As prices have tumbled from February highs, shares in listed luxury companies have all the charm of an excellent investment opportunity, with the added appeal of a pandemic-proof balance sheet.
Articles on the subject: Economy
The Swiss watch industry continued to record strong growth during the first half of 2012 while maintaining a brisk pace. The excellent results for 2011 have been surpassed with ease and the sector appears to be showing no signs of weakness. The total value of exports by Swiss watch manufacturers amounted to 10.1 billion francs in six months. The ten billion franc mark has therefore been exceeded before the middle of the year, which is a first. This result represents an increase of 16.4% compared to 2011.
Maradona, tango and a passion for beautiful watches. Argentina is a land of contrasts and connoisseurs of exceptional timepieces. However, increased import duties aimed at boosting national industry mean that Cristina Fernández de Kirchner's government is trying the patience of international brands.
As the historic cradle of watchmaking, where Swiss timepieces need no introduction, Switzerland is a strategically important market for many Fine Watch brands.
Bernard Droux, President of the Geneva Financial Center Foundation, delivered a comparative analysis of Switzerland's banking and watchmaking industries.
The excellent result for May 2011 was comfortably exceeded. Swiss watch exports increased by 16.2% last May to a level of 1.9 billion francs. This growth is in phase with the level at the beginning of the year and seems not to have suffered from a very unfavourable base effect, contrary to April. Over the first five months, watch exports were up 15.2% to 8.2 billion francs.
An initiative of the magazine GMT, the Geneva Watch Tour invites visitors to discover Geneva’s watch industry through its shops and historic monuments.