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Watch declining

Since the strict implementation of anti-corruption regulations by the Chinese government in 2012, the high-end Swiss watch industry has suffered more significantly than others. However, due to the watch market sales model in China, domestic dealers and distributors were not able to react quickly enough to declining sales, and continued to hold large stocks. As a result, sales data provided by the brands, did not demonstrate an obvious decline. However in late 2013, due to their inability to move inventory, many dealers reduced their stock purchases, and in some cases holding no stock of certain items. Swiss watch imports therefore declined for the first time in Mainland China by approximately 12.2%…

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