Apr 7, 2017
Swiss Watch eyes recovery amid global headwinds
After a 10% fall to $19.7B, Baselworld signals point to recovery, China rebound, connected watches, and digital saving the industry.
⏱ 3 min read
By mediareach
It's been a tough few years for watches, even with luxury brands embracing technology. But as fans flocked to Baselworld, the Swiss watch industry's annual showcase, leaders were predicting an uplift.
The Downturn
Last year, sales of Swiss watches fell nearly 10% to about $19.7 billion. François Thiébaud told attendees the drop was driven by "uncertainty on political, security-related and financial levels, a downturn in tourism in Europe, and a persistently strong franc."
The impact was visible: widespread layoffs as watches struggled to find wrists in a tech-dominated world.
Signs of Recovery
There were green shoots. Sales in China strengthened in the last six months.
Luxury powerhouse LVMH said sales in its watches and jewellery division grew 5%, with TAG Heuer gaining share thanks in part to its connected watch. Richemont, parent of Cartier and Piaget, also reported a 5% gain. Swatch's CEO told Bloomberg he predicts increases of 7% to 10% in the year ahead.
Innovation Plus Digital Equals The Save
Many of the season's launches were built on innovation. Movado Connect debuted with a touchscreen powered by Android Wear and 100 dial configurations. Swatch unveiled the world's tiniest Bluetooth chip and introduced Swatch Skin, its thinnest-ever range.
Baselworld itself shows how vital watches are to Switzerland, third-largest export, 3% of world's timepieces but 60% of its value.
Yet tech and digital marketing may be what saves them. After declining sales and profitability from 2014-2016, online vs offline divergence grew. While 2016 holiday sales at brick-and-mortar disappointed, online jewellery sales were up double digits and Amazon sold a watch every 1.5 seconds.
Swiss watches account for only 3% of the world’s timepieces, but 60% of its value.
Baselworld
Swiss Economy Impact
Marketing Luxury in a Tech World?
Mediareach helps luxury brands balance heritage and innovation, with digital strategies that reach new wrists without losing legacy.
Sources & References
François Thiébaud, Baselworld — Swiss watch sales down ~10% to $19.7B on political, security, financial uncertainty, tourism downturn, strong franc.
LVMH watches & jewellery +5% with TAG Heuer connected watch, Richemont +5%, Swatch CEO 7-10% growth forecast to Bloomberg.
Movado Connect Android Wear 100 dials, Swatch tiniest Bluetooth chip, Swatch Skin thinnest range.
Baselworld economic impact — third-largest Swiss export, 3% volume 60% value; digital think-tank — Amazon watch every 1.5 seconds, online jewellery double digits vs brick-and-mortar decline 2016.
Swiss watches recovery
Baselworld 2017
Swiss watch sales $19.7bn
LVMH watches jewellery 5%
Richemont Cartier Piaget
Swatch CEO forecast 7-10%
Movado Connect Android Wear
Swatch Skin thinnest
luxury watch innovation
Swiss export 60% value
The UK's pioneering multicultural marketing and advertising agency. Over 40 years connecting luxury and lifestyle brands with diverse audiences through insight and digital strategy.
Apr 7, 2017
Swiss Watch eyes recovery amid global headwinds
After a 10% fall to $19.7B, Baselworld signals point to recovery, China rebound, connected watches, and digital saving the industry.
⏱ 3 min read
By mediareach
It's been a tough few years for watches, even with luxury brands embracing technology. But as fans flocked to Baselworld, the Swiss watch industry's annual showcase, leaders were predicting an uplift.
The Downturn
Last year, sales of Swiss watches fell nearly 10% to about $19.7 billion. François Thiébaud told attendees the drop was driven by "uncertainty on political, security-related and financial levels, a downturn in tourism in Europe, and a persistently strong franc."
The impact was visible: widespread layoffs as watches struggled to find wrists in a tech-dominated world.
Signs of Recovery
There were green shoots. Sales in China strengthened in the last six months.
Luxury powerhouse LVMH said sales in its watches and jewellery division grew 5%, with TAG Heuer gaining share thanks in part to its connected watch. Richemont, parent of Cartier and Piaget, also reported a 5% gain. Swatch's CEO told Bloomberg he predicts increases of 7% to 10% in the year ahead.
Innovation Plus Digital Equals The Save
Many of the season's launches were built on innovation. Movado Connect debuted with a touchscreen powered by Android Wear and 100 dial configurations. Swatch unveiled the world's tiniest Bluetooth chip and introduced Swatch Skin, its thinnest-ever range.
Baselworld itself shows how vital watches are to Switzerland, third-largest export, 3% of world's timepieces but 60% of its value.
