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News

  1. WJA Foundation Launches New Scholarship for Women of Colour
  2. Blue Nile Merges with Mudrick for Its Second IPO
  3. RJC Launches ‘Gender Equality Toolkit’ at JCK Las Vegas
  4. GIA Reports to Go Digital by 2025
  5. Gemfields Achieved Highest Revenue at Emerald Auction
  6. DAMAC Group Now Owns de GRISOGONO
  7. GJEPC Proposes Lab-Grown Diamond Park in India
  8. Pandora’s New Crafting Facility in Vietnam Costs $100M
  9. Q1 Gold Jewellery Demand Soft, Says WGC
  10. Jewellery Buying Groups Formed New Global Alliance
  11. Singapore to Host Jewellery & Gem World 2022
  12. ‘Wonder Woman’ Gal Gadot Premiered in Tiffany’s 2022 High Jewellery Collection
  13. Christie’s to Auction ‘The Light of Africa’ for $18M in June
  14. New Board of Directors were elected to Jewellery Exporters Association of Turkey
  15. Oroarezzo back with Première Competition
  16. ‘De Beers Blue’ auctions US$57.5M at Sotheby’s
  17. CTF launches Mother’s Day collection
  18. Jewelers of America Announces The 2022 CASE Award Winners
  19. De Beers: Diamond Businesses Staying Cautious About Business Expectations
  20. Synthetic Alexandrite Pioneer David Patterson Dies at 89
  21. 205 CARAT FANCY INTENSE YELLOW DIAMOND GENEVA MAGNIFICENT JEWELS | 11 MAY 2022
  22. Rebecca Foerster Appointed As President of Hearts On Fire
  23. US Steps Up Sanctions Against Alrosa
  24. PGI Study Findings: Consumers Have Different Interpretations of Sustainability
  25. Irving Wong Appointed as Pandora’s General Manager For China
  26. Rolex’s 6 New Watches Unveiled at Watches & Wonders Geneva
  27. Sixième Sens par Cartier High Jewellery: Heteractis Ring
  28. Will Russian Diamond Ban Help Foster Lab-Grown Diamond Business?
  29. Press Release: Ariana DeBose, Hunter Schafer and Zoey Deutch Shine in De Beers Jewellers at the Vani
  30. Press Release: Ariana DeBose, Hunter Schafer and Zoey Deutch Shine in De Beers Jewellers at the Vani
  31. JEWELLERY GENEVA Takes Place between 30 March and 3 April 2022
  32. Christie’s Presents 228 carat White Dimond
  33. Gold Bar Integrity Programme to be Implemented
  34. Press Release: BONHAMS ANNOUNCES ACQUISITION OF BRUUN RASMUSSEN AUCTIONEERS – DENMARK’S LEADING AUCT
  35. Early Spring Fashion for Natural Diamonds
  36. Jennifer Garner Shines in De Beers Jewellers at the Premiere in New York
  37. To celebrate its 15th anniversary, “Cartier Women’s Initiative Impact Report”
  38. American Gem Trade Association Announces Partnership with JCK Show Again
  39. Chow Tai Fook and Canada's Mountain Province Diamonds Sign Supply Agreement
  40. Registration Is Open for 2022 JCK Show
  41. Alrosa Caught Up in U.S. Sanctions
  42. Tawhid Abdullah Receives Lifetime Achievement Award
  43. The Largest Blue Diamond Appears at Sotheby’s Auction
  44. Price Rise for Nearly 90% Of Fancy Colour Last Year
  45. Dickson Yewn’s Collectibles Given for Sotheby’s Charity Auction
  46. De Beers Boosts Production
  47. Watches & Wonders Geneva To Be Held In Hybrid Format
  48. Jewellery, Gem & Technology Dubai to Debut February
  49. Hong Kong Losing its Dominance as the World's Largest Watch Market
  50. Gift Guide for CNY
  51. Press Release: Sotheby’s Announces New Appointments To Luxury Team In ASsia
  52. Georg Jensen Becomes a Certified Member of RJC
  53. 555.55-carat Black Dimond Unveiled at Sotheby’s Auction
  54. GIA Appoints Anna Martin as SVP for Institute, Industry Relations
  55. Alrosa Boosts Direct Sales of Fancy Diamonds to Investors
  56. CIBJO General Assembly postponed to March 17 and 18, 2022
  57. 7,525 Carat Emerald Discovered
  58. Karl Lagerfeld Jewellery Collections to Shine
  59. Diamonds Travel To The Space
  60. Vicenzaoro January postponed to March
  61. America’s Youngest Jeweller Starts Business via Instagram
  62. Concerns over conflict gold arise again
  63. The 1st International Gemstone & Diamond Trade Summit Wraps Up in Macao
  64. The Knot’s Study:Over 30% of Respondents Say Natural Diamond Unimportant
  65. Pantone’s 2022 Colour of the Year: Very Peri
  66. Phillips Jewellery Auctions Fetch over HK$181 Million
  67. The World’s First Pure Gold Castle of Magical Dreams by CHOW TAI FOOK
  68. Jewellery Sales Jumped 78% During the Thanksgiving Holiday
  69. Gem Auctions DMCC’s Debut Auction Successful
  70. Cartier’s Christmas Tree Lights Up the City with Love and Hope
  71. Rediscovering Lacloche in Hong Kong
  72. Blue diamonds to lead Christie’s HK autumn sale
  73. JMA show to stage next Thursday
  74. HK auction to help Cambodian kids
  75. Basel fair cancelled again
  76. HKDI show to continue in Dec
  77. Gemfields sells 7,500-carat emerald for good
  78. Sustainability is key to diamond purchases, a report says
  79. Christie’s Geneva jewellery sale fetches CHF53.7m
  80. Cibjo forms working group on fei cui standards
  81. Only Watch raises CHF30m for DMD research
Read More...


