Enior Executive of Rolex: The Export of Swiss Watch May Drop By One Third
Rolex’s CEO Bruno Meier said in an interview published on a Swiss German newspaper on 31 that the total export values of the world’s leading Swiss watch may at most fall by one third this year.
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According to AFP, Meier said in the Basel World Watch and Jewelry Show that he could imagine a 1/3 drop in Swiss watches’ value of export.
The total value of Swiss watches export has gained a 6.7% increase, amounting 17 billion Swiss Francs (11.2 billion euro), but it is facing a continuous decline in recent months.
According to the statistics released by the Federation of Swiss Watch Industry, the total values of Swiss watches export dropped by 22.4% in February.
However, Meier states that Rolex is less affected than other manufacturers. Rolex is owned by Hans Wilsdorf Foundation in Geneva, and its sales or financial figures will not be released to the public.
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