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After Becoming the Prime European Market for Swiss Watches, The Italian Watch Market found Hardship in 2016. However Italians’ Enthusiasm for Watches has been Known and Recognized for Decades. Europa Star’s Serge Maillard speaks with Sylvain Rousmant, Partner at Mazars Italy, A Specialized Auditor, on the topic. In 2015 The Italian Watch Market became the Key European Market for Swiss Watches. 2016 was more difficult and The United Kingdom took the first rank again (In the aftermath of Brexit and attractive Currency Conditions), but Italians’ Enthusiasm for Watches has been Known and Recognised for Decades. We speak with Sylvain Rousmant of Mazars Italy, The International and Consulting Group, to understand more.* Italy is Europe’s Second Strongest Market for the Swiss Watch Industry, behind the United Kingdom, but ahead of Germany and France, Despite the fact that the Country has a smaller population. How can you explain this strength? The Trend of Luxury and Style is the det...

Market research analyst predicts the global watch market to grow steadily at a CAGR of around 8% by 2021. One of the key factors responsible for the growth of this segment is the rise in the demand for Swiss-made luxury watches. This growth in demand is attributed to the superior quality, enhanced design and craftsmanship, and technological sophistication of Swiss-made watches. Also, the rapidly growing economies and rising disposable incomes, especially in developing countries, have given better purchasing power to the consumer and are largely responsible for the shift in demand for Swiss-made luxury watches in developing countries. For instance, Piaget’s sales grew slightly even during the economic crisis owing to the growing demand for luxury watches in countries such as India, Russia, and China. Moreover, increasing brand awareness, growing western influences, and the inherent need for exclusivity will propel the growth of the global watch market during the forecast period....