Swiss Watches Manufacturers Dominate the Market
Luxury timepieces made in Switzerland are popular among purchasers. According to the Swiss Watch Industry Federation, about 37 million fake watches are produced annually, outnumbering authentic Swiss watches. Counterfeit watches make annual revenue of CHF1 billion, equal to 6% of overall watch sales.
The Most Well-Known Watch Brand
Rolex is among the world's largest Luxury Watches Manufacturer. They also manufacture luxury jewelry. The company sells around 2000 watches every day in Switzerland and around the globe. For almost a century, the company has had a long history of developing successful and unique watch designs.
Rolex is a worldwide luxury watch brand. Headquartered in Geneva, Rolex is not publicly traded. As a result, the brand can exercise complete control over its message, independent of the standards and openness required by shareholders.
Swiss Watchmakers Provide a Negotiable Price
Swiss watchmaker accounts for around 1.5% of Gross Domestic Product (GDP). The Swiss watch industry is currently the third largest sector after the pharmaceutical and machine tool sector. Therefore, you will see a lot of competition in the market, and you can get a negotiable price for different luxury brands.
Swiss Watch Industry Has a Glorious Past
Swiss timepieces were advanced in recent years due to affordable mass-market models like the Swatch. Demand for premium models soared in the 2000s, particularly in emerging markets. So, every swiss watch factory has accelerated the manufacturing process.
The watchmaking business exported watches and components worth CHF22 billion in 2014, nearly doubling the value recorded 15 years earlier. Moreover, the industry employed 60,000 people. However, the industry has experienced a new slump over the last three or four years, owing primarily to issues in Asia.
Swiss Watchmakers Contribute Modestly to The Economy
Swiss watchmaking accounts for around 1.5% of Gross Domestic Product (GDP). It is Switzerland's third-largest export sector, after pharmaceutical and chemical products and machine tools.
The cantons of Neuchatel, Bern, Geneva, Solothurn, Jura, and Vaud are primarily known for their watchmaking industries. They together account for more than 90% of the sector's added value.
The watch industry employs 58,000 people in these regions through 500 enterprises. With occupations that are indirectly related to the industry, the number jumps to about 100,000.
Conclusion: Swiss Watch Factory dominates the watch market of the world. Swiss watches are luxury watches, and they are very famous across the globe. For example, Rolex is a renowned brand in Switzerland. Rolex has a long history, and they sell 2000 luxury watches every day in the world. Every Swiss watch factory has a significant contribution to the economy.