Swiss watch execs say the market is 'slowing down' — but that just means waitlists for new Rolexes or Patek Philippes are a little less long
The all-out global frenzy for Swiss luxury watches is coming down from its pandemic-era peak, according to executives at leading brands, including Patek Philippe.
"I see in the past two months, the market is a little bit slower than before," chairman Thierry Stern told"I don't say that it's very bad — not at all. But I just see that it's slowing down," he added. Oris Co-CEO Rolf Studer similarly told the outlet that dealers have been clearing inventories, though his company is seeing slightly lower restocking orders.steel sports watch — manufactures 60,000 to 70,000 watches per year, which sell for $30,000 and up.
Swiss exports boomed during the pandemic to a record 25 billion Swiss francs , but even with the recent softening, Stern told Bloomberg demand still vastly outstrips supply.And even though Rolex reportedly produces more than
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