Bulgari CEO: Swiss watch exports could grow 5 to 10 percent in 2014
In an interview to French daily Le Temps, Jean Christophe Babin, the new CEO of Bulgari (LVMH) said ’I'm expecting a rather rapid improvement from the beginning of next year. For the year as a whole, we can reasonably expect 5 to 10 percent growth in Swiss exports’. He also added that with macroeconomic indicators improving, destocking at watch retailers is coming to an end.
Swiss watch exports have slowed considerably this year due to weakening demand in the greater China region, their biggest market. They were up 1.1 percent during the first eight months of the year. Babin (formerly CEO of Tag Heuer) also said it was one of his priorities to strengthen Bulgari’s core jewellery business by increasing the brand’s offer in precious and semi-precious stones and in products with diamonds while at the same time enlarging the range of accessible products. “The cake keeps getting bigger. And, distinct from watchmaking, there are no supply shortages, except for extraordinary precious stones,” he said.