Lenny Kravitz attends the 95th Academy Awards at the Dolby Theater wearing the Jaeger-LeCoultre Reverso Classic Duoface Small Seconds watch.
Swiss watchmaking had an excellent year in 2022. Following the return to pre-Covid levels seen in 2021, the sector has been on a path of solid growth that allowed it to achieve record performance, despite the significant decline in two of its three main markets.
Swiss watch exports between January and June 2022 amounted to 11.9 billion francs, representing a growth of 11.9% compared with the first semester in 2021. While 70% of this increase stems from mechanical watches made of precious metals or steel, the other categories also contributed to the overall upward trend. The remarkable increase in exported watches should also be noted.
2021 saw a faster than expected recovery for Swiss watch exports. Performance was driven by very strong growth in the United States, alongside a steady upward trend in China, while numerous other markets continued to face sometimes significant difficulties.
Watch exports were valued at 10.6 billion Swiss francs in the first half of 2021. This was comparable (-0.5%) to the result achieved in 2019, which is viewed as the reference year given that the historically poor performance recorded in 2020 does not provide a useful annual basis for comparison.
The year 2021 marks the 220th anniversary of the Tourbillon. To celebrate the occasion, Breguet joins hands with K11 MUSEA to host a “Breguet – Inventor of the Tourbillon” Pop-Up to share the Tourbillon stories, featuring virtual voice navigation, and showcase the brand’s spectacular Tourbillon timepieces, including Classique Double Tourbillon 5345 Quai de l’Horloge, which makes its first debut in Hong Kong.
Since its opening in 2018, MB&F M.A.D.Gallery Hong Kong has become a hub for mechanical art enthusiasts to appreciate the tour de force of different artists. To provide its fans with a more chic and artistic environment to appreciate the art pieces and galvanise their imagination, M.A.D.Gallery Hong Kong has been relocated to K11 MUSEA, the brand new shopping and art appreciation destination.
2020 was an unprecedented year, resulting in a sharp decline in activity for the luxury goods sector as a whole, and for the watch industry in particular. The value of Swiss watch exports in this exceptional situation fell to 17 billion francs compared with 21.7 billion a year earlier, a decline of 21.8%.
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The Swiss watch industry has decided to strengthen the criteria of the Swiss made label.
Buying or selling counterfeit products undermines know-how, finances organised crime, and threatens jobs and innovation.