The Eurozone And China’s Economy Are Improving, Pulling The Watch Industry Towards Recovery

In June, the Swiss Watch Industry Federation announced the Swiss watch import and export data in May, showing that Swiss watch exports increased by 9% year-on-year in May, plus a reverse rebound in March ( 7.5%), basically setting the tone for the recovery of the watch industry. From January to May, we are glad to see two very important growth trends. One is that the total export value of Swiss watches and clocks continues to rise, and the other is that the Chinese market has rebounded very strongly. Let us believe that the watch and clock industry Is going out of the trough overall. Next, let us look at the most important driving force for the recovery of the watch industry from various aspects.

Swiss watch exports by material, January-May

   First of all, from the perspective of materials, in this Swiss watch export data statistics, the material is one of the categories, and the material is divided into precious metals, steel, gold-steel, other metals and other materials, the first three are mainly mentioned here. From January to May, we saw that the total export value of precious metal watches has been increasing in value. Although it is in a state of decline year-on-year compared with the same period of the previous year, a strong inflection point appeared in May. 16% year-on-year growth. The same applies to steel models and gold-steel models. At the same time, we also see that although the value of steel watches is much larger than the export value of precious metal watches, the gap has gradually narrowed. This can be understood as that although steel watches are still very popular, gold models are being replaced by the market. Widely accepted.

From January to May, Swiss watch exports increased by material

   In terms of materials, we can generally see a consumption trend, but it can not show the reasons that really promote the recovery of the watch industry, so only a brief summary, next we look at the most important regional factors. We know that Swiss watches and clocks are exported to the world. The economic, political and market conditions in each region are different. It is also the factor that has the greatest influence on the watch and clock industry. Luxury goods groups often formulate relevant market strategies based on regionality. Regional importance.

Statistics of Swiss exports from January to May published by the Swiss Watch Industry Federation

   Data show that China (including Hong Kong) is the largest market for Swiss watch exports. From 2013 to this year, the market adjustment continued for four years, and finally saw a good turning point this year. For well-known reasons, Hong Kong, as a former shopping paradise, has gradually lost its appeal. Even if there is a possibility of recovery today, the total body mass can no longer be compared with the past. The Chinese market has clearly become a must-attend for Swiss watches. After experiencing a continuous wave of store closures from 2013 to 2016, the Chinese market began to recover strongly in October 2016, and has now continued to grow for 8 months. And since March of this year, the growth rate of Swiss watch exports to China has maintained an average year-on-year growth rate of 37%. This increase is quite horrible, and it seems that the new golden age is coming, and even the overall volume is approaching the US market.

Data released by the Swiss Watch Industry Federation

   The US market, as the second largest region for Swiss watch exports, performed mediocrely. Except for March, it was down from the same period last year. The European market is currently performing well. The British market has been growing since the beginning of this year. It has even maintained double-digit growth since March. Although the UK is in the context of Brexit, there have been many terrorist attacks. But still maintained a strong momentum of luxury consumption. In addition, from a negative growth in Italy to a sudden positive growth of 26.7% in May, the amount of Swiss watches exported to Italy soared from less than 90 million Swiss francs to 134 million Swiss francs, an increase exceeding the imagination.

Statistics of Swiss clocks and watches exported to the UK

Euro zone economy improves, boosts luxury consumption

   Halfway through 2017, data shows that the euro area economy is improving. From the currently released employment rate, production data, GDP and other indexes reflecting socio-economic levels, we can see that the euro area economy is recovering. Because Europe has a very good luxury culture, shopping environment, tourism environment and economic stimulus, Europe Become the yearning for the backbone of many luxury consumption. European Central Bank President Draghi once said that “the recovery of the euro area is resilient, and the countries and regions that are recovering are becoming more and more extensive”, “with the support of the European Central Bank’s monetary policy, domestic demand recovery is the main pillar of economic recovery. Globally, The economic outlook is also improving, and downside risks are mitigated. ‘ Reuters said in May that growth in the euro zone was expected to be stable but moderate, which made European economies more attractive for investment. At the same time, the euro has continued to rise against the US dollar and is expected to stay around 1.15 this year. The rise in the value of the euro has brought positive benefits to the prosperity of the European market. All this is based on the stability of European politics. Some people believe that the election of French President by Macron has strengthened the confidence of the euro area.

