoke to The Business of Fashion about adapting their strategies for an uncertain market.

About the author
Robin Swithinbank

Robin Swithinbank is a contributing writer at The Business of Fashion. Swithinbank is a London based journalist, editor, and speaker who specialises in luxury watches.

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