China's economic slowdown to leave the cushioning effect of the Swiss watch industry. Major Asian stock markets fell in September. In the largest markets, Hong Kong's exports fell by a fifth. In China, the total deficit or even 28%. Overall, Swiss watch exports by 2.7% in September fell to 173 million francs, if the UAS Industry Association said on Thursday. Therefore, the output of more than 30 months for the first time back. This is the industry's rise, the U.S. dollar against the Swiss franc. True, that does not include the price impact of a negative 8.6%.
The impact of other luxury goods industry
China's main market, the demand for luxury goods slowed in recent months. This will also affect the exclusive manufacturer of replica watches, jewelry or fashion. Therefore, the British fashion house Burberry warned that revenue growth in the People's Republic of China is still far lower than expected.
Swiss watch maker Richemont Group brand IWC, Omega manufacturer Swatch loss, but at least in part to make up for the domestic market. Asian tourists to travel through Europe to beat the high luxury tax, in order to avoid their own country, and take full advantage of the favorable exchange rate.
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