⏱ 1 min 30 read
Background
Between January and September 2026, the value of Swiss watch exports rose by 2.7%, according to the Federation of the Swiss Watch Industry. This growth is driven by very high-end brands. Yet professionals report major difficulties for many other brands.
The key points
In Blick on 30 October 2026, several industry players want to “break the omertà”. Valais jeweller Patrick Saegesser mentions 100 jobs under threat at Zenith, more than half its workforce. He also cites cuts at Breitling, Chopard and Montblanc.
For ten years, only watches priced above 3,000 francs have grown, notably at Rolex, Patek Philippe, Audemars Piguet and Richard Mille. Sales of watches under 200 francs fell from 20 to 10 million pieces. The average price of an exported watch has more than doubled, from around 720 to more than 1,670 francs.
The subcontractors in the Jura are also suffering: empty order books and idle machines, according to Patrick Saegesser. Chinese demand is weakening.
Key figures
- +2,7 % : watch exports from January to September 2026
- 11 billion francs : Rolex's estimated revenue in 2025
- 6.3 billion francs : revenue of the Swatch Group's 16 brands
- 4 million : Swatch watches sold today, compared with 15 million 20 years ago
- 100 : jobs under threat at Zenith
What it means for businesses
- Mid-range brands : few are doing well, such as Longines between 1,500 and 3,500 francs.
- Subcontractors and workshops : falling orders and short-time working at some distributors.
- Rolex : the brand supports many subcontractors and retailers.
Who says what
- Patrick Saegesser (jeweller in Crans-Montana): the reality on the ground is “far more brutal”.
- Nicolas Rossé (watch industry consultant): you cannot keep factories running with a few luxury watches.
- Oliver R. Müller (founder of LuxeConsult): pre-Covid Chinese demand will not return.
Analysis
- According to Nicolas Rossé : segments below 500 francs have collapsed in the face of smartphones, smartwatches and Japanese brands.
Further reading
Sources
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