Luxury watchmakers plan for Brexit, cope with French protests

Luxury watchmakers have joined the list of businesses implementing Brexit contingency plans by stockpiling inventory in Britain before it leaves the EU, industry leaders said.

Brands are seeking to guard against “practical problems” that may emerge, including new customs procedures or import backlogs following Brexit, the head of the Federation of the Swiss Watch Industry, Jean-Daniel Pasche, told the news agency  at the Baselworld watch fair, which wrapped up this week.

Statistics released by the federation this month showed that imports to Britain were up 58 percent in February, on top of a 24 per cent increase in January.

Oris, a luxury watchmaker that opened a store in London’s Mayfair area last year, said it does not normally keep inventory in Britain, preferring to ship pieces to retailers to fill specific orders.

But Oris chief executive Rolf Studer said the company had boosted its British stocks.

“Nobody really knows what will happen, so we took precautions,” he told the news agency.

 

Luxury watchmakers plan for Brexit, cope with French protests

Luxury watchmakers have joined the list of businesses implementing Brexit contingency plans by stockpiling inventory in Britain before it leaves the EU, industry leaders said. Brands are seeking to guard against practical problems that may emerge, including new customs procedures or import backlogs following Brexit, the head of the Federation of the Swiss Watch Industry, Jean-Daniel Pasche, told the news agency at the Baselworld watch fair, which wrapped up this week. Statistics released by the federation this month showed that imports to Britain were up 58 percent in February, on top of a 24 per cent increase in January. Oris, a luxury watchmaker that opened a store in Londons Mayfair area last year, said it does not normally keep inventory in Britain, preferring to ship pieces to retailers to fill specific orders. But Oris chief executive Rolf Studer said the company had boosted its British stocks. Nobody really knows what will happen, so we took precautions, he told the news agency.