The Luxury Recalibration

Swiss watchmaking enters a slower phase after the post-pandemic surge.

After record exports in 2023, the Swiss watch industry is adjusting to weaker volumes, shifting demand, and a market increasingly defined by premiumisation rather than expansion.

Luxury is recalibrating. After a post-pandemic surge that lifted revenues across hard and soft luxury alike, the sector has entered a more demanding phase—one where price increa…