German premium brand ESCADA inaugurated last week its mono-brand store in the Romanian ...
read more
Prada opened last week two stand alone stores, marking the official entry on the Moroccan ...
read more
French luxury group PPR, parent company of Gucci, Bottega Veneta, Boucheron has teamed up ...
read more
French luxury maison Chanel announced the opening of its 6th store in Australia, in the ...
read more
Italian luxury group TOD'S which includes the Tod's, Hogan, Fay and Roger Vivier brands, ...
read more
The biggest rally in three years for luxury-goods makers in Europe is fizzling on concern ...
read more
Swiss watch exports drop in February and March
News 26 April 2009
As predicted by CPP even as early as December 2008, luxury watches have continued to be one of the most affected sector of the worldwide luxury industry. Swiss Federation confirmed last week a drop of 26% in exports of Swiss watches. World number 1 luxury group LVMH reported last week a fall in sales of up to 41% for its luxury watches division.
We estimate sales of luxury watches have dropped on average by 10% in January and February in Bulgaria, Romania and Serbia, while Hungary and Czech Republic have posted drops of up to 15%. The ebbing trend remains for the rest of 2009 in the entire region, especiallty for top luxury brands.
We estimate sales of luxury watches have dropped on average by 10% in January and February in Bulgaria, Romania and Serbia, while Hungary and Czech Republic have posted drops of up to 15%. The ebbing trend remains for the rest of 2009 in the entire region, especiallty for top luxury brands.