1.
What
do
you
believe
are
the
greatest
challenges
facing
the
sector
or
industry
you
would
like
to
specialize
in
at
IE?
What role do
youhopetobe able toplayin
thesector or industryin
the medium
term?
LUCA
ORDUÑA

2.
Brand
Management
At
IE
Business
school,
I
would
like
to
specialize
on
Brand
Management
with
a
focus
on
the
luxury
industry
in
Asia.
I
believe
the
Swiss
watch
industry
to
be
a
very
good
example
as
virtually
no
other
sector
is
so
focused
on
exports
and
reliant
on
achieving
success
in
an
international
environment.
Furthermore,
I
am
personally
involved
in
the
watch
business.
Over
the
last
two
years
I
was
involved
in
setting
up
a
distribution
company
for
timepieces
over
Asia,
with
currently
subsidiaries
in
Japan,
HongKong and
Taiwan.
In
those
territories
we
support
watch
brands
entering
the
market
and
help
establishing
the
brand.
I
hope
that
in
the
future
the
company
can
become
an
important
player
in
the
region
and
further
expand
to
other
Asian
regions
like
Mainland
China,
South
Korea,
India
etc.
In
the
long
run
I
would
like
to
become
an
expert
for
consumer
goods
especially
for
luxury
and
lifestyle
products
across
Asia
pacific
with
an
understanding
of
how
to
build
a
brand,
using
the
right
channels
and
offering
services
and
consulting.
Luxury
Industry
Swiss
Watch
Industry
Asia

3.
The
Swiss
Watch
Industry:
Brand
management
with
a
focus
on
Asia
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

4.
KEY
FACTS:
Switzerland
with
quasi-­‐monopoly
in
high-­‐end
watches
• Switzerland
produces
only
around
2.5%
of
the
global
production
of
watches
(units)
but
it
is
by
far
the
leading
exporter
of
watches
in
value
terms.
• Switzerland
has
a
near
monopoly
situation
in
the
luxury
watch
segment
(mechanical
watches).
• 95%
of
the
watches
produced
in
Switzerland
are
exported.
• Pronounced
almost
dead
in
1970
and
threatened
by
the
Quartz
watches
from
Japan,
the
Swiss
watch
industry
made
an
impressive
rebound
thanks
to
a
refocus
on
high-­‐end
watches
and
a
global
boom
for
luxury
goods.
• A
handful
major
conglomerates
dominate
the
watch
industry
:
Swatch
Group
(brands
include
Swatch,
Omega,
Harry
Winston,
and
Tissot),
Richemont (Montblanc,
Piaget,
Cartier),
LVMH
(Tag
Heuer,
Hublot,
Zenith)
and
Rolex
(Rolex
and
Tudor).
• The
“Swiss
Made”
label,
the
key
reference
in
the
watch
industry,
can
only
be
obtained
if
the
watch
is
assembled
and
inspected
in
Switzerland,
with
at
least
60%
of
the
parts
produced
in
Switzerland.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

5.
KEY
FACTS:
Asia
is
the
most
important
region
Exports
of
Swiss
wristwatches
reached
a
new
record
in
2014
of
CHF
21
billion
CHF,
making
Switzerland
the
country
with
the
highest
export
value
of
watches.
From
2000
to
2014
the
Swiss
watch
industry
grew
by
38%.
Looking
at
the
numbers
over
25
years,
the
growth
is
even
more
impressive:
Watch
sale
more
than
quadrupled.
Despite
this
impressive
growth,
the
quantity
(Number
of
watches)
exported
is
smaller
than
it
was
in
1988.
This
can
only
mean
one
thing:
The
average
export
price
must
have
increased
significantly.
In
2000
the
average
price
was
310
CHF
compared
to
730
CHF
in
2014.
With
11.8
billion
CHF
(2014),
Asia
is
responsible
for
over
50%
of
all
Swiss
watch
exports.
Hong
Kong
is
by
far
the
most
important
market
with
a
share
of
18.5%
at
the
end
of
2014,
followed
by
USA
(10.7%)
and
further
two
Asian
countries
China
(6.3%)
and
Japan
(6.0%).
Over
the
last
years,
Asia
was
as
the
main
driver
for
growth
in
the
Swiss
watch
industry.
In
overall
terms,
Asian
countries
were
responsible
for
around
70%
of
the
growth
in
exports
in
the
2000-­‐2012
period.
The
growth
came
mainly
from
Hong
Kong
and
China,
which
together
generated
more
than
40%
of
the
growth.
Singapore,
the
United
Arab
Emirates
(UAE),
South
Korea,
Taiwan,
Saudi
Arabia,
and
Japan
are
also
among
the
15
countries
that
provided
the
biggest
contributions
to
growth.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

