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Another key launch was the Chanel J12 Bleu in deep blue matte ceramic, marking the first time Chanel has released a new colourway since 2003. “The slowdown didn’t start yesterday,” said Frédéric Grangié, president of watches and fine jewellery at Chanel. “We saw it last year, and we didn’t say to ourselves a year ago, ‘Things are starting to slow down, we’re going to put the brakes on Watches and Wonders 2025.’ In fact, it’s the opposite.” The executive stressed the cyclical nature of the watches industry: “I do think that watchmaking is one of those industries that has always experienced cycles, rather sharp cycles.” It’s rare for a fashion house to compete with Swiss watchmakers in the credibility stakes. Frédéric Grangié, president of watches and fine jewellery at Chanel, shares the strategy.Wheeling Pittsburgh Steel Corp Follansbee Wv Shirt
But to continue on the rain metaphor, when it rains, it pours. The watch market continues to be severely impacted by the decreased consumer confidence in China, with Swiss watch exports down 8.2 per cent in February and a 25 per cent drop in exports to China, according to the Federation of the Swiss Watch Industry. And the US is no longer the bright spot, as exports were down 6.7 per cent in February. On 2 April (day two of Watches and Wonders) came the crushing blow: US President Donald Trump announced tariffs of 31 per cent on Swiss imports. “That’s worse than feared for Swiss watches,” wrote Citi managing director Thomas Chauvet. “It’s a disaster, because it’s bound to slow sales in the only market that was pulling ahead,” said Oliver Müller, consultant and co-writer of Morgan Stanley’s annual report on the state of the Swiss watch industry.
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