AuctionsApr 04, 2025
25-Carat Burmese Sapphire Brooch Sells for $101KA pink topaz Belle Époque pendant-brooch and a Victorian Egyptian Revival choker were also highlights at a recent Anderson & Garland sale.
WatchesFeb 07, 2016
Swiss Watch Exports Drop in 2015
Recently released statistics show that Swiss watch exports declined in 2015, the first slump for the sector in six years.
Biel/Bienne, Switzerland--Recently released statistics show that Swiss watch exports declined in 2015, the first slump for the sector since the global financial crisis put a damper on exports in 2009.
The Federation of the Swiss Watch Industry (FH) said Tuesday that the total global value of watch exports in 2015 was approximately $21.1 billion, a 3 percent decrease when compared with 2014.
Development of the Hong Kong market “weighed heavily in the overall balance,” FH said. Exports deteriorated steadily throughout the year, falling from a positive 3 percent in the first quarter to a negative 7 percent in the fourth.
Factors contributing to the decline, according to FH, were the overvaluation of the Swiss franc, market development in Hong Kong, the economic slowdown and political decisions in China, tension in the Middle East, the low level of the Russian ruble, and terrorism.
FH said these issues will continue to influence results for the Swiss watch industry into the first part of 2016 and, consequently, “watch exports are likely at best to achieve the same value this year as in 2015.”
When it came to product in 2015, Swiss watches generated a value of approximately $19.9 billion, a nearly 4 percent decline. In volume terms the downturn was more moderate at about 2 percent with a total of 28.1 million timepieces exported, a number more similar to 2013 levels. In total, almost 500,000 fewer watches left Switzerland in 2015.
Mechanical watches generated 80 percent of export sales, a value decrease of 2 percent. Exports of quartz timepiece declined almost 10 percent.
FH said all main price segments saw value contract in 2015, though results were not uniform: the value of watches costing less than $200 (export price) dropped about 1 percent, and even recorded a slight increase in volume terms at 1.3 percent. The $200 to $500 category was hardest hit, seeing a value downturn of about 9 percent.
When it came to watches costing between $500 and $3,000, value declined by 4 percent. Watches exporting for more than $3,000 saw a 3 percent drop.
When it came to main markets, Swiss watch exports to the U.S. dropped by almost 1 percent, the result of a steady growth until August when a sharp decline led to a year that ended flat.
Hong Kong saw significant decline at 23 percent, followed by the United Arab Emirates (7 percent),
Editors' Picks
Sponsored by
China (5 percent), Taiwan (3 percent) and Japan (2 percent).
Markets that absorbed more Swiss watches in 2015 were the United Kingdom (up 19 percent), Austria (15 percent), Saudi Arabia (11 percent) and France (9 percent).
“Asia was the leading market for Swiss watchmakers and absorbed exactly half of exports by value,” FH said. “It recorded a sharp decline. Europe, accounting for one-third of sales, registered a healthy increase of 6 percent compared to 2014. Growth on the American continent suffered a reverse from September onward and ended the year on a negative note.”
More on Watches
The Latest
SourcingApr 04, 2025
Mason-Kay Jade to Hold Inaugural International Jade SummitThe event, which will co-locate with the Monterey Bay Jade Festival, will bring education sessions focused on jade to the United States.
CollectionsApr 04, 2025
Piece of the Week: Heather B. Moore’s ‘Lily of the Valley’ CharmThe charm is a celebration of springtime as April showers bring May flowers with the piece’s cluster of diamond raindrops.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
SurveysApr 03, 2025
2025 Retail Sales to Grow More Slowly Amid ‘Uncertainty,’ Says NRFThe National Retail Federation expects retail sales growth to return to pre-pandemic levels as consumers continue to face inflation.
Weekly QuizApr 03, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsApr 03, 2025
Tallulah Willis Imbues Antique Engagement Ring With MagicThe 4-carat, old mine brilliant-cut diamond engagement ring was co-designed by Willis and New York City-based brand Karina Noel.
SourcingApr 03, 2025
Canadian Mine Produces 158-Carat Yellow Diamond Rio Tinto unearthed the diamond at its Diavik mine in Canada’s Northwest Territories.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
CollectionsApr 03, 2025
Buccellati to Open Immersive Exhibition in MilanThe multisensory experience, open April 8-13, will feature the brand’s silver creations among dream-like scenes of natural landscapes.
Policies & IssuesApr 03, 2025
Jewelers of America to Hold Webinar on TariffsThe virtual event will take place April 7 at 3 p.m.
CollectionsApr 02, 2025
Bea Bongiasca’s ‘Tarallo’ Collection Expansion Is a ZooThe pieces in “Animali Tarallo” portray animals from stingrays to elephants through portraits and interpretations of their patterns.
MajorsApr 02, 2025
Neiman Marcus’ Dallas Flagship Will Remain Open, For NowParent company Saks Global said the iconic location will be open through the holiday season as it decides what to do with the space.
SourcingApr 02, 2025
Winston’s Collection of Natural Color Diamonds Now on Display in D.C. Ronald Winston, son of Harry Winston, donated the diamonds to the Smithsonian National Museum of Natural History in Washington, D.C.
Events & AwardsApr 02, 2025
Punchmark to Host Client WorkshopThe educational event will take place in Charlotte, North Carolina, this May.
IndependentsApr 01, 2025
Bergman Jewelers in Omaha Closing After 137 YearsThe independent jeweler first opened its doors in 1888.
MajorsApr 01, 2025
QVC Group to Cut 900 Jobs in the U.S.The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in FloridaThe debut event will take place in Miami’s Coconut Grove neighborhood this fall.
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor ShortageThe roundtable will take place May 17 ahead of the trade show’s welcome dinner.
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry CollectionThe “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.
TrendsMar 31, 2025
Amanda’s Style File: Dripping in DiamondsDiamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With AcquisitionThe Utah-based company known for making wedding bands has acquired Doubloon Golf.
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
SourcingMar 28, 2025
19th-Century Jade Book Now Available in EnglishLotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ OutlookThe Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.