6.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

7.
CHALLENGES
IN
SWITZERLAND
Swiss
Made
Label
Supplier
Situation
Investment
in
facilities
Currency
(CHF)
CHALLENGES
IN
(ASIAN)
MARKETS
Lower
growth
in
main
export
countries
Importance
of
travelers
and
less
regionalism
Costly
set
up
of
distribution
system
Negotiation
power
of
main
players
Expensive
advertisement
costs
Importance
of
Digital
Media
Change
in
consumer
behavior
because
of
new
product
categories
(smart
watches)
CHALLENGES
OVERVIEW
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

8.
STRUCTURAL
CHALLENGES
IN
SWITZERLAND
In
Switzerland
itself,
the
companies
are
facing
several
structural
challenges
which
combined
are
resulting
in
an
upward
pressure
on
the
prices.
One
reason
for
the
upward
pressure
is
the
movement
production.
The
mechanical
movement
is
the
heart
of
any
watch.
Up
until
recently,
most
of
the
brands
bought
their
movements
from
ETA,
a
company
owned
by
the
Swatch
Group.
This
made
the
Swiss
watch
companies
highly
dependent
on
the
Swatch
Group.
Swatch
Group
made
the
decision
to
limit
the
deliveries
of
their
ETA
movements
to
competitors.
Therefore
the
brands
with
limited
or
without
own
movement
production
will
need
to
either
negotiate
independent
deals
with
the
Swatch
group
or
invest
in
creating
their
own
movement.
The
big
customers
like
Richemont and
LVMH,
as
they
are
able
to
buy
in
a
bigger
quantity
than
independent
brands,
will
probably
still
be
delivered
by
Swatch
Group
with
ETA
movements.
Still
brands
have
to
more
and
more
look
for
alternatives.
This
is
why
brands
all
over
Switzerland
need
to
invest
more
and
more
into
the
construction
of
new
production
facilities.
It
is
a
big
challenge
to
produce
at
the
same
quality
and
price
like
ETA
as
they
have
a
critical
mass
and
benefiting
from
experience,
facilities
and
economies
of
scales.
For
other
brands,
the
investment
in
production
facilities,
Know-­‐how
of
movement
production
and
less
quantity
will
increase
the
prices
of
the
movements.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

9.
STRUCTURAL
CHALLENGES
IN
SWITZERLAND
The
“Swiss
Made”
Label
is
extremely
valuable
in
the
watch
industry
and
is
used
by
the
brand
as
marketing
and
quality
label.
It
allows
to
sell
the
watches
at
a
certain
premium.
The
parliament
passed
in
2013
a
“Swissness”
amendment
with
stricter
criteria
governing
the
use
of
the
Swiss
Made
label,
stating
that
at
least
60%
of
the
production
costs
must
be
attributable
to
operations
in
Switzerland
and
that
the
watch
must
be
developed,
assembled
and
inspected
in
Switzerland.
This
leads
to
greater
demand
of
Swiss
watch
components
and
combined
with
the
limited
supply
from
Swatch
Group
(previous
slide)
further
intensifies
the
need
for
brands
towards
vertical
integration
and
to
invest
in
production
capacities.
Another
challenge
is
the
Swiss
Franc’s
exchange
rate.
Since
the
Swiss
National
Bank
in
January
gave
up
efforts
to
cap
the
franc’s
value
against
the
euro,
the
Swiss
currency
has
strengthened
by
more
than
10
per
cent.
Furthermore,
the
decline
of
the
euro,
ruble,
yen
and
renminbi and
the
rise
of
the
dollar
have
also
contributed
to
watchmakers’
headaches.
The
limited
supply
by
the
Swatch
group,
the
increased
demand
of
Swiss
made
parts
through
the
Swissness initiative,
not
having
the
possibility
to
shift
production
abroad
and
therefore
be
more
exposed
to
the
exchange
rate
which
developed
adversely
for
the
brands,
are
testing
the
pricing
power
of
Swiss
Watchmakers.
This
can
have
an
adverse
impact
on
the
competitiveness
especially
for
the
smaller
and
mid-­‐sized
companies
in
the
lower
and
medium
price
range.
Brands
had
to
increase
and
renegotiate
prices,
which
is
still
easier
in
the
high-­‐end
watchmaking.
Nonetheless,
not
all
brands
can
adopt
price
increases
the
same
way,
especially
in
the
lower-­‐prices
market
segments
.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

