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Watches and jewellery: French industry weakened despite resilient demand

Watches and jewellery: French industry weakened despite resilient demand

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Francéclat, the Professional Committee for Economic Development serving the watch, jewellery, goldsmith and tableware sectors, has just published its annual report. Conclusion ? Inevitably low figures for the French watch and jewellery sector, but certainly not because of the lack of customers.

 

The Francéclat Observatory has analysed the 2020 figures for the watch and jewellery industry and described it as “a sector in shock but resilient”.

 

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“The picture is inevitably gloomier as far as 2020 is concerned. But it is not totally black, with an undeniable agility of a part of the industry, driven to export by the dynamism of the Chinese market mainly, and with the dynamism of sales on the French market at each exit from confinement, despite the absence of international tourists”. The committee stresses.

 

Sales of watches and jewellery fell by 14% in 2020 with a turnover of 4.8 billion euros.

 

The year before the pandemic, the sector had nevertheless known glorious years with, in particular, a 21% increase in sales in 2019. In 2020, a 5% drop hit French watch, clock and jewellery production with a turnover of 2.8 billion euros. 

 

More specifically, sales fell by 22% to 271 million euros for watches.

 

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