Published on November 19, 2024 at 4:20 p.m. / Modified on November 19, 2024 at 8:27 p.m.
Two percent. This is on average what the prices of luxury groups lost this Tuesday at the opening of the stock markets. Shortly after the release of watch export statistics for October, themselves down 2.2%. It is difficult to say with certainty that the two elements are linked. Even if there are reasons to think so, because the figures published by the Federation of the Swiss Watch Industry (FH) confirm the downward trend recorded since the start of the year. On the other hand, the fall in Asian demand, particularly in China and Hong Kong, has continued since the start of the year. It should therefore logically have been integrated for a long time into the valuations of the most exposed groups. Swatch Group in the lead, since the Biel-based company generates almost a third of its sales in Asia and its flagship brands – Omega, Longines and Tissot – are at the forefront in this region of the world.
The worst should be behind
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