HIGHLIGHT

  1. US market unfolds changes and potential
  2. The queen of gems, the gem of queens
  3. Classics return

Advertisement

Hong Kong Losing its Dominance as the World's Largest Watch Market

According to a monthly analysis released by the Federation of the Swiss Watch Industry (FH) last December, Switzerland’s watch exports to Hong Kong have dropped to single digit, down 50% compared with the figures 10 years ago.  Hong Kong is losing and also unlikely to regain its position as the largest foreign market for Swiss watches. 

 

Currently, the first three watch markets in sequence are the U.S., China and Hong Kong. “The United States (+44.2% compared with 2019) was the leading market last month as it was throughout the year, and recorded one of the highest increases in December. Growth in China (+9.1%) slowed, mainly due to a negative base effect, but remained strong. The recovery in Hong Kong (-15.5%) continued very timidly, however watch exports there again fell significantly for the third year running,”the monthly analysis concludes. 

 

In a news report “Hong Kong's Global Watch Dominance Comes to an End” by the New York Times last September, it says that the social unrest in 2019 and also border closures due to Covid-19 pandemic over the last 2 years caused an impact on tourist arrivals, Hong Kong ‘s watch and jewellery sales declined by half between 2018 and 2021. Hong Kong had the highest 20.4% market share in 2012, down to 9.6% last year, becoming the third largest export destination of Swiss watches and clocks.   

 

Main Markets for Swiss watch exports (market share): 

  1. USA (14.5%)
  2. China (12.1%)
  3. Hong Kong (9.6%)
  4. Singapore (5.8%)
  5. United Kingdom (5.5%)
  6. Japan (5.4%)

 

Main markets

Markets Mil. of CHF Change/2019 Share
USA 276.6 +44.2% 14.5%
China 230.5 +9.1% 12.1%
Hong Kong 183.7 -15.5% 9.6%
Singapore 111.7 +6.5% 5.8%
United Kingdom 104.3 +13.5% 5.5%
Japan 103.2 -2.8% 5.4%
Total 6 markets 1,010.1 +9.4% 52.9%

Source: Federation of the Swiss Watch Industry

 

31/1/2022

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