High-End Swiss Watches Keep Exports Afloat -- Market Talk

Dow Jones09-19

1323 GMT - Exports of high-end watches continue to perform well despite a general downward trend, Vontobel analyst Jean-Philippe Bertschy says in a research note. Total exports of watches amounted to 1.95 billion Swiss francs in August, up 6.9% on year, helped by timepieces priced at over 3,000 Swiss francs. Other categories reported declines. "Swiss watch exports this year will be driven mainly by Rolex and a few other independent brands at the high end," Bertschy says. This mirrors the wider trend in the luxury sector, with brands that cater to the wealthiest shoppers showing more resilience amid a general slowdown in demand for luxury goods. This bodes well for Richemont, while Swatch Group--which has a strong exposure in the entry to mid-segment--could face more challenges. (andrea.figueras@wsj.com)

(END) Dow Jones Newswires

September 19, 2024 09:24 ET (13:24 GMT)

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This mirrors the wider trend in the luxury sector, with brands that cater to the wealthiest shoppers showing more resilience amid a general slowdown in demand for luxury goods. This bodes well for Richemont, while Swatch Group--which has a strong exposure in the entry to mid-segment--could face more challenges. 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Total exports of watches amounted to ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"03650","symbol_name":"KEEP","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2468845572","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2468845572","pubTimestamp":1726752240,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1323 GMT - Exports of high-end watches continue to perform well despite a general downward trend, Vontobel analyst Jean-Philippe Bertschy says in a research note. 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