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By the end of 2019, eight watch brands had sold watches worth over $1 billion in a calendar year, according to an annual report...
Turnover for Rolex dropped by 14% to CHF 4.42 billion, according to a Morgan Stanley research paper on the Swiss watch industry in 2020, but outperformed the rest of the Swiss watchmaking sector.
Geneva analyst says he is already aware of a dozen companies filing for bankruptcy, and that figure could increase five-fold.
Switzerland's most successful watchmaking brands entered 2020 in good health, with the majority notching a rise in sales last year.