Sumary of Switzerland: watch exports up 11.9% in the first half:
- The Chinese market has benefited from the gradual easing of anti-Covid measures after two months of partial closure, notes the watchmaking federation in a press release, which also recalls that the basis of comparison is very high.
- The luxury giant Richemont saw its quarterly sales drop by 37% in China, but offset this decline with strong demand in the Americas and Europe.
- Swiss watch exports rose 11.9% year on year in the first half, swelling to 11.9 billion Swiss francs (11.9 billion euros), the watch federation announced on Tuesday, the effect of the zero policy -Covid in China easing during the month of June.
- Last week, the watchmaker Swatch Group, owner of the Omega, Longines and Tissot brands, mentioned a shortfall of 400 million francs in China during the first half.