Swatch Group: China’s Luxury Watch Market To Grow Around 10% in 2013

by swisscham in Hospitality, Retail, Tourism

Coming off a tougher 2012, during which many wealthy Chinese consumers either took a wait-and-see approach to luxury purchases close to home, or did their luxury shopping overseas, Swiss watchmakers expect renewed – albeit modest – growth in 2013. Heartened by signs that demand returned at the end of the year, particularly in Hong Kong, where sales of jewelry, watches and other valuables increased nearly 14% in November, leading luxury groups are expected to continue their Greater China expansion efforts this year, with Richemont recently partnering with Chow Tai Fook to take its Baume & Mercier brand to a wider audience.

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