After having to contend with an unfavourable economic, structural, political or security environment, depending on the markets, the Swiss watch industry has gradually adjusted to the new environment in which it will have to operate. The adverse consequences on the state of business have given way to a recovery which has already become a strong upturn on some markets.
The environment confronting the Swiss watch industry remained difficult throughout the year 2016. Demand for personal luxury goods fell, especially for the most expensive products. Timepieces therefore had to contend with changes in the choices made by consumers who are increasingly interested in the notion of experience associated with the world of luxury and less in shopping as used to be the case.
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.