Swiss watch exports had a record year in 2021 as consumers bought into high-end timepieces.
The strong results in December were to be read in the context of much tougher comparisons than those for November, when exports increased 8.7 percent on 2019, Madjo said.
“Swatch Group’s high-end watch brands are performing well, however, it continues to face structural headwinds for its entry and mid-price watches,” said RBC analyst Piral Dadhania when the company’s numbers were published Tuesday. The growth has been driven not only by the top end of the market, but also by particularly strong demand Stateside — the largest market worldwide for Swiss watch exports. Numbers there in December were up a massive 44 percent on two years ago, capping off a bumper year.
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