Soaring gold prices test mettle of luxury watch brands

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Financial Times 1d ago

Soaring gold prices test mettle of luxury watch brands - Financial Times

Quick Summary:

According to the Federation of the Swiss Watch Industry, last year watches made in precious metals, including materials such as platinum, accounted for almost 40 per cent of total Swiss watch exports by value but only 2.7 per cent by volume.

Meylan forecasts some significant material shifts.“White gold will die because steel is cheaper and more fashionable, while we may have to replace gold with materials such as palladium and tantalum,” he says.“In time, gold watches may become as expensive as platinum watches as scarcity increases.

While some makers have said they will reduce volumes of gold watches, Seddiqi says he expects brands will fulfil his orders.“We remain certain that the supply will remain consistent based on the demand for watches,” he says.“Currently, we have a regular influx of watches with regular shipments being fulfilled.