ZURICH (Reuters) - The head of LVMH's watch business Jean-Claude Biver is positive about the prospects for the Swiss watch industry in 2017, he tells Schweiz am Sonntag in an interview.
"I am convinced that the New Year will bring growth to our industry," Biver said in the article published on Sunday.
"Exports will recover and rise again," he says, saying the an improvement was already underway although it was not evident everywhere.
The Swiss watch industry had a tough 2016, with exports falling 10 percent to 17.74 billion francs in the first 11 months of the year, according to the Federation of the Swiss Watch Industry, as sales in key markets like Hong Kong fell.
Biver said he was optimistic for LVMH's watch brands, which include Hublot, TAG Heuer and Zenith.
"I see a better year for the LVMH watch division, although in 2016 we could still achieve overall growth of four percent."
(Reporting by John Revill. Editing by Jane Merriman)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app