Hard times for watch industry?
Some sources report that the Swiss watch industry starts feeling the results of the global financial crisis. Reuters reported that especially the higher segment ($150,000 and higher) saw orders being cancelled. They also say that the mid range sales stagnated and in the lower segment ($2,000 – $6,000) sales are dropping as well.
Alltough these bad reports give me the idea it’s all bad, Cortina saw their sales during the 11 day Watch Juwellery Time 2008, increase with 20% wehn compared to the previous event in 2006. You can read more about this on Horomundi where a full report will be posted pretty soon.
I’m curious where this will lead us and what the influence will be on consumer listprices and on prices for the second hand market.