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Wednesday, June 03, 2009

Signs of the time - Swiss Watch Exports fall

Swiss watch industry hurt by crisis

Swiss watch exports fell 7.6 percent in December 2008 compared to December 2007, and the trend is expected to continue through 2009.

TRANSCRIPT:
They're arguably the finest watches in the world -- and some wear the finest price tags: over EUR 1.5 million for this one. But the economic gloom of the last few months is making a normally high-flying clientele think twice.

Alexis Meyer, Head of "Les Ambassadeurs" Department Store:
"We're selling products of passion not necessity goods so, today, given the economic environment, people are much more careful."

It's here in this industrial zone a few kilometres away from Geneva that most Swiss luxury watches are made. More

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