Demand for Luxury Watches Expected to Further Normalize -- Market Talk

Dow Jones03-19

1122 GMT - Demand for luxury timepieces could continue to normalize after an impressive performance over the past two to three years, Bernstein analysts write in a research note. "The situation seems to be a gradual soft landing," they say. In February, total exports of Swiss watches declined 3.8% on year to CHF2.15 billion. "The investment scenario is getting more complicated," Bernstein says, adding that concerns about moderating luxury demand are still present. However, a solid end to 2023 of some European luxury companies and reassuring comments about the first quarter have pushed back fears of a market contraction this year, they say. Bernstein rates both Richemont and Swatch as outperform. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

March 19, 2024 07:24 ET (11:24 GMT)

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