Since the end of last year, the euro against the dollar has bottomed out

Stable economic development in China drives rebound in demand for autogenic luxury goods
   After four years of “bubble” squeeze, autogenous luxury consumption has finally become a new growth driver. Under a series of policies and regulations, everyone gradually left luxury consumption in the country. Although Europe, Japan, and Hong Kong still have some attractiveness, after the collective price control of luxury goods groups, the price gap between domestic and foreign countries has gradually increased. Shrinking, the price advantage brought by overseas luxury shopping is declining, but the policy risk (60% tax will be paid for entry checks, and the excess will be handled as smuggling), so under comprehensive consideration, the self-use type Luxury goods have some convenience and after-sale advantages when they are purchased in China.

Luxury brands are confident in the Chinese market, investing heavily in continuing to open flagship stores

   The modest growth of the domestic economy has promoted consumption upgrades. At the just-concluded seminar on the economic situation, Premier Li Keqiang showed us some data. From 2013 to the present, the contribution rate of consumption to China’s economy has risen from 47% to 77.2%, indicating that economic structure optimization has achieved results; the added value of the service industry accounts for GDP The proportion is constantly expanding and surpassing ‘half walled rivers and mountains’, which has promoted employment and the birth of new businesses and models; new kinetic energy has supported China’s economy by 30%, thereby transforming and upgrading traditional industries. From these perspectives, China’s economy is currently developing in a stable and good way. In the past few years, the government’s vigorous administration of tax reduction and fee reduction has paved the way for market innovation and prosperity. The Belt and Road Initiative continues to play a strong role. Influence, external investment drives the healthy development of the internal economic environment. Although government data has always been based on good news, the accuracy of the data is also different, and the mainstream European financial institutions have raised the expectations of the Chinese economy, which also indicates that it is a benign economic environment.
Summary: According to data provided by Bain Consulting, under the constant exchange rate calculation, the global luxury goods industry achieved a 4% growth in the first quarter. Both LVMH and Kering also achieved strong growth during the quarter, achieving year-on-year revenue increases of 15% and 31.2%, respectively. The growth of luxury consumption also reflects the improvement of the economy, hoping to return to the glory of the past.

Audemars Piguet Launches Royal Oak Perpetual Calendar Ultra-thin Automatic Watch

Audemars Piguet launched the new Royal Oak Perpetual Calendar Ultra-thin Automatic Watch (model: 26586IP.OO.1240IP.01). A year ago, the brand’s Royal Oak RD # 2 perpetual calendar ultra-thin watch, with certain advantages, won the title of the world’s thinnest perpetual calendar automatic watch.

   The development of RD # 2 took 5 years. The thickness of the finished watch was 6.3 mm (including the case), and the built-in movement was only 2.89 mm thick, 1.42 mm thinner than the brand’s second thinnest caliber cal. 5134.

RD # 2 concept watch released at the Geneva International Watch Salon 2018

RD # 2 watch with guilloché dial

   Most concept watches usually simplify technology when converted to mass-produced models, but the new Royal Oak Perpetual Calendar Ultra-Thin Automatic Watch is the same as the RD # 2 with only a few aesthetic adjustments.

First, the case and bracelet of the RD # 2 watch are entirely made of platinum, while the mass-produced model uses a satin-finished titanium case and bracelet, with a polished platinum bezel and link, which is more suitable for wearing and the price is more pro-friendly. with.

Second, the upper surface of the classic Royal Oak bezel is satin-brushed and beveled, while production models remain intact (both polished).

Third, the dial of the RD # 2 watch is decorated with the iconic guilloché pattern, while the dial of the mass-produced model has been simplified to make it lighter, simpler and more beautiful. The dark blue dial is brushed with vertical satin to make the hour and hour markers more prominent.

Fourth, the day and night display at the 8 o’clock position of the RD # 2 watch dial is a combination of blue and white, and the mass production model uses a single blue design, which is consistent with the dial as a whole.

   The new watch has a diameter of 41 mm and a thickness of only 6.3 mm. It is thinner than the ordinary Royal Oak perpetual calendar watch, all thanks to a newly developed movement-Cal.5133. The Cal.5133 self-winding movement is based on the Cal.2120. The two movements are similar in that they belong to a small number of ultra-thin movements designed with a full swing (compared to a miniature swing), and the swing And ruby ​​roller support.

   The Cal.5133 movement is not only slimmer, but also simplified and improved, and consists of 256 parts. In contrast, the Cal. 5134 movement (that is, a perpetual calendar is added to the Cal. 2120 movement) on a regular Royal Oak perpetual calendar watch. Module) is assembled from 374 parts. Of course, such a significant reduction in thickness means a lateral increase. The Cal.5133 caliber is 32 mm in diameter, while the Cal.5134 caliber is 29 mm in diameter.