10.
ASIA:
LOWER
GROWTH
IN
MAIN
MARKETS
Even
though
the
Swiss
watch
industry
is
very
diversified,
the
growing
significance
of
the
Chinese
market
poses
a
degree
of
cluster
risk
for
the
industry.
Thanks
to
a
growth
jump,
mainland
China
moved
up
to
third
place
and
accounted
for
8%
of
Swiss
watch
exports
in
2012.
If
Hong
Kong,
Macao,
and
Taiwan
are
also
included,
by
the
end
of
2012,
30%
of
the
watch
exports
went
to
the
Chinese
Market.
It
is
not
ultimately
surprising
that
those
growth
rates
could
not
continue
in
the
same
way,
but,
as
indicated
by
the
graph,
since
2012
the
sales
is
declining.
This
declining
intensified
in
2015
and
for
example
in
July
2015,
all
the
eight
leading
markets
were
down,
often
steeply.
The
pessimism
about
China
and
Hong
Kong
can
be
explained
by
the
lower
rates
of
growth
in
the
economies
of
many
emerging
markets,
the
devaluation
of
Yuan
and
also
the
anti-­‐corruption
and
anti-­‐kickback
legislation
in
China
(crackdown
on
exorbitant
spending
of
party
official)
The
picture
for
Hong
Kong
is
even
worse,
as
currently
a
lot
of
challenges
are
occurring.
There
is
the
effect
of
the
strong
Swiss
Franc,
falling
tourism
from
China
to
Hong
Kong
(also
due
to
less
stringent
conditions
for
Chinese
people
to
get
travel
visas
to
other
destinations)
and
the
effects
of
the
Umbrella
Revolution.
This
decline
has
started
to
create
a
build-­‐up
in
inventory
and
inventories
have
reached
a
6-­‐10
months
of
sales
of
some
brands.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

11.
ASIA:
CHINESE
TOURISTS
Besides
the
sales
in
China,
one
of
the
most
important
customer
group
are
and
continue
to
be
the
Chinese
travelers.
The
high
sales
tax
is
reducing
the
domestic
purchasing
and
the
Chinese
customers
take
advantage
of
buying
the
Swiss
watches
abroad
at
a
lower
price.
Studies
say
that
in
2012
37%
of
the
Chinese
travelers
bought
a
watch
during
their
trip.
For
a
long
time,
around
half
of
the
watches
were
bought
in
Taiwan,
Macao
or
Hong
Kong.
In
Europe,
the
most
sales
occurred
in
Paris.
Because
of
political
developments
and
less
stringent
rules
for
visa
for
the
Chinese,
a
lot
of
new
destination
came
into
focus
of
shoppers.
Therefore
it
is
crucial
for
the
major
brands
to
have
presence
where
the
Chinese
customers
are
traveling
to.
The
head
of
the
LVMH
watch
division,
Jean-­‐Claude
Biver,
for
example
said:
“We
will
follow
the
Chinese
customer
wherever
he
goes
and
offer
them
the
possibility
to
buy
our
watches”
From
2013
to
2014,
Sales
of
watches
to
Chinese
in
South
Korea
for
example
rose
significantly
but
dropped
even
more
after
the
virus
MERS
broke
out.
That
followed
a
significant
increase
in
Sales
in
Japan
because
the
Yen
is
at
lowest
level
in
real
terms
since
early
1970
and
has
depreciated
almost
50%
against
the
renminbi.
This
shows
the
challenge
of
the
watch
industry
as
it
is
necessary
to
have
the
desired
products
available
at
the
right
time
at
the
right
place.
Furthermore
the
Chinese
market
has
to
carefully
taken
care
off,
so
that
the
Chinese
buy
the
specific
brand
while
traveling.
The
internet
and
the
flow
of
tourist
have
removed
regionalism
and
brands
have
to
think
and
act
globally
in
every
kind
of
aspect
like
product
planning,
availability
of
product
and
marketing.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

