Swiss watch CEOs From Patek Philippe to Oris see slowdown after boom

The comments mark an early indication that the luxury watch sector may be cooling after demand and Swiss exports surged to record levels close to 25 billion Swiss francs (€25.3bn) during the pandemic.

Rose gold watch set with diamonds, from the The Patek Philippe Collection.

The heads of some of the biggest Swiss watch brands, from Patek Philippe to Oris, said demand for luxury timepieces is starting to slow from an unprecedented industry boom during the pandemic.

“I see in the past two months, the market is a little bit slower than before,” said Thierry Stern, the chairman and controlling shareholder of Patek Philippe, the family-owned Geneva-based brand.