Swiss Watch Exports Rise 6.9% On Year In July On Asian Demand
August 23 2012 - 2:30AM
Dow Jones News
By Neil MacLucas
ZURICH--Swiss watch exports increased 6.9% on the year in July,
driven by ongoing robust demand from Asia, data released Thursday
by Switzerland's customs office showed.
The value of watch exports reached 1.97 billion Swiss francs ($2
billion) in July, up 6.9% in real terms from the same month a year
earlier. In nominal terms, the gain was 15.4%, the office said.
Swatch Group AG (UHR.VX), Compagnie Financiere Richemont SA
(CFR.VX) and privately held Rolex are the main producers in the
Swiss watch market.
Shares in Swatch closed Tuesday at CHF403.70, up 16% in the year
to date. Those of Richemont closed at CHF60.65, for a gain of 30%
in the same period.
Write to Neil MacLucas at neil.maclucas@dowjones.com