Reply With QuoteNot something you normally see UK beating US, Hong Kong and China importing luxury Swiss goods, it can’t all be Toblerones!
Brexit Stockpiling Skews Swiss Watch Export Growth
Shipments to the UK soared in Q1, but were so-so elsewhere.
https://www.hodinkee.com/articles/br...-export-growth
"There are eight brands that make up 80% of the market," he says, exaggerating slightly. (Morgan Stanley puts the number at 18.) "And 300 brands fight for the rest." [quote]
Not something you normally see UK beating US, Hong Kong and China importing luxury Swiss goods, it can’t all be Toblerones!
Nice to see you here again John.
Sent from my iPhone using Tapatalk
The spike in exports was caused by Brexit related dealer stockpiling, rather than actual sales to customers. With inventory already high that presumably will not repeat again in October. It should also mean a dip in exports post-Brexit, as stocks are brought back down again.
Given the dearth of Rolex model availability, presumably we didn't get many more of those! :-)
So do you guys think Brexit will relieve or compound the current Rolex shortage? Interesting article, thanks for posting.
100% compound. Wouldn't be surprised if we get another UK price increase either.Originally Posted by Uglybug
Switzerland is not in the EU so why should BREXIT have any impact at all ?
It's not just watches, many segments are worried about customs delays amid the 'Brexit chaos' we're assured of. The best way around that is to have higher stocks already in the UK.
My own company did that on any key material we could through Jan-Feb, and will now carry those higher stocks through to October to see what happens.
That applied even to material coming from China, Japan, US etc. The problem is not so much with EU, but just with customs capacity in the case that EU traffic has to transit customs on top of all the ROW material that already has to go through.
Thanks. I've been pottering around for a few months now. Just testing the water.Nice to see you here again John.
The article failed to mention the recent fall of the pound, which is likely to be just as (if not more) significant - the UK is currently one of the cheapest places to buy watches. This has been reflected in the classic car market too, and probably others that I’m less familiar with.
Sent from my iPhone using Tapatalk
Because the EU has a trading agreement with Switzerland and many other non-EU countries too.
Once UK leaves the EU, then the UK will no longer have the benefit of any of those trading agreements.
At that moment, watches will be the least of our worries.
Posting Permissions
