Swiss Watch Trade Sees 12th Month of Decline

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Swiss watch exports fell 11% year on year to CHF 1.59 billion ($1.78 billion) in January, the 12th consecutive monthly drop, as demand slowed in the US and in key Asian markets.

Shipments to the US declined 11% to CHF 183.3 million ($204.5 million), partly because strong figures in January 2020 created an unfavorable comparison, the Federation of the Swiss Watch Industry said Thursday.

Supply to Hong Kong dipped 9% to CHF 169.3 million ($188.9 million) last month as market conditions deteriorated, while exports to the UK and Japan slumped due to the tightening of Covid-19 measures, it added. January also had one fewer business day than the same period a year earlier.

The negative figures outweighed a 58% jump in orders from China, for a total of CHF 255 million ($284.5 million), mirroring a continued recovery of the retail sector on the mainland.

Globally, cheaper watches saw a sharper downturn, with shipments of timepieces priced under CHF 200 ($223) sliding 31% by value. Exports of watches with wholesale prices ranging from CHF 200 to CHF 500 ($558) decreased 26%, while goods valued between CHF 500 and CHF 3,000 ($3,347) suffered a decline of 25%. Shipments of items above that price level slipped 4.1%.

The numbers point to a worsening of the situation versus December, when the global decline was the mildest since the start of the pandemic as Chinese demand rose. The trade hasn’t witnessed a year-on-year increase since January 2020.

“The result for the month will nonetheless have only a limited effect on the upward trend seen since last summer, and a return to significant growth is expected over the next few months,” the federation noted.

Source: Diamonds.net

Ulysse Nardin Introduces an Exclusive Blast Edition

SOLDIER-SPARKLING-BLAST

At the Geneva Watch Days event in late August, Ulysse Nardin unveiled a new collection called Blast. The collection featured timepieces with a new, self-winding, skeletonized caliber with a flying tourbillon; a multifaceted case design inspired by the lines of stealth aircraft; and a new “one-click” folding clasp. A week later, Ulysse Nardin introduced another Blast reference, positioned as a high-end jewelry timepiece, whose open worked, automatic tourbillon movement, as well as its case, are embellished with geometrically cut diamonds in a motif reminiscent of a mosaic.

The new Sparkling Blast is limited to three pieces and has a 45-mm-diameter, white-gold case, with either a white-colored rubber strap or a deep blue-colored alligator strap. Each watch is adorned with a total of 211 hand-faceted diamonds across the case, crown, bezel, indexes, and hands; 85 of those diamonds are uniquely cut, giving the timepiece a total weight of 13 carats. The X-shaped cage on the open worked dial is also set with an array of diamonds, directly embedded into the architecture of this “shape-within-shape-within-shape” of the watch face, to highlight the large “X” framed inside the rectangle, itself framed inside the circle of the bezel.

The X-shaped cage on the openworked dial is set with an array of diamonds.

Ulysse Nardin says that the design of the case middle and its distinctive triple lugs borrows its “aligned edges and serrated triangular patterns” from the silhouettes of the wings found on stealth fighter jets, which make them invisible to radar and radio waves.

Each case, crown, bezel and index is adorned with hand-faceted diamonds; the watch has 211 diamonds in all.

The diamonds are set using an “invisible setting” technique that originated in France 200 years ago. In this setting, the diamonds are held in place by a hidden structure, which creates a floating appearance inside the metal ring but is invisible from the surface.

The self-deploying buckle is adorned with 1.22k of diamonds.

Like the Executive Skeleton Tourbillon and the other Blast models that preceded it, the new Sparkling Blast reference is powered by the skeletonized Caliber UN-172. This movement is an upgraded version of Ulysse Nardin’s existing Caliber 171, updated to feature a platinum micro-rotor, visible from the front at 12 o’clock, which is the silicon mainspring’s source of power, automatically winding it to amass a power-reserve up to three days (72 hours). Inside the movement is a 2.5-Hz silicon flying automatic tourbillon. Of the movement’s 137 components, 23 of them belong to the tourbillon.

The Ulysse Nardin Sparkling Blast retails for CHF 410,000 on either a white-colored rubber strap or a deep blue-and-white-colored leather strap, with a self-deploying buckle adorned with 1.22k of diamonds. The array of diamonds set on each timepiece comply with the World Diamond Council System of Warranties to ensure that no “conflict diamonds” enter the supply chain.

Source:Watchtime

Swiss Watch Exports Down 81% in April

Swiss Watches

Swiss watch exports plunged in April as coronavirus lockdowns brought the entire supply chain to a near halt.

“Swiss watch exports were extremely low in April as a direct result of the standstill in production, distribution and sales, causing them to collapse,” the Federation of the Swiss Watch Industry reported Tuesday.

Shipments slid 81% to CHF 328.8 million ($339.1 million) for the month, with nearly all markets declining significantly. Orders from Hong Kong plummeted 83% to CHF 42.2 million ($43.5 million), while supply to the US dropped 86% to CHF 27.9 million ($28.8 million). Exports to Japan fell 86% to CHF 19.5 million ($20.1 million).

The decline in China was more mild, slipping 16% to CHF 110.3 million ($113.7 million), and accounting for one-third of total Swiss watch exports in April, as the economy began to recover. However that compares with an increase of 11% to CHF 155.9 million ($160.6 million) in March. In February, shipments to China fell 52% due to the coronavirus.

All price categories “contracted sharply,” as exports of timepieces valued between CHF 500 ($516) to CHF 3,000 ($3,095) declined 72% by value. Watches worth more than CHF 3,000 dropped 86%.

Shipments of timepieces made from precious metal decreased 82% to CHF 102.4 million ($105.6 million). Supply of gold and steel watches saw the steepest decline, tumbling 90% to CHF 28.4 million ($29.3 million).

Source: Diamonds.net