MajorsSep 10, 2026
Lagos Founder Steven Lagos Steps Down as CEO Keith Rolfe, CFO and COO of Lagos, is now at the jewelry brand’s helm while Steven takes on the role of executive chairman.
WatchesMar 30, 2016
Pessimism of Swiss watchmakers climbs, report finds
Swiss watchmakers are the most pessimistic about the industry that they’ve been in the last four years, owing to the strength of the Swiss Franc and the increasing competition from smartwatches.
Zurich, Switzerland--The watch market has been struggling of late, and it appears the sentiment now is strongly felt by Swiss watchmakers.
According to Deloitte’s Swiss Watch Industry Study, 41 percent of Swiss watch executives surveyed are pessimistic about the economic outlook for the industry, compared to only 14 percent who are optimistic. This is the worst result since the firm started the study in 2012.
Deloitte reported that 69 percent of Swiss watch executives see the strong Swiss franc as a significant issue for their businesses. After the Swiss National Bank removed the currency cap on the euro in January, the Swiss franc appreciated in value by 15 percent to 20 percent.
Concern also comes from a weaker foreign demand, especially in Hong Kong and China, with more than half of executives in the Swiss watch industry indicating that they think it could pose a challenge for the business over the next year.
Additionally, 25 percent of watch executives in the survey now consider smartwatches to be a competitive threat, compared with only 11 percent in 2014. More than one in three of respondents also said that they became more aware of the challenges coming from this product category after Apple released its own version of a smartwatch, the Apple Watch.
RELATED CONTENT: Hermes brings high fashion to Apple Watch
Still, Deloitte notes the smartwatch market is still young and there remains still a window of opportunity for Swiss watchmakers to develop their own offerings, with increasing evidence at this year’s Baselworld that more of the traditional Swiss watch brands targeted by smartwatches (generally priced below $1,500) are starting to react as well.
“The willingness and ability of Swiss brands to offer smartwatches at Swiss-quality standards and with long battery life could potentially pay off as a successful competitive strategy,” the report said.
Not to mention the proportion of consumers intending to buy a smartwatch is greater than the amount of people who plan on buying a classical wristwatch, meaning that smartwatches have the potential to be highly successful
and likely will dominate the low-end segment for watches, giving Swiss watch brands even more reason to find their own alternatives as well as increase focus on luxury watches, Deloitte said.
The report also said that watch companies are reacting to the challenges of the market with a number of measures, the biggest of which is cutting costs. One-half of respondents said they were implementing this measure to counteract the value of the Swiss franc, though Deloitte notes that this is a strategy that not all brands can adopt, particularly the lower-priced market segment.
Another top strategy for many of these brands is the introduction of new products. Sixty five percent of the watch executives surveyed consider this their top priority, up 10 percentage points from last year.
An increasing number also will give more emphasis to online sales channels within the next 12 months. Thirty-eight percent of respondents said that they consider e-commerce on their own site as the most important sales channel in the future.
Fewer, however, will be giving most of their marketing efforts to authorized dealers in the next year, and there also has been a slight reduction in the emphasis on opening new mono-brand or flagship stores.
Marketing campaigns will continue to focus on digital media, with social media leading as the most important channel this year.
More on Watches
The Latest
CrimeSep 10, 2026
FBI Offers $50K Reward for ‘Most Wanted’ Fugitive in $1M Jewelry HeistAlberto Perez-Elias is one of four men charged in the armed robbery of a Cape Coral, Florida, jewelry store and remains at large.
AuctionsSep 10, 2026
Massive Matched Pair of Paraíba Tourmalines Head to Sotheby’sThe “Kat Florence Luminas” will be offered together as one lot and could fetch up to $637,000.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
SourcingSep 10, 2026
AGTA Announces 4 Newly Elected DirectorsFour directors were elected to the AGTA board and will serve three-year terms beginning in February.
Weekly QuizSep 10, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsSep 10, 2026
Former Sotheby’s, Christie’s Exec Appointed CEO of Julien’s Auctions Ken Citron joins the celebrity memorabilia-focused auction house ahead of its first week-long series of events in Abu Dhabi.
FinancialsSep 09, 2026
Signet Jewelers to ‘Double Down’ on Blue Nile Amid Strong SalesThe jewelry retailer said it sees opportunity at higher price points, particularly in natural diamonds for bridal and fashion.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
IndependentsSep 09, 2026
Sarah Leonard Fine Jewelers Closes After Nearly 80 YearsThe Los Angeles-based, family-owned jeweler was founded by Lenny and Sunny Friedman in 1946.
SourcingSep 09, 2026
Fura Gems Notes ‘Remarkable’ Interest in Larger Rubies at Latest SaleThe auction, held in Bangkok, was 96 percent sold by lot, with nearly 411,000 carats of Mozambiquan rubies sold.
MajorsSep 09, 2026
Stuller’s Latest Catalog Includes Its New Demi-Fine CollectionFine Jewelry 2027-2028 has more than 900 new styles, including silver, gold-filled, gold-plated sterling silver, and vermeil jewelry.
Policies & IssuesSep 09, 2026
8 Key Changes the FTC Made to the Jewelry Guides: A Refresher Learn more about the new terms for lab-grown diamonds and composite gemstones, and the major changes in store for precious metals jewelry.
IndependentsSep 08, 2026
Ricky Bromberg, Longtime President of Bromberg & Co., Dies at 67 Bromberg is remembered as a Southern gentleman who always wore a suit and tie and treated others with kindness.
TrendsSep 08, 2026
Amanda’s Style File: A Hot Take on September’s Birthstone With high durability and a wide range of colors to choose from, sapphires may be the ultimate birthstone, Gizzi claims.
ColumnistsSep 08, 2026
Peter Smith: Humor Is No Laughing MatterLaughter is often considered a distraction in the workplace, but it has benefits for both staff and management, Peter Smith writes.
MajorsSep 08, 2026
Former Tiffany & Co. Exec Joins Exemplar Luxury GroupGretchen Koback Pursel is the new chief people officer at the company formerly known as Saks Global.
IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
AuctionsSep 02, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s “significant” collection of cat jewelry and other objects is going up for auction.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
