The announcement coincided with its full-year results, with growth driven by its jewelry brands.
US imports of Swiss watches down 5 percent
Statistics for the months of January through July show that the U.S. demand for Swiss watches is down slightly year-to-date.
Bienne, Switzerland--Statistics for the months of January through July show that the U.S. demand for Swiss watches is down slightly year-to-date.
According to figures recently released by The Federation of the Swiss Watch Industry (FH), U.S. imports of Swiss wristwatches in volume terms declined 5 percent between January and July when compared with the same period last year. In value terms, exports rose 1 percent.
Including Canada, demand for Swiss watches was down 6 percent in volume terms and essentially flat in value terms. The American market as a whole, comprised of both North and South America, currently accounts for 14 percent of total global demand for Swiss watches.
Worldwide, FH statistics show a 6 percent decline in volume terms and a 2 percent increase in value terms for Swiss watch exports in the January-July period. Demand in volume terms fell 15 percent in Europe while increasing 15 percent in Africa and 2 percent in Asia, the world’s largest market for the timepieces.
Looking at the month of July, FH data shows that Swiss watch exports grew 4 percent in volume terms and 2 percent in value terms year-over-year. Demand in the U.S. market was essentially flat, rising less than 1 percent year-over-year in the period.
There was a “sharp” slowdown in demand for gold watches, with exports down 11 percent year-over-year.
However, exports of watches created in other metals increased. Demand for platinum (up 17 percent year-over-year), gold-plated (up 101 percent) and steel watches (up 4 percent) rose, helping to buoy exports as a whole.
Price-wise, watches priced between 200 and 500 Swiss francs (about $217 to $541) were most in demand, with exports in the segment rising 21 percent in value terms and 25 percent in volume terms.
Headquartered in Bienne, the FH is a private, nonprofit trade association that represents the interests of watchmakers in Switzerland.
The Latest
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.