Swiss watch exports plunge on Hong Kong unrest

November 26, 2019 Siyabonga Mtangana

An employee inspects an assembled Luminox navy seal colormark 3050 series wristwatch at the Mondaine Watch Ltd. production facility in Solothurn, Switzerland, on Tuesday, Oct. 25, 2016. Mondaine is one of several Swiss watchmakers adding electronic functions to its watches as Apple Inc. encroaches into its territory. Photographer: Michele Limina/Bloomberg

INTERNATIONAL – Swiss watch exports to mainland China surpassed those to Hong Kong for the first time in October as anti-Beijing protests in the city dissipated demand for luxury goods.

Shipments to Hong Kong plunged 30%. It was the first time the city ranked behind mainland China as a landing spot for the products since the Federation of the Swiss Watch Industry began keeping monthly records about 30 years ago.

Source: iol.co.za

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