The Swiss watch industry has shown promising signs of revival, with exports demonstrating robust growth in June 2026. After a period of contraction in 2024 and 2025, the sector recorded an 11.2% increase in exports, reaching nearly 2.4 billion francs. This upward trajectory follows similar positive reports from major luxury groups like Swatch Group and Richemont, indicating a broader market recovery. While the first quarter of 2026 saw only modest growth, the subsequent months of May and June have painted a more optimistic picture, potentially fueled by the release of new models at Watches & Wonders 2026 and their subsequent delivery to global retailers.
This renewed vigor is evident across various segments of the industry. All material categories contributed to the export value increase, with precious metal watches, steel watches, and notably, bimetallic models, showing substantial growth. The rise in bimetallic watch exports, particularly a remarkable 42.1% surge, is partly attributed to the high price of gold, which has elevated the unit price of these timepieces. Volume-wise, steel watches and those made from 'other materials' such as ceramic and titanium also saw significant increases, suggesting a broad-based recovery. Geographically, the United States maintained its position as the primary export market, followed surprisingly by France, which witnessed an extraordinary 103% growth, though the FHS cautions that this figure may not fully reflect actual demand. The growing demand for high-end watches is further underscored by the strong performance of price segments above 3,000 francs and between 200 and 500 francs.
Accelerated Growth in Swiss Watch Exports
Swiss watch exports experienced a notable upturn in June 2026, registering an 11.2% increase, pushing the total value to approximately 2.4 billion Swiss francs. This marks a consecutive month of strong recovery for the industry, following two years of continuous decline. The positive trend aligns with earlier reports from prominent luxury conglomerates, indicating a broader resurgence within the watchmaking sector. This growth is a welcome development, as the industry had faced uncertainties throughout the early part of 2026, with the first quarter showing only marginal improvement. The current surge suggests that the efforts of watch manufacturers, particularly after events like Watches & Wonders 2026, are beginning to yield substantial results.
The Federation of the Swiss Watch Industry (FHS) reported that this substantial growth encompassed all product categories by value. Precious metal watches saw a 2.9% increase, while steel watches grew by 5.0%. Most impressively, bimetallic models experienced a remarkable 42.1% leap in exports. This significant jump in bimetallic watches is partly linked to the current high price of gold, which has driven up the unit cost of these products. In terms of volume, the trend was equally positive, with steel watches showing a 7.0% increase and watches made from 'other materials' (including ceramic and titanium) surging by 21.9%. These figures indicate a diverse and robust recovery across different segments of the Swiss watch market, moving beyond just premium materials to include more accessible and innovative options.
Market Dynamics and Price Segment Performance
The latest FHS report highlights key market dynamics, with the United States remaining the leading export destination for Swiss watches, recording CHF 349 million in June and a 12.7% growth. Surprisingly, France emerged as the second-largest market, exhibiting an exceptional 103% increase, though the FHS notes that this figure might not entirely represent actual demand. Other significant markets like the UK, Japan, Hong Kong, and Singapore were also mentioned, while China was conspicuously absent from the top six. This geographical distribution of growth underscores the diverse global appeal of Swiss timepieces and the varying recovery rates in different regions, potentially influenced by regional economic conditions and consumer preferences.
An analysis of price segments reveals further insights into the industry's health. While watches with an export price between 500 and 3,000 francs remained stable, all other price categories demonstrated growth. The segment of watches priced between 200 and 500 francs saw a substantial 54% increase, indicating a strong demand for mid-range products. Even more significantly, watches priced over 3,000 francs continued their upward trend, confirming the sustained and growing demand for high-end luxury timepieces. These trends collectively point towards a healthy and diversified market recovery, with consumers showing interest across various price points, particularly in the premium and entry-luxury segments, reinforcing the overall positive outlook for the Swiss watch industry.