Yet tech and digital marketing may be what saves them. After declining sales and profitability from 2014-2016, online vs offline divergence grew. While 2016 holiday sales at brick-and-mortar disappointed, online jewellery sales were up double digits and Amazon sold a watch every 1.5 seconds.
Swiss watches account for only 3% of the world’s timepieces, but 60% of its value.
Baselworld
Swiss Economy Impact
Marketing Luxury in a Tech World?
Mediareach helps luxury brands balance heritage and innovation, with digital strategies that reach new wrists without losing legacy.
Sources & References
François Thiébaud, Baselworld — Swiss watch sales down ~10% to $19.7B on political, security, financial uncertainty, tourism downturn, strong franc.
LVMH watches & jewellery +5% with TAG Heuer connected watch, Richemont +5%, Swatch CEO 7-10% growth forecast to Bloomberg.
Movado Connect Android Wear 100 dials, Swatch tiniest Bluetooth chip, Swatch Skin thinnest range.
Baselworld economic impact — third-largest Swiss export, 3% volume 60% value; digital think-tank — Amazon watch every 1.5 seconds, online jewellery double digits vs brick-and-mortar decline 2016.
Swiss watches recovery
Baselworld 2017
Swiss watch sales $19.7bn
LVMH watches jewellery 5%
Richemont Cartier Piaget
Swatch CEO forecast 7-10%
Movado Connect Android Wear
Swatch Skin thinnest
luxury watch innovation
Swiss export 60% value
The UK's pioneering multicultural marketing and advertising agency. Over 40 years connecting luxury and lifestyle brands with diverse audiences through insight and digital strategy.
Apr 7, 2017
Swiss Watch eyes recovery amid global headwinds
After a 10% fall to $19.7B, Baselworld signals point to recovery, China rebound, connected watches, and digital saving the industry.
⏱ 3 min read
By mediareach
It's been a tough few years for watches, even with luxury brands embracing technology. But as fans flocked to Baselworld, the Swiss watch industry's annual showcase, leaders were predicting an uplift.
The Downturn
Last year, sales of Swiss watches fell nearly 10% to about $19.7 billion. François Thiébaud told attendees the drop was driven by "uncertainty on political, security-related and financial levels, a downturn in tourism in Europe, and a persistently strong franc."
The impact was visible: widespread layoffs as watches struggled to find wrists in a tech-dominated world.
Signs of Recovery
There were green shoots. Sales in China strengthened in the last six months.
Luxury powerhouse LVMH said sales in its watches and jewellery division grew 5%, with TAG Heuer gaining share thanks in part to its connected watch. Richemont, parent of Cartier and Piaget, also reported a 5% gain. Swatch's CEO told Bloomberg he predicts increases of 7% to 10% in the year ahead.
Innovation Plus Digital Equals The Save
Many of the season's launches were built on innovation. Movado Connect debuted with a touchscreen powered by Android Wear and 100 dial configurations. Swatch unveiled the world's tiniest Bluetooth chip and introduced Swatch Skin, its thinnest-ever range.
Baselworld itself shows how vital watches are to Switzerland, third-largest export, 3% of world's timepieces but 60% of its value.
Yet tech and digital marketing may be what saves them. After declining sales and profitability from 2014-2016, online vs offline divergence grew. While 2016 holiday sales at brick-and-mortar disappointed, online jewellery sales were up double digits and Amazon sold a watch every 1.5 seconds.
Swiss watches account for only 3% of the world’s timepieces, but 60% of its value.
Baselworld
Swiss Economy Impact
Marketing Luxury in a Tech World?
Mediareach helps luxury brands balance heritage and innovation, with digital strategies that reach new wrists without losing legacy.
Sources & References
François Thiébaud, Baselworld — Swiss watch sales down ~10% to $19.7B on political, security, financial uncertainty, tourism downturn, strong franc.
LVMH watches & jewellery +5% with TAG Heuer connected watch, Richemont +5%, Swatch CEO 7-10% growth forecast to Bloomberg.
Movado Connect Android Wear 100 dials, Swatch tiniest Bluetooth chip, Swatch Skin thinnest range.
Baselworld economic impact — third-largest Swiss export, 3% volume 60% value; digital think-tank — Amazon watch every 1.5 seconds, online jewellery double digits vs brick-and-mortar decline 2016.
Swiss watches recovery
Baselworld 2017
Swiss watch sales $19.7bn
LVMH watches jewellery 5%
Richemont Cartier Piaget
Swatch CEO forecast 7-10%
Movado Connect Android Wear
Swatch Skin thinnest
luxury watch innovation
Swiss export 60% value
The UK's pioneering multicultural marketing and advertising agency. Over 40 years connecting luxury and lifestyle brands with diverse audiences through insight and digital strategy.