Swiss watch exports to China grow

Swiss watch exports to China grew 24.1 per cent in the year to October, ahead of the 10.3 per cent growth to Hong Kong and 11.1 per cent to the US.

According to date from the Federation of the Swiss Watch Industry, global exports rose by 7.5 per cent during the period.

Exports for the month of October hit close to CHF2 billion (US$2.006 billion), a recovery from a temporary drop during September. Demand for timepieces valued at more than CHF3000 last month increased by 10 per cent, compared to falling demand for cheaper watches.

Sixty-two per cent of Swiss watch brands are now offering direct-to-consumer e-commerce services. The service is increasingly becoming a major element of brand strategy in the industry.

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