Chinese Slowdown Hits Swiss Watchmakers

by swisscham in Business

Last year, Swiss watchmakers cheered as exports of timepieces grew 10.9% to a record CHF 21.42 billion (USD 22.65 billion). Behind the rise: Buying in China, where watches are often given to government officials as gifts. But the Chinese growth engine appears to be losing steam. The prospect of a sharply slower Chinese market – and how it might affect the industry – has dominated chatter at the Baselworld watch show. “There is no reason to worry, it’s a slowdown, not a decline” said Jean-Claude Biver, chairman of Hublot. But many watchmakers think the industry has peaked, at least in the near term.

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Your Swiss Business Platform in China

SwissCham China has roughly 600 company members. Our Chamber maintains a strong relationship with the Embassy of Switzerland, Swiss Global Enterprise, Swissnex and Switzerland Tourism. As the representative of the Swiss companies established in China, our goal is to help you to increase your business and visibility, especially amongst the Sino-Swiss business community.

Become A Member

Sign Up For Our Newsletter

  • This field is for validation purposes and should be left unchanged.
October 27, 2020
Published By shine.cn in Engineering / Manufacturing
October 21, 2020
Published By globenewswire.com in Hospitality / Tourism / Retail
October 15, 2020
Published By givaudan.com in Bilateral Relations
October 9, 2020
Published By chinadaily.com.cn in Engineering / Manufacturing
October 6, 2020
Published By globenewswire.com in Engineering / Manufacturing