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Industry News: Is The Swiss Watch Industry Doomed?

Twenty-Twenty, the Annus horribilis we all hope to forget as soon as possible. This hope is also shared by the Swiss watchmakers out there. As we have seen from the last industry export figures, the Swiss have experienced what is one of the very worst years for their watch industry.

Source: Federation of the Swiss Watch Industry

The question is then, what now? Well, good for you someone at SwissInfo has already done some thinking on the subject and laid it out nicely in a detailed write-up. An interesting read for anyone with even a casual interest in the watch industry.

In a nutshell, they go into the following five ‘action’ points:

  • Return to growth while limiting layoffs
  • Do not put all your eggs in one (Chinese) basket
  • Win back Western consumers and the younger generation
  • Keep the manufacturing base in Switzerland
  • Pursue the digital transformation

For the full article, I invite you to check it out right here.

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watchwalker

That 2020 graph shows a -22%. Is that because of lack of demand or lack of production? By excluding Rolex it would even have been a -29% but since they too had to temporary stop production like most other Swiss manufacturers they also took a “beating”.

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