Swiss made watches are riding the recession well and have enjoyed an 18% growth compared to October 2009 according to the latest figures released from the Federation of the Swiss Watch Industry.
Performance in October was equivalent to the average for previous months and watch exports recorded reached a value of approximately US$1.5 billion.
The value of sales of watches in all materials also rose in October. In terms of the number of pieces sold, steel watches proved the most popular of metals and saw a gain of 200,000 units on October 2009. Meanwhile the “other materials” category recorded a steep increase of 31.6% representing sales of 683,000 watches. Since the beginning of 2010, watch companies have exported 20.7 million watches -3.5 million more than in 2009.
Watches priced between $200 and $500 per unit have proven to be particularly strong sellers in October. They advanced in sales by just under 40% in terms both of value and in the number of pieces.
The key markets for the Swiss watch industry also achieved better than average growth in October. Reflecting the buoyant economy of the region, Hong Kong has continued to achieve a sustained rate of growth. Performance in Japan has remained consistent while performance in the United States has fluctuated since the beginning of the year, but was good in October. The most attractive market in Europe for Swiss watchmakers has proven to be France, and the steady and sustained advance in China has continued apace, with annual growth stabilising at strong levels.
Swiss made
Watches, clocks and alarm clocks manufactured in Switzerland bear the designation ‘Swiss made” (or its abbreviation ‘Swiss’) as well as the logo of the producer or distributor. This label (“place of origin” in legal terms) enjoys a solid reputation throughout the world. “Swiss made” embodies a quality and tradition that has been forged over many years. It includes the technical quality of watches (accuracy, reliability, water-resistance and shock-resistance), as well as their aesthetic quality (elegance and originality of design). It covers both traditional manufacturing and new technologies (micro-electronics).
