Swatch Fell 8.3% Over The Same Period Last Year

The pressure on the Swiss Franc to increase substantially and the largest market.

And the continuous deterioration of sales in mainland China, the Swatch Group AG, the world's largest watchmaker, sold 4 billion 102 million in the first half of, compared with the same period last year.

The growth rate to 4 billion 192 million Swiss francs is 4 billion 160 million against the market forecast, and the increase is 3.6% after excluding exchange rate effect. If the euro is settled, the net sales will increase by 18.7%.

For the 761 million Swiss francs, 742 million Swiss francs exceeding the market expectations, but 8.3% lower than the 830 million Swiss Franc last year, the first consecutive two first half decline in ten years, with a decrease of 200 basis points to 18.2%, a 20.2% percentage point for the same period last year.

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Under the bright billboards of MontBlanc, Cartire, Gucci and Burberry, the most prosperous street in Hongkong winds through the Times Square Center.

But in the high-end shopping malls soaring into the clouds, there are no noisy crowds in the empty boutiques.

The salesperson in the Chanel shop greeted the customer outside the shop: "sorry, you have to wait in line."

As she said, she seemed to wave to an imaginary customer.

Usually the weekend shoppers are bustling, but there are only a few people in the shops today.

The peak period of luxury consumption in China has passed, and the stock market plummeted and the RMB depreciated. Coupled with the already slowing economic growth rate and the government's strict crackdown on gifts, a series of factors have affected the purchasing power of Chinese consumers, and the luxury consumption in China has accounted for 1/3 of the world's total.

The slump of Chinese consumers has a direct impact on investors and global luxury brands.

In recent years, the rich Chinese young people seem to have an incomparable enthusiasm for Chanel bags and Hermes scarves. The hot luxury consumer market is in sharp contrast to the cold times square and luxury stores in Hongkong.

According to Bain consulting, in the past ten years, the annual growth rate of luxury consumption in China has exceeded 10%, but last year it dropped by 1% to 18 billion dollars.

In addition to market volatility, the Chinese government has allowed the depreciation of the renminbi and the possibility of further depreciation, which has created a cold sweat in China's luxury consumer market.

"This may be a serious blow," said David Friedman, President of Wealth-X, a luxury intelligence company based in New York.

"This is the last straw of luxury camel, because Chinese consumers have been the main driving force for the development of luxury goods."

"Are Chinese consumers still so important for luxury brands? Absolutely.

But after a few years, will Chinese consumers be the mainstay of these luxury brands' consumption? "

This series of fluctuations shows that the luxury consumer market has an abnormal dependence on Chinese consumers.

According to the Bank Securities Department of Paris, sales of Burberry 1/4 and sales of Prada 1/5 are all from powerful Chinese consumers.

The brand of Swatch group includes Omega, Harry Winston and Balmain, and its sales volume is 35% yuan from mainland China, Hongkong and Macao.