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Swiss watchmakers brace for slowing Chinese demand

Reuters  |  GENEVA 

By Silke Koltrowitz and Sarah WhiteGENEVA (Reuters) - Swiss watchmakers are starting to see signs of slowing spending from Chinese tourists, but are still banking on demand shifting to mainland China to fuel growth this year, several high-end brands said on Monday.Investors are on edge over a softening economic backdrop in China, and weak Chinese trade data on Monday sent shares in luxury goods companies that rely heavily on Chinese customers tumbling.Some brands like Parmigiani, owned by the Sandoz Family Foundation and which makes around 3,000 pieces a year, with average prices at 35,000 ...

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First Published: Tue, January 15 2019. 00:28 IST