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%.
Swiss watches enjoy an unrivalled worldwide reputation.
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.