Swiss watch exports had their strongest first half in six years as demand for high-end timepieces rose in Asia and the US.
Shipments rose 11% to 10.5 billion francs ($10.5bn), the Federation of the Swiss Watch Industry said in a statement on Thursday. That’s also the first time they breached the 10 billion-franc mark since 2015.
The trade group forecast a smaller increase for the full year because the industry faces a more difficult comparison base in the second half. Swatch chief executive officer Nick Hayek said on Wednesday that double-digit sales growth is possible this year for the largest Swiss watchmaker.
Other highlights include:
• First-half shipments to Hong Kong jumped 30% and rose 13% to China; up 9.1% to US.
• Watches priced at less than CHF200 saw downturn, particularly in volume terms.
• Strongest growth by price point recorded by watches wholesaling for CHF500 to CHF3,000, up 17% Swiss watch exports in June rose 12%.
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