23 Mar '11, 7pm

Watchmakers see strong 2011

Watchmakers see strong 2011

Watchmakers gave upbeat forecasts for 2011 at the industry’s largest fair on Wednesday, although the deadly earthquake which hit key luxury consuming country Japan and Arab uprisings cast shadows over the expectations. Industry giants including Swatch and LVMH have all posted strong recoveries over 2010 and they are expecting the recovery to continue in 2011. Swiss exhibitors underlined that January sales were up 16.9 percent over a year ago and predicted that 2011 would be a new record year for the industry. “This return to full health has been confirmed through the whole of the year just gone by, so let us assume that 2011 is going to turn out to be just as positive and that the entire industry will thus be able to continue to progress,” said Sylvie Ritter, who manages the Baselworld fair . However, the earthquake in Japan and an ensuing nuclear crisis as well as popular...

Full article: http://www.luxuo.com/watches/watchmakers-see-strong-2011....

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