×
360
Fashion Jobs
DANIEL WELLINGTON
IT Support Specialist
Permanent · MUMBAI
ADIDAS
Senior Manager, Ecommerce Campaign Operations, Apac
Permanent · GURUGRAM
MANPOWERGROUP SERVICES INDIA
Opening || Horeca Sales Manager || Kolkata
Permanent · Kolkata
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Karaikal
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Thiruvarur
DBS BANK
Hiring For Area Sales Manager - Gold Loan
Permanent · Tirunelveli
AVANTOR
Area Sales Manager- Lab Consumables
Permanent · Pune
ADIDAS
Manager Brand Activation Originals
Permanent · GURUGRAM
ZACH LIFESTYLE PVT. LTD.
Manager - Content & Social Media
Permanent · MUMBAI
MONALISA ELECTRONIC DESIGN CENTRE PRIVATE
Excellent Job Opportunity For Area Sales Manager- gt & mt
Permanent · Shimla
RRD
Associate Production Manager
Permanent · Chennai
GOKALDAS EXPORTS
Executive - Warehouse (Apparel / Garments Background)
Permanent · Bhopal
NEW ALFA INTERNATIONAL
Foundry Production Manager
Permanent · Dubai
MEDCIS PATHLABS
Medcis Pathlabs is Hiring For Pathology Area Sales Manager
Permanent · Visakhapatnam
PERFECT PUBLISHING SOLUTIONS
Area Sale Manager-b.Tech Fresher-German Mnc -Immediate Joining
Permanent · Bhubaneswar
PERFECT PUBLISHING SOLUTIONS
Area Sale Manager-Denmark Mnc - Medical Device or Hearing Aid
Permanent · Chennai
PEOPLE ALLIANCE WORKFORCE
Area Sales Manager - Cosmetics & Personal Care - Fmcg Industry
Permanent · Bhopal
DESAI ELECTRONICS
Manager Production
Permanent · Pune
PEOPLE ALLIANCE WORKFORCE
Area Sales Manager - Ophthalmic Segment/Ent- Pharma Industry
Permanent · Bengaluru
PEOPLE ALLIANCE WORKFORCE
Sales And Marketing Executive/Asst. Manager -Rigid/Plastics Packaging
Permanent · National Capital Region
BT PRINT PACKAGING SOLUTIONS LLP
Sales Engineer / Businesss Development Manager / Area Sales Manager
Permanent · Faridabad
PEOPLE ALLIANCE WORKFORCE
Area Sales Manager/Asm/Sales Manager- Pharma Industry
Permanent · Chennai
By
Reuters
Published
Sep 28, 2016
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Swiss watchmakers pessimistic about industry outlook

By
Reuters
Published
Sep 28, 2016

Swiss watchmakers are pessimistic about the outlook for the industry, with the number of downbeat executives doubling since 2015 to 82 percent this year, a study by Deloitte showed on Tuesday.


Foto: AFP


"Weaker foreign demand poses the key challenge at the moment – and the industry believes this will remain in the next twelve months," study authors said, adding 57 percent of the over 50 watch executives surveyed expected demand for Swiss watches in Hong Kong to keep declining.

Swiss watchmakers are grappling with a combination of collapsing demand in Hong Kong, their biggest market, tourists avoiding Europe for fear of militant attacks, and high costs exacerbated by a strong Swiss franc.

Swiss watch exports fell 10.9 percent in the first eight months of 2016, with Hong Kong down 27.6 percent.

However, the Deloitte study also identified some reasons for optimism. "The attractiveness of the 'Swiss Made' label, the undisputed leadership of Switzerland in the luxury watch market and its innovation capacity all remain strong fundamentals," study author Karine Szegedi said in a statement.

With Hong Kong's fortunes waning, the United States and India are seen as the watch markets with the most potential, Deloitte said.

Co-author Jules Boudrand said the growing category of smartwatches, and notably the Apple watch, was not seen posing a significant threat to the Swiss industry, with only 21 percent of the polled executives seeing those devices as a risk.

Swatch Group (UHR.S) and Richemont (CFR.S) shares were down 0.9 percent at 1113 GMT, underperforming a 0.5 percent higher European personal and household goods index .SXQP.

(Reporting by Silke Koltrowitz; Editing by Mark Potter)

 

© Thomson Reuters 2023 All rights reserved.