Swiss watches sales to China have fallen by almost 30 percent in recent months. The drop in Swiss watch sales reflects the general slowdown in China's economic growth this year. At the same time there's been a growing backlash against perceived conspicuous consumption government officials. In July replica chronoklassik chronograph watches the Chinese government banned officials from sing public funds to buy luxury goods. Some Swiss watch industry veterans are unconcerned.
"If there's one thing we have learned about the Chinese it is that they want exclusivity " said Philippe Stern the former president of Patek Philippe and the current president's father who ran the Swiss company for 45 years.
"They do not want mass-market luxury replica vacheron constantin watches " he told the Wall Street Journal in a recent interview.
In fact the 173-year-old watch icon is creating a watch-repair school in Shanghai where it will train local Chinese in the art of luxury-watch repair to meet Chinese demand.
Overall mainland China accounts for 8.5% of all Swiss watch sales. If you add Hong King franck muller cintree curvex replica watches the most popular market for Swiss watches that figure rises to 29.5%.
We will continue to follow this developing story.
Photo credits: Reuters