Watches See a ‘Brexit’ Boom

Watches with British & Commonwealth roots

Watches See a ‘Brexit’ Boom

Postby koimaster » November 7th 2016, 12:22pm

LONDON — The effect on the value of the pound of Britain’s vote to leave the European Union has rarely been out of the headlines since the June 23 referendum. But while the markets panicked — an estimated $2 trillion was wiped off world markets the day after the vote — the decline of the currency has proved a boon for Britain’s luxury watch retailers.

With watches priced in pounds — particularly those at the high end — suddenly much more attractive to the international market, customers from all over the world have been buying in Britain.

London has felt the biggest “Brexit” boom. According to the global market research company GfK, sales of watches priced at more than 10,000 pounds, or about $12,320, were up 67 percent in the British capital in September, compared with the same period last year. And the figure was almost as high outside London, up 56 percent.

The Federation of the Swiss Watch Industry reported that exports to Britain were up 32.4 percent year over year in September, making the country the world’s fourth-largest importer of Swiss watches. In 2015, it was eighth. ... =0&referer


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Re: Watches See a ‘Brexit’ Boom

Postby conjurer » November 7th 2016, 1:40pm

I'm relieved to see that rich people are able to buy £10,000 watches again.
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Re: Watches See a ‘Brexit’ Boom

Postby Hawk » November 7th 2016, 2:04pm

67% is just too recognizable of a percentage increase.

Bremont probably sold 5 Wright Flyers rather than 3.
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