Even The Rich Are Cutting Back – Swiss Watch Exports Continue Collapse Despite Price Cuts
by Tyler Durden
ZeroHedge.com
12/22/2015
You know it’s bad when… Following a dismal October, Swiss watch exports continued to collapse in November. As we noted previously, not only are luxury jet values dropping for the first time since 2009, London mansion prices plunging, San Francisco home sales collapsing, and Sotheby’s laying people off, but, despite desperate major price cuts, Swiss watch exports tumbled 11% YoY (in USD terms), the worst November since 2008.
In Swiss Francs, this is the biggest November plunge in Swiss watches since 2009…
The Rest…HERE
