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Our special report in China

EDITORIAL

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October 2019


Our special report in China

What explains the country’s “watch fever” over the last two decades? In our new issue’s feature on China, we attempt to provide keys to understanding the main upheavals affecting the nation of 5G hyper-consumerism, and their significance for the watch industry.
Read our 40 page China report in Europa Star Chapter 4/19.
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s we wrote in 1992, facing US recession and European stagnation, “a real Chinese might is emerging that is supposed to thwart both Japanese power and non-Chinese Asian ‘tigers’ (Thailand, Korea, Philippines and Vietnam)”.

The statement has been confirmed today, particularly as far as the watch industry is concerned. Swiss watchmakers have benefited fully from the opening of the Chinese market since the country’s accession to the WTO in 2001 – to the point of being among the luxury segments that are most dependent on Chinese consumers’ purchases. Even export figures to France, the United Kingdom, Japan or the United States include a significant proportion of final sales to Chinese visitors.

In our new issue’s feature on China, we attempt to provide keys to understanding the main upheavals affecting the nation of 5G hyper-consumerism, and their significance for the watch industry.

Our special report in China

What explains the country’s “watch fever” over the last two decades? In our new issue’s feature on China, we attempt to provide keys to understanding the main upheavals affecting the nation of 5G hyper-consumerism, and their significance for the watch industry.

An article in Europa Star in 1992: this statement has been confirmed today, particularly as far as the watch industry is concerned.
An article in Europa Star in 1992: this statement has been confirmed today, particularly as far as the watch industry is concerned.

As we saw between 2014 and 2017, when China sneezes, the Swiss watch industry catches a cold. Just as exports were returning to Hong Kong, the recent political unrest, which is casting doubt over the sustainability of the “one country, two systems” concept, is weakening the duty-free watch hub. And in mainland China, just as Swiss watchmakers were beginning to adapt to the new “post-gifting” situation, a trade dispute with the United States is casting its own dark shadows.

Watch purchases are increasingly repatriated on domestic soil. The future of the industry will depend on whatever happens there.

Among the various articles of this report, we were also given exclusive access to the main company fighting counterfeiting in the country, and were able to follow in their tracks as they hunted down fake watches. Today, China is the world’s largest producer of both authentic and fake watches, as well as the biggest consumer of Swiss luxury watches. Watch purchases are increasingly repatriated on domestic soil. The future of the industry will depend on whatever happens there.

Read our China report in our latest Europa Star issue & Explore over 60,000 pages of watch history, models and markets from 1959 to 2019 in our e-library.
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