   To achieve this extraordinary thinness, Audemars Piguet redesigned the usual three-layer structure of the perpetual calendar movement into a single-layer structure. The brand has developed two advanced and patented innovative designs: the end-of-month calendar cam is incorporated into the date wheel, and the month cam is incorporated into the month wheel.

   The Cal.5133 movement has a frequency of 19,800 vibrations / hour (2.75 Hz). Although extremely thin, it can also provide a 40-hour power reserve.

Audemars Piguet Royal Oak Perpetual Calendar Ultra-Slim Watch
Model: 26586IP.OO.1240IP.01

Diameter: 41 mm
Thickness: 6.3 mm
Material: Titanium case with platinum bezel
Water resistance: 20 meters

Movement: Cal. 5133 self-winding movement
Vibration frequency: 19,800 times / hour (2.75 Hz)
Power reserve: 40 hours

Link: Titanium bracelet with platinum links and titanium AP folding clasp

Release Channel: Audemars Piguet Boutique
Price: 140,000 Swiss francs, equivalent to about RMB 970,000

High-precision ‘rainbow Circle’ Zenith’s New Defy El Primero 21 Rainbow Watch Evaluation

In 2017, Zenith launched the new Defy El Primero 21 movement, which broke the limit and shocked the debut. Zenith launched the first integrated automatic winding column wheel in history half a century ago. Chronograph movement-El Primero movement timing accuracy can reach one tenth of a second, and this time Defy El Primero 21 movement timing accuracy can reach one hundredth of a second, the reliability and Increased accuracy to a whole new level. Today, the ‘Rainbow Circle’ Defy El Primero 21 with Caibao as its highlight makes a wonderful appearance and continues to write extraordinary. Below, let us take a look at this precise timepiece together. (Watch model: 33.9002.9004 / 96.R580)

High-performance movement shows the beauty of precision

  The two Defy El Primero 21 Rainbow limited edition watches launched this time are equipped with 44mm black ceramic and titanium case, this black ceramic with black alligator strap style, with a unique rainbow gemstone design, in addition to With a comfortable black or blue alligator-covered rubber strap, you can choose from 5 colorful strap colors to show the brilliance between your wrists.

Black ceramic case

  The black ceramic case is atmospheric and stable, and the matte texture reflects a low-key and refined charm. The diameter is 44 mm and the thickness is 14.5 mm. The size is very suitable for men’s wrists. The bezel is inlaid with a circle of rainbow gems, 44 VVS-class baguette-cut gems, with a total weight of about 2.46 carats. The rainbow gems currently on the market are Using the same material, the gorgeous colors are refreshing, the lugs and the case are integrated.

  The side timing button adopts the popular square design nowadays, which has a good feel. The crown at 3 o’clock is engraved with the Zenith star logo, and the non-slip texture design makes it easy for the wearer to accurately time.

  The hollow dial design is clever and colorful, showing the movement of the movement perfectly. The power reserve display function is set at 12 o’clock, the small second hand at 9 o’clock, the 30-minute counter at 3 o’clock, and the 6 o’clock. The 60-second chronograph dial is comprehensive and easy to operate. The central hour, minute and chronograph hands, the hour markers and hands are rhodium-plated, and coated with Super-LumiNova®, which is convenient for reading at night.

Black alligator strap

  The watch is equipped with a black rubber strap covered with black alligator leather, which not only guarantees its durability and beauty, but also its titanium double-folding clasp, which highlights the extraordinary texture.

  The bottom of the table is designed with a transparent back so that you can clearly observe the movement of the movement. Equipped with El Primero 9004 self-winding star-speed movement, double-chain structure, the upper left corner of the watch is a chronograph escapement with a vibration frequency of 36,0000 vibrations / hour -50 Hz; the lower left corner of the watch is a watch The escapement has a vibration frequency of 36,000 vibrations per hour-5 Hz. When the timing function is not needed in daily life, only the lower left mechanism operates. It has a 1/100 second countdown timing function. Press the timing button and the central chronograph hand counts at a speed of one revolution per second. It has been certified by the Swiss official observatory inspection agency and has a power reserve of approximately For 50 hours, the waterproof depth is 100 meters.

  After receiving Zenith’s new Defy El Primero 21 RAINBOW limited edition watch, we tested this watch with professional equipment and the error was very small.

  Summary: Zenith brand spokesman Eason said: ‘Sound is audible color, color is visible sound, music records different moments, and each different moment has its own unique color imprint. These momentary unique meanings are also the perfect interpretation of the Defy El Primero 21 Rainbow Limited Edition watch. ‘Defy El Primero 21 can be regarded as a masterpiece in terms of visual, auditory and timing accuracy. Limited edition of only 50 pieces worldwide, the official price of the watch is RMB 175,000.