12.
CONTROLING
DISTRIBUTION
CHANNELS
As
already
mentioned
on
the
last
slide,
optimization
of
sales
channels
is
one
of
the
important
strategic
point
of
the
watch
brands.
Well
established,
financially
solid
brands
have
to
decide
to
what
extend
and
in
which
markets
they
want
to
handle
and
control
the
distribution
by
themselves.
Smaller
brand
face
the
challenge
that
vertical
integration
is
very
costly
and
often
not
a
strategic
option.
Therefore
they
must
evaluate
the
most
efficient
method
of
gaining
access
to
markets.
In
the
past,
almost
all
luxury
watches
were
sold
via
specialist
retailers
and
regional
retail
groups.
Through
the
market
consolidation
and
the
increasing
strength
of
larger
groups,
the
groups
have
an
increased
influence
on
the
specialist
dealer
and
it
gets
challenging
for
smaller
and
medium
brands
to
obtain
shelf
space.
Less
known
brands
represent
as
well
a
certain
financial
risk
for
the
distributor
and
the
retailer.
This
makes
it
difficult
for
smaller
and
independent
brands
to
get
into
a
retail
store
and
if
space
is
offered,
the
watches
are
mostly
only
on
consignment.
Therefore
the
establishment
of
a
global
presence
for
brands
is
costly
and
needs
a
lot
of
experience
in
the
different
markets.
The
high
costs
of
managing
and
the
difficulty
of
finding
a
distributor
for
the
brands
made
them
often
try
to
directly
contact
retailers
or
sell
the
brand
over
internet.
This
leaded
to
a
confusing
situation
in
some
markets
where
the
purchasing
experience
is
unclear
or
not
available
to
many
customers.
Often
potential
customers
don’t
know
where
and
when
certain
products
are
available.
Well
established
Brands
from
the
big
groups
try
to
control
the
distribution
by
establishing
monobrand boutiques
and
M&A
in
vertical
direction
by
acquiring
suppliers
and
retailers.
This
allows
the
brands
to
control
the
environment
and
sales
process
(trainees
staff
to
transmit
brand
values,
control
discounts/grey
market,
control
collection).
Furthermore
it
is
easier
for
the
brands
to
better
supply
the
actual
needs
at
distribution
points and
react
to
changes.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

13.
HIGH
ADVERTISMENT
COSTS
and
DIGITAL
MANAGEMENT
It
gets
more
and
more
important
to
spend
a
significant
amount
on
marketing
efforts.
The
major
brands
invest
a
lot
on
sponsoring
selected
events
to
strengthen
their
brand
image
and
position.
Sports
plays
an
important
role
in
the
marketing
mix
and
brands
sponsor
marathons,
selected
tournaments
(golf,
tennis)
and
teams
(soccer,
F1
racing,
sailing).
Furthermore
brand
ambassadors
like
tennis
players
(Roger
Federer,
Stanislav
Wawrinka)
are
an
integral
part
of
the
marketing.
Last
but
not
least
product
placement
in
movies
is
gaining
in
importance
due
to
the
recent
blockbusters
(007).
Those
strategies
are
more
often
used
by
large
brands
that
can
afford
them.
Small
independent
brands,
which
usually
have
limited
marketing
budgets,
focus
more
on
social
media
and
the
internet,
as
these
offer
a
better
opportunity
to
reach
a
global
audience
and
engage
with
target
customers
at
a
lower
cost.
Online
marketing
campaigns,
homepage,
social
Media
and
Blogs
play
more
and
more
a
role
during
the
buying
decision.
Brands
need
to
permanently
monitor
the
online
activities
and
it
gets
necessary
to
install
teams
which
support
those
efforts.
An
increasing
number
of
watch
brands
are
experimenting
with
the
possibility
of
online
sales
channels.
A
challenge
is
to
balance
exclusivity
and
ubiquity,
mass
and
class.
The
goal
is
to
make
everyone
as
aware
as
possible
of
the
brands
promise
but
keep
the
achievements
of
the
brands
exclusive.
A
big
obstacle
of
online
sales
are
the
counterfeits.
Furthermore,
through
the
high
growth
rates
over
the
last
year,
during
a
slowdown
of
the
economy,
a
lot
of
second
hand
watches
could
become
available.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

