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Bloomberg
Swiss watch exports climbed for a fourth month as growth in higher-end mechanical timepieces made up for a decline in cheaper quartz models.
Shipments rose 3.6 percent to $1.8 billion in July, the Federation of the Swiss Watch Industry said on Tuesday. Exports of watches wholesaling for more than 3,000 francs rose 5.9 percent, offsetting an 18 percent slump in timepieces costing less than 200 francs.
Most of Richemont’s brands, which include Cartier and Jaeger-LeCoultre, have models whose prices exceed $50,000, while Swatch’s collection of monikers includes its $50 namesake plastic timepieces and relatively less expensive labels such as Tissot.