Swiss Watch Exports to China Recover

by swisscham in Business

Swiss watch exports to China rose in December, data showed on February 6, adding to signs a difficult spell for luxury goods makers in an important market may be coming to an end after Swatch Group’s upbeat statements on February 5. Swiss watchmakers sold fewer watches in China last year after a government crackdown on gift-giving to officials hit demand for expensive timepieces. Continued weakness in the Chinese market is one of the main reasons why analysts expect luxury goods sales growth to slow in 2014, despite strong demand from the United States and emerging market tourists hunting for bargains in Europe. Recently, however, signs are mounting that demand for watches in China may be picking up again.

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