14.
New
Product
categories:
Smart
watch
Smartwatches are
increasing
the
total
market
for
watches
but
are
as
well
in
competition
with
the
traditional
Swiss
watch
brands.
Especially
cheaper
brands
are
hit
the
most
by
the
new
product
category
which
is
steadily
establishing
itself
and
soon
to
be
bigger
than
the
tablet
market.
In
the
USA
already
every
4th person
is
said
to
be
wearing
a
smartwatch or
a
so
called
wearable,
giving
access
to
health
relevant
data.
Especially
quartz
watches
have
to
be
more
and
more
’intelligent’.
It
is
expected
that
sooner
or
later
around
30-­‐50%
of
the
Quartz
watches
exported
from
Switzerland
have
a
smart
function.
Compared
to
mechanical
watches,
in
this
segment
the
worldwide
competition
is
undoubtedly
bigger
as
major
electronic
companies
are
fighting
for
their
share
(Apple,
Google,
Amazon
etc.
)
The
mechanical
watches
still
offer
a
different
buying
argument,
as
especially
the
longevity
of
a
mechanical
movement
is
celebrated.
But
as
well
brands
in
the
middle
segment
can
no
longer
neglect
the
trend
towards
smartwatches or
devices
with
intelligent
functions
on
the
wrist
as
recent
products
of
Tag
Heuer,
Breitling,
Victorniox and
Montblanc show.
The
market
for
watches
in
total
is
increasing
but
it
is
yet
to
show
how
the
traditional
Swiss
watch
industry
is
affected
by
the
changes.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes
Development
of
export
of
Swiss
watches
in
different
price
segments
Development
Sales
in
Mrd $
of
conventional
watches
and
smartwatches (grey:
smartwaches,
orange:
traditionall watch
industry
not
Switzerland,
orange

15.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

16.
My
role:
Building
up
a
distribution
in
Asian
countries
My
goal
is
to
establish
together
with
my
business
partners
a
new
distribution
network
in
Asia
specializing
on
independent
watch
brands,
cultivating
the
tradition
of
Swiss
watchmaking
with
a
focus
on
technological
innovation.
As
described
in
the
slices
above,
especially
for
independent
small
and
medium
sized
brands
it
gets
more
and
more
complex
to
manage
their
brand
globally.
The
goal
of
our
company
is
to
become
become
a
strong
partner
for
upcoming
watch
brands
and
offer
those
brands
efficient
distribution
and
market
expansion
services
across
Asia.
In
2014,
my
business
partners
and
me
started
a
new
company
with
the
headquarter
in
Switzerland
and
subsidiaries
in
Japan,
Taiwan
and
Hongkong.
The
goal
is
to
find
a
good
mix
between
global
management
with
standardization
and
regional
management
with
localization.
The
office
in
Switzerland
helps
us
to
keep
close
contact
with
the
brands
locally
and
identify
new
and
innovative
watch
brands.
The
subsidiaries
in
three
major
Asian
markets
give
us
a
certain
credibility
and
we
can
profit
from
knowledge
exchange
between
the
markets.
Therefore
the
brand
message
and
image
can
be
equally
conveyed
in
our
markets.
Having
a
local
team
in
Japan,
Taiwan
and
Honkong allows
us
to
cope
with
the
challenges
of
the
local
market.
Together
with
the
brands
we
want
to
grow
in
the
current
markets
and
open
up
new
markets
together.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

17.
My
role:
Be
connected
over
Asia
The
backbone
of
the
Swiss
Watch
industry
are
without
doubt
the
big
players
like
Swatch,
Richmond
and
LMVH.
Nonetheless,
every
industry
needs
some
entrepreneurial
spirit
and
there
are
a
lot
of
very
interesting
independent
watch
brands.
I
want
to
create
a
success
story
with
a
watch
brand
in
Asia
and
then
further
support
and
consult
brands
in
Switzerland
with
my
market
experience.
I
am
currently
located
and
working
in
Japan
with
occasional
business
trips
to
Hongkong,
South
Korea
and
Taiwan.
Through
this
I
experienced
how
the
major
brands
compete
within
the
markets.
On
one
hand
I
want
to
build
up
a
profound
knowledge
of
the
Asian
markets
and
the
needs
of
Asian
luxury
consumers
and
on
the
other
hand
I
want
to
deepen
my
knowledge
of
the
watch
production
in
Switzerland.
With
this
expertise
I
intend
to
build
a
bridge
and
transfer
know-­‐how
between
the
Asia
and
Europe
respectively
Switzerland.
By
consulting
upcoming
brands
how
to
be
successful
in
the
Asian
market
I
hope
to
support
to
further
promote
the
Swiss
watch
industry.
The
goal
for
the
company
is
to
have
a
handful
watch
brands
in
different
price
segments
and
with
different
unique
selling
positions. By
uniting
several
independent
brands
and
manage
them
in
different
regions
across
Asia
we
can
achieve
a
certain
strength
and
cope
with
the
challenges
of
the
industry.
In
the
current
early
stage
of
the
company,
we
try
to
identify
the
best
possible
brands.
Furthermore
I
challenge
myself
to
deepen
the
business
relationships
for
example
with
local
partners
in
Japan.
Within
the
market
I
need
to
build
up
a
reliable
basis
of
contacts
in
the
retail
business
and
gain
credibility
in
selling
high-­‐end
watch
pieces
to
valued
customers.
I
want
to
build
up
a
network
in
Japan
and
further
regions
and
be
well
connected
with
the
wholesale
and
retail
business,
the
media
people,
influencers
and
watch
lovers.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

18.
Besides
the
Asia
wide
management
of
a
brand,
my
goal
is
the
set
a
special
footprint
in
the
watch
industry
in
Japan
and
make
a
small
contribution
to
support
Japan
to
become
a
more
international
place
and
promote
entrepreneurship.
Japan
has
a
incomparably
rich
tradition
and
cultural
heritage.
This
is
as
well
a
reason
why
the
business
manners
are
very
traditional
and
companies
are
organized
in
a
hierarchic
way,
making
it
difficult
for
young
employees
to
stand
out
with
their
ideas.
I
hope
my
company
in
Japan
we
can
be
a
role
model
and
by
getting
bigger,
I
wish
that
our
voice
will
have
a
certain
value.
Furthermore,
I
believe
that
trading
with
foreign
goods
can
help
to
convey
a
message
and
make
people
learn
about
other
countries.
This
is
why
I
want
to
be
involved
sooner
or
later
for
example
at
the
Chamber
of
Commerce
and
Trade.
Relating
to
the
watch
industry,
especially
in
the
current
digital
age
with
the
fast
moving
technology
industry,
I
want
to
promote,
as
a
young
professional
in
Japan,
European
craftsmanship
like
the
Swiss
watch
industry
and
explain
young
people
the
fascination
of
mechanical
watches.
My
role:
Overcome
challenges
in
Japan
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

19.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes

20.
Sources
Credit
Suisse.
Swiss
Watch
industry,
Prospects
and
Challenges,
10,
2013.
Retrieved
from
https://www.credit-­‐suisse.com/media/production/pb/docs/unternehmen/kmugrossunternehmen/uhