In recent decades, Russian clients in the Swiss watch market

Swiss watch market

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According to the latest figures published by the Federation of Swiss Watch Industry, the increase of exports of watches 8-fold between 2000 (40 million francs) and 2007. (About 322 million francs). Then, for two consecutive years because of the international financial crisis marked decline in exports of wristwatches. In 2008 (-9.7% compared to 2007) was scheduled at a moderate level, and the slump in 2009 (-51.2% compared with 2008). However, since 2009 the situation changed for the better. Export growth between 2009 and 2010. amounted to 57.4% in 2011, for the first quarter it amounted to + 66% (compared to the same period in 2010). As the report notes the Federation of Swiss Watch Industry, these statistics do not fully reflect the situation on the Russian market, but only direct exports from Switzerland to Russia.

The report notes that over the past few decades has increased significantly the number of Russian clients in the Swiss watch market. This situation can only please the Swiss watchmakers. In fact, after the 2008 crisis, Russians make up a substantial “customer base” in the Swiss watch market. According to director of Patek Philippe Salons in Geneva, Patrick Cremers, Russian is affected by the financial crisis, but the situation changed and they come back. “Russian buyers is very interesting for us because He is sensitive enough to appreciate the luxury and extravagant products. Russian actively respond to innovation and prefer complicated watches. Currently, they prefer larger models, which should emphasize their status. At the same time a decrease in interest in gold models, towards a more restrained in white gold or platinum.

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