×
208
Fashion Jobs
PUMA
Manager- Ecommerce Operations
Permanent · Bengaluru
PUMA
Warehouse Manager-D2C
Permanent · Bengaluru
PUMA
Digital Marketing Manager
Permanent · Bengaluru
EXPLODE SERVICES
Quality Assurance Manager Home Furnishing Garments For Noida
Permanent · Noida
EXPLODE SERVICES
Manager ie Garment Exports
Permanent · Noida
THE BANYAN HR CONSULTS
Merchandising Manager For a Seamless Garments Textile co at Coimbatore
Permanent · Coimbatore
OPERA CLOTHING PRIVATE LIMITED
Production Manager For Garment Manufacturing Factory
Permanent · Vapi
GOKALDAS EXPORTS LTD
sr. Manager - Technical - Garments Industry Background
Permanent · Bengaluru
NIKE
Lead Technical Product Manager, ed&a – Apla
Permanent · Bengaluru
NIKE
Senior Security Incident Responder – Cis
Permanent · Bengaluru
FAABIIANA
Executive For Online Product & Order Management
Permanent · NEW DELHI
FAABIIANA
Customer Sales Executive (Female)
Permanent · NEW DELHI
NIKE
Senior Technical Product Manager, Inventory & Order – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Finance – Apla
Permanent · Bengaluru
NIKE
Senior Technical Product Manager, Core Erp – Apla
Permanent · Bengaluru
OMREELS BIOSCOPE PVT LTD
Senior Executive Ecommerce
Permanent · MUMBAI
NIKE
Senior Technical Program Manager, Marketing Tech – Dtpo
Permanent · Bengaluru
NIKE
Service Delivery Manager, Operations Center – Tech Ops
Permanent · Bengaluru
NIKE
Director, Security Solutions & Delivery – Cis
Permanent · Bengaluru
NIKE
HR Manager - Nike India Technology Centre
Permanent · Bengaluru
NIKE
Financial Controller - India
Permanent · Bengaluru
NIKE
Software Engineering Manager, Finance & Procurement Technology – cf&c
Permanent · Bengaluru
By
Reuters
Published
Apr 22, 2010
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Swiss watch exports back to 2007 levels in March

By
Reuters
Published
Apr 22, 2010

PARIS, April 22 (Reuters) - The recovery of the Swiss watch industry accelerated in March with exports up 33 percent versus the same month last year, the Federation of the Swiss Watch Industry said on Thursday 22 April.


Vacheron Constantin, a Richemont Group brand

Total Swiss watch exports reached 1.2 billion Swiss francs ($1.12 billion), buoyed by improved demand in the United States and strong growth in China and Hong Kong.

However, the Federation said the main European markets "lost ground (during the period under review) even though Germany recored a double-digit increase".

The growth marked a sequential monthly improvement as Swiss watch exports rose 14.2 percent in Feb. and 2.7 percent the previous month, signalling the industry was turning its back on the black year of 2009 during which exports dropped 22 percent.

"The recovery is therefore clearly confirmed, with the first quarter showing an upturn of 16.6 percent and a return to levels recorded in 2007," the federation said in a statement.

Growth was strongest in the 500-3,000 Swiss francs price segment which was up more than 45 percent while the segment above saw growth of 40 percent.

Analysts said sustained recovery in the higher end of the watch market would particularly benefit Richemont (CFR.VX) and Swatch (UHR.VX).

By 0921 GMT, Richemont shares were up 0.3 percent at 40.24 Swiss francs while Swatch stock was up 0.8 percent at 329.20 francs and LVMH (LVMH.PA) was up 0.3 percent at 87.81 euros.

"The combination of improving economic conditions, financial wealth and consumer sentiment, lower inventory levels in the trade, retail capacity withdrawal and a much softer basis of comparison until November 2010 should support demand for Swiss watches," Citi said in a note.

(Reporting by Astrid Wendlandt; Editing by Michael Shields)

© Thomson Reuters 2022 All rights reserved.