Expensive Watches Provide Some Hope Amid Exports Decline -- Market Talk

Dow Jones11-19 19:05

1105 GMT - The performance of expensive Swiss watches amid continued declines in exports show it isn't all doom and gloom, Bernstein analysts say in a research note. "Although this could be a function of higher product availability from Tier 1 brands--most notably Rolex--this may lead to broader luxury watch resilience than expected," they say. A strong reported first-half growth in watch sales at Richemont's Cartier suggests there is still appetite for luxury watches, the analysts say. However, Swatch Group's higher exposure to the cheapest watches, those below 200 Swiss francs, could damp these benefits, they add. (maitane.sardon@wsj.com)

(END) Dow Jones Newswires

November 19, 2024 06:05 ET (11:05 GMT)

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