Swiss Confederation watch industry has recorded the thirteenth consecutive monthly decline in exports hours. In July, exports totaled 1.6 billion Swiss francs, which is 14.2% less than the year before.
On Tuesday, the Swiss Confederation of the watch industry has published monthly report, from which it follows that the Swiss watch exports fell again. The volume of exports in July amounted to 1.6 billion Swiss francs, ie a drop compared to the same period last year amounted to 14,2%.
According to the report, the Confederation, the most serious was decline in exports in key industry areas – Hong Kong (down 32.7%) and the United States (14.7%). A pleasant exception was Britain: cheapened after the referendum on withdrawal from the EU provoked pound shipment growth of 13.4% to 110.2 million Swiss francs. Back in July, the Financial Times CEO of the largest manufacturer of Swiss watches Swatch Group Nicolas Hayek said that Brexit made “a fantastic result in the UK”, mentioning in particular that the London store included in the Swatch Group brand Breguet after the referendum recorded sales growth 40%. However, according to experts, the changes in sales volumes associated with exchange rate fluctuations, most likely will not have a lasting effect.
The confederation is particularly marked the fourth consecutive drop in exports of watches made of precious metals and almost identical – 16% drop in the opposite price segments (watch for less than $ 200 and watch for more than $ 3000)
As usual, the fall of a number of reasons -. too high rate the Swiss franc, the reduction in demand in key markets and general economic uncertainty.
Shares of Swatch Group (brand Swatch, Omega, Breguet, Harry Winston, and others.) fell in Zurich 0 74% of the securities of another major manufacturer of Swiss watches – Richemont (. brand Cartier, Montblanc, Piaget, etc.) fell by 0.51%, while in Paris the securities LVMH (brand Zenith, Bvlgari, Hublot Chaumet) rose by 0, 67%.
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