Swiss watch factories reopen and the brands are rejoining the market, but it’s unclear what the future has in store for them. Since the coronavirus lockdown in February, the luxury business has been in a steep decline and during March, Swiss watch exports dropped 21.9 percent overall and even 41.3 percent in the very important market of Hong Kong. Whether the watch industry can recover well or not also depends on how long the coronavirus crisis will last; 3 to 4 months might not be a big problem, but if it lasts longer, it could get very expensive. For brands that are owned by bigger luxury groups, survival won’t be a problem, but independently-owned watchmakers and parts suppliers will be at risk.
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