Swiss Miffed: Will Watch Prices Rise as Franc Soars?



Swatch Group chairman Nicolas Hayek didn’t mince words when he heard about the Swiss National Bank’s surprise Jan. 15 decision to remove its three-year cap on the franc.The decision is a “tsunami,” he said in a statement, and portends disaster for the watch industry and the “entire country.”If Hayek seems emotional, it may be because the Swiss franc hit a record high after the move, soaring 30 percent against the euro. It has since fallen, but at press time it was still up more than 10 percent against the dollar and the euro compared with Jan. 14.As the franc continues to soar, som
JCK PRO

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).

SUBSCRIBE TO CONTINUE

Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out