“Let’s face the reality,” one executive said, “this is a trend in the luxury business. And we are part of that business.”
In 2022, the value of Swiss watch exports reached 24.8 billion Swiss francs, an all-time high.
But the volume of those exports — the number of watches shipped — was just 15.8 million. While that was more than the 13.8 million timepieces produced during the lockdowns of 2020, it was far fewer than the 28.1 million exported as recently as 2015, according to the Federation of the Swiss Watch Industry.
What has all that meant for consumers? The math is simple: There are fewer Swiss watches for sale. And the
→ Continue reading at The New York Times