Brands are keeping silent as to a possible shortage of components from China, the main supplier of parts to the Swiss watch industry.
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After a less celebratory mood than usual for the 2020 Lunar New Year, we look at how watch brands performed on social media and the ones that came out on top.
The outbreak of coronavirus could weigh heavily on watch brands' bottom line, given that the traditional Lunar New Year spending spree didn't happen. Asia, excluding the Middle East, accounts for 44% of Swiss watch exports, suggesting a chaotic year ahead.
With protesters more determined than ever after four months of unrest, Hong Kong is struggling to maintain its status as a world capital of luxury. Economic recession in the special administrative region spells bad news for watch brands as shipments to this main export market have fallen by 6% since the start of the year.
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.
Vacheron Constantin enriches its Métiers d’Art The legend of the Chinese zodiac with the sign of the rat. Symbolizing a strong vitality and intelligence, it will take over from the pig at the Chinese New Year on January 20th 2020.
When Abraham-Louis Breguet patented his greatest ever invention on June 26, 1801, he could never have imagined that more than 200 years later, his tourbillon would be the complication most in demand among a group of affluent buyers, thousands of miles away in China.
The now traditional Bain & Company study, in collaboration with Fondazione Altagamma, forecasts global growth in the luxury market of 4% to 6% this year, to reach between €271 and 276 billion.