Luxury Watchmaker Richard Mille Bucks Downward Watch Industry Trends With Double-Digit Growth
One company is giving the market hope for 2017.
While the luxury watch industry has been taking some serious hits throughout 2016, one watchmaker is continuing to rise and grow above and beyond the competition. As HODINKEE notes, Swiss brand Richard Mille has done quite well this year. In a new feature from Swiss press, Richard Mille reveals its 2016 turnover is up 20% — mostly as a result of “higher average prices.” While the Federation of the Swiss Watch Industry FH published dire reports regarding the industry this past October, Richard Mille’s turnover for 2016 is projected to be around 225 million CHF. In 2016, production has jumped as well: between 3,500 to 3,600 watches are expected to hit the production line this year, compared to the last year’s run of 3,200. In comparison, the watch industry isn’t currently holding out for an upswing in the coming year.
For a full analysis, check out HODINKEE’s piece here.
