Swiss watch exports slow in January

While foreign sales of Swiss luxury timepieces continued to grow in January, sales of more affordable models declined. The United States and China remained buoyant.

After three years of record performance following the forced pause caused by the pandemic, the pace of Swiss watch exports slowed in January, according to the Swiss Watchmaking Federation.

Still up 3.1% in value to 1.9 billion Swiss francs ($2.1 billion), and +2.9% in volume (with 32,000 watches exported), the situation is by no means catastrophic. In fact, the situation had been anticipated by the Federation, which had announced in its 2023 report that it expected a slight “slowdown in 2024”, linked to the “gloomy economic context” and the “particularly high level of the franc“, which was likely to “weigh on results, particularly in the entry- and mid-range segments”.

Luxury watches still buoyant

In fact, Swiss watch exports were buoyed by sales (+4.3%) of luxury timepieces with factory gate prices in excess of 3,000 Swiss francs ($3,419).

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Featured Photo: © Rolex

Picture of Sophie Michentef
Sophie Michentef
Sophie Michentef has worked for more than 30 years in the professional press. For fifteen years, she managed the French and international editorial staff of the Journal du Textile. She now puts her press, textile, fashion, and luxury expertise at the service of newspapers, professional organizations, and companies.

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