Watchmakers Find Gold Rush in China Is Slowing Down
Shipments of timepieces to China from Switzerland, the world's dominant watch production center, have fallen below the levels of two years ago, after setting a record in 2012.
Shipments of timepieces to China from Switzerland, the world's dominant watch production center, have fallen below the levels of two years ago, after setting a record in 2012.
The Swiss watch industry wants to tighten requirements so that 80 percent of the value of the watch has to be made locally, rather than in countries like China.
Watch houses, eager to bring attention to their history, are organizing their own museum exhibitions and in turn giving their brands extra panache.
In January, Swatch, the Swiss timepiece maker, will cut back its sales of watch components to competitors, a move that is fanning resentment of Swatch’s clout and size in the industry.
The invitation-only salon bills itself as the landmark gathering for the fine watch sector. But other companies not in the salon's fold were angling for a piece of the action.