×
146
Fashion Jobs
NIKE
India Sports Marketing Manager
Permanent · Bengaluru
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
PUMA
Senior Manager - Golf Sales (Cpg-Cobra Puma Golf)
Permanent · Bengaluru
PUMA
Manager - Accounts Payable
Permanent · Bengaluru
PUMA
Senior Manager – Teamsport Sales
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
PUMA
Manager – Customer Reconciliation And Accounts
Permanent · Bengaluru
PUMA
Manager – Warehouse Operations (Ecommerce)
Permanent · Gurugram
PUMA
Warehouse Manager-Offline Business
Permanent · Bengaluru
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Senior Product Manager - Enterprise Service Management (Esm), India – Tech Ops Icc
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
NIKE
Senior Security Engineer, India – Cis Icc
Permanent · Bengaluru
SHAYA BY CARATLANE
Merchandiser & Planner
Internship · MUMBAI
NIKE
Senior Software Engineer Iii, India – Marketing Technology Icc
Permanent · Bengaluru
NIKE
Talent Acquisition Coordinator – India, Icc
Permanent · Bengaluru
SS HOMME - SARAH & SANDEEP
Marketing And PR Intern
Internship · MUMBAI
TARAMA
Graphic Designer
Internship · MUMBAI
MASAR GROUP
IT Support
Permanent · DUBAI
NIKE
Sap Security Engineer – Sec Tech, Icc, India
Permanent · Bengaluru
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 2021 All rights reserved.