According to the watch press, this year’s Baselworld in Switzerland was a graveyard. “The Baselworld show, ended March 30, was grim,” said Joe Thompson in Watchtime Magazine, an enthusiast publication. In short, a once might industry is contracting at an alarming rate.
A further harbinger of death is far simpler to understand. Swiss exports have fallen for the third year in a row. This hasn’t happened since 1930, in the depths of the Depression.
“I spoke with dozens of watch executives and retailers: the consensus view is that the industry is ailing,” wrote Thompson.
Experts attribute the fall to a few factors. First, American imports have fallen 28% as more and more people abandon watches or settle on Apple Watches. Overproduction and overpricing are…