“Swiss watch exports had their biggest decline in six years in October,” Corinne Gretler reports for Bloomberg.
“Shipments declined 12 percent to 2 billion Swiss francs ($2 billion), the Swiss customs office said in a statement Thursday. Adjusted for fewer working days, the drop was 7.6 percent. Exports to the U.S. dropped 12 percent,” Gretler reports. “‘2015 has been one to forget for the watchmakers,’ said Jon Cox, an analyst at Kepler Cheuvreux in Zurich.”
“Competition from Apple Inc.’s smartwatch has also weighed on low-end brands of timepieces,” Gretler reports. “Fossil Group Inc., a U.S. watchmaker, saw its stock slump 37 percent Nov. 13 after saying fourth-quarter sales may decline as much as 16 percent amid competition with wearable technology.”
Read more in the full article here.
MacDailyNews Take: As we predicted prior to Apple Watch launch:
We do not foresee anyone wanting to take off their Apple Watch in order to wear a “jewelry watch.” Apple Watch is not just a watch to be replaced with another regular watch. Maybe wearing two watches in come into vogue for special occasions? – MacDailyNews Take, April 16, 2015
Here’s what makers of Swiss or any other watches should do: Push the idea of wearing of two watches, one on each wrist or two on one wrist, into vogue. Because once people start using Apple Watch, they aren’t going to want to leave it at home. Ever. They won’t want to go to dinner parties without their Apple Watch. And that’s bad, bad news for watchmakers not named Apple. Watch and see. – MacDailyNews Take, April 16, 2015
SEE ALSO:
Swiss watch makers in deep shit, as Apple Watch designer Jony Ive predicted – October 23, 2015
Swiss watch exports post biggest quarterly export drop since 2009 – October 20, 2015
LVMH’s Jean-Claude Biver sees tougher 2016 for Swiss watch industry – September 29, 2015
Swiss watch exports decline most since 2009 – August 20, 2015
I own two $6,000 Swiss watches, but I wear my Apple Watch most of the time – August 14, 2015
Swiss watch exports hit worst slump in five years as Apple Watch debuts – June 19, 2015
As Swiss watchmakers dismiss Apple Watch, Swiss National Bank increases Apple holdings by 60% – May 10, 2015
Apple Watch Edition is poised to disrupt the classic Swiss watch – April 16, 2015
Jean-Claude Biver changes his tune, calls Apple Watch ‘a fantastic product, an incredible achievement’ – January 20, 2015
TAG Heuer plans smartwatch as honcho Jean-Claude Biver changes mind as Apple Watch looms – December 16, 2014
Apple Watch starts countdown on face off with Swiss industry – October 31, 2014
The fashion elite crowd around Apple Watch at Colette in Paris – September 30, 2014
Jean-Claude Biver: ‘The Apple Watch cannot compete at all with European watches’ – September 15, 2014
Jean-Claude Biver: Apple Watch ‘too feminine; looks like it was designed by a student in their first trimester’ – September 16, 2014
Barclays: Apple Watch could crush companies like Fossil – September 16, 2014
Jean-Claude Biver: ‘The Apple Watch cannot compete at all with European watches’ – September 15, 2014
Old school watch makers don’t get Apple Watch – September 12, 2014
Apple Watch, the world’s first real smartwatch, will be a massive hit – September 9, 2014
Apple iWatch designer Jony Ive: Switzerland is in deep shit – September 4, 2014