Swiss Watches Rebound In October, China Remains Sluggish

Following a record two-year decline in Swiss watch exports in September, a rebound in European sales in October made up for the weakness in Hong Kong and China. The Swiss Watch Association said that Swiss watch sales in October reached 2.1 billion Swiss francs, an average exchange rate of 2.3 billion US dollars during the period, an increase of 13.2% compared with the same period last year. According to the Swiss Watch Federation, sales of Swiss watches in the first 10 months of this year increased by 13.7%.
Compared with October 2011, total Swiss watch exports fell by 3.4%, of which platinum watch sales fell by 11.5%. However, the total value of watch sales rose by 13.1%, of which more than 3,000 Swiss francs, or about $ 3215, watch sales rose by 17.1%, to some extent making up for the total decline.
Swiss watch exports to China fell by 12.3%, while Hong Kong sales rose by 2.7%. Sales in the United States increased by 1.1%, and Japan jumped by 31.6%.
Europe also continued to show a rebound, with Italy and Germany achieving 23% and 28.4% growth, respectively, despite French sales falling by 2.8%.