On reducing the export of Swiss watches to China

January 18, 2019

A large number of connoisseurs of luxury Swiss watches live in China. According to 

statistics, it is in the Middle Kingdom that almost 40% of the accessories made in 

the well-known company Richemont Group and 50% of the products of the watch 

holding Swatch Group are sold. However, according to forecasts of industry experts 

in China, in the near 2019, a decrease in demand for Swiss watches is expected.

The reason for the fall in demand for elite watches is called the Middle Kingdom's 

trade war with the United States. There is information that in the near future there 

will be a devaluation of China's currency, which will reduce the ability of citizens to 

purchase elite accessories.

It is worth noting that a large number of luxury watches were exported to China in 

2018. The volume of exported accessories grew by 6%. However, René Weber, who 

previously worked in the analytical department of the Vontobel Bank of Switzerland, 

believes that the export of elite watches will increase by only 4% this year.

Jean-Daniel Pache, being the President of the Swiss watch industry, said that there 

are only 3 risks: the trade war between China and China, the situation on the currency 

markets and the situation on the world economy market. Due to these risks, the 

demand for accessories will fall.