Eight Years ago: Plastic is pase for Swiss watch buyers.

SWITZERLAND: Plastic is passe for Swiss watch buyers:
For Swiss watch buyers, all that glitters is indeed gold.


“Consumers are turning away from Swiss watches made of plastic in favor of pricier and more durable models made of gold and steel, a trade association said Thursday.

The Swiss watch industry also appears to be doing better overall, according to figures published by the Federation of the Swiss Watch Industry.

[...]

Steel watch exports rose 10.4 percent in volume terms, and by 32.8 percent in terms of value.

“If you buy a plastic watch, the next day the model has already changed. It is somehow no longer the style of the current generation. They would like to live with it (a watch) for a long time,” said Ueli Trachsel, director of finance at watchmaker TAG Heuer International SA.

TAG Heuer, which does not make plastic watches, is strongly promoting its higher-priced steel and gold brands.

“The trend has changed, the consumer wants to have a well-positioned product with a certain image,” Trachsel said.

Ste Suisse Microelectronique et d’Horlogerie SA (SMH) has also had good success with its new “Irony” steel-watch brand.

SMH President Nicolas Hayek is credited with helping to save the Swiss watch industry in the 1980s with his successful marketing of the firm’s plastic “Swatch” watches, still the dominant plastic Swiss watch brand.”

(via Affluence Blog)

Still very Relevant.

Comments

Leave a comment