Three months ago, Patek Philippe and Vacheron Constantin were two of the hottest searches on Weibo: not for their watches, but because of customers' attempts to avoid import duty.
Articles on the subject: Economy
Cvstos saw out 2014 in Moscow, in the company of Gérard Depardieu, for the official presentation of its "Proud to be Russian" watch. The brand hopes to sell between three and four hundred of this new model, which is reserved for the Russian market, over the next five months.
Illustrating a tighter situation on some markets, watch exports saw their value fall by 4.4% compared to November 2013. They attained a level of 2.1 billion francs. Part of the decline can be attributed to the number of working days, though this cannot conceal the less favourable environment in which the sector finds itself.
Even as Swiss watchmaking stands poised for another record year in 2014, with exports reaching CHF 22 billion, the mood is no longer quite so buoyant. Growth for the year is expected to be in the region of 3% versus 2% in 2013.
With new president Enrique Peña Nieto, Mexico has renewed faith thanks to an ambitious programme of reforms intended to establish the country as a foremost economic power. For the time being though, results – like watch sales – are playing hard to get.
October was a very good month for the Swiss watch industry. Exports attained their highest monthly level with a value of 2.3 billion francs. This represents an increase of 5.2% compared to October 2013. Since the start of the year, the sector has recorded growth of 3.1%, to 18.4 billion francs.
The 6th Forum de la Haute Horlogerie considered the future that awaits us, and how we should approach it if we are to go the distance. At the heart of discussions were the wrist-worn technologies to which we have become slaves.