Swiss Watch Exports Follow Slowdown Trend in Luxury Sector -- Market Talk

Dow Jones02-20

1107 GMT - Exports of Swiss watches in January grew on year, but showed continued normalization trends, in line with the overall picture of the luxury industry, Bernstein analysts write in a research note. Total exports grew 3.1% on year to CHF1.9 billion, according to data from the Federation of the Swiss Watch Industry. "Swiss watch exports began the year with a modest yet positive growth," they say. The key question for 2024 seems to be how much slower demand will be, the analysts say, adding that the luxury industry should bottom out this year. Bernstein rates Richemont and Swatch as outperform. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

February 20, 2024 06:07 ET (11:07 GMT)

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The key question for 2024 seems to be how much slower demand will be, the analysts say, adding that the luxury industry should bottom out this year. Bernstein rates Richemont and Swatch as outperform. 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