The Only Way is Up
As we eased into 2017, the watch industry remained on tenterhooks. After 20 consecutive months of negative growth in Swiss exports, it seemed as though we were about to witness the worst sustained period of decline since the Great Depression of the early 1930s. And, let’s face it, the “it’s a blip” advocates would have had some difficulty explaining that one away. But in March, the Federation of the Swiss Watch Industry (FH) reported that Swiss exports had begun to rise. And then they continued to do so, with the most recently available figures from September presenting the sixth monthly rise of 2017. It’s a small growth of 3.7 percent year-on-year, but executives have began to unclench, and everything somehow seems less gloomy than it did 12 months ago for the imminent future of high horology. Of course, Hong Kong remains the top market, and the city has seen imports grow over 13 percent – a fantastic piece of news to focus on as we shake off the cloud of 2016.
Aside from the numbers, we love that innovation and audacity are being welcomed just as readily as re-invention of the classics at the moment when it comes to what we’re seeing on wrists. There was a slew of important commemorations this year, from the gorgeous 100th-anniversary Cartier Tank models to the Omega Speedmaster 60th Anniversary edition. In a similar vein, moonphases are notably back with a splash – and Rolex has come out with its crown firmly top with the Cellini Moonphase. It’s the first moonphase complication put out by the brand in almost 70 years, and shows that – just like the industry on the whole – you can never be sure when something is about to bounce back with a flourish. We’re just glad it has.