The bling is back, but the war in the Persian Gulf has tarnished the outlook for the luxury watch industry – the ultimate in bling.
Starting Tuesday, Geneva hosts the annual “Watches and Wonders” fair, a premiere gathering in an industry eager for a rebound after two years of market contraction, hopefully including sales in oil-rich Gulf Arab countries.
The US and Israeli war against Iran that began February 28, however, has had a sweeping impact on the global economy: Driving up energy prices, stalling shipments of fertiliser, disrupting air travel, among other things. High-end watches have not been spared.
Soaring prices for precious metals like gold and silver over the last year and US President Donald Trump’s Liberation Day tariffs launched a year ago – while down from peak levels – already affected the market.
Now, renewed inflation pressures and doubts about consumer confidence are throwing new uncertainty into the market that generates tens of billions of dollars in revenue​The bling is back, but the war in the Persian Gulf has tarnished the outlook for the luxury watch industry – the ultimate in bling.
Starting Tuesday, Geneva hosts the annual “Watches and Wonders” fair, a premiere gathering in an industry eager for a rebound after two years of market contraction, hopefully including sales in oil-rich Gulf Arab countries.
The US and Israeli war against Iran that began February 28, however, has had a sweeping impact on the global economy: Driving up energy prices, stalling shipments of fertiliser, disrupting air travel, among other things. High-end watches have not been spared.
Soaring prices for precious metals like gold and silver over the last year and US President Donald Trump’s Liberation Day tariffs launched a year ago – while down from peak levels – already affected the market.
Now, renewed inflation pressures and doubts about consumer confidence are throwing new uncertainty into the market that generates tens of billions of dollars in revenue ​Latest News [ SOBAN NEWS: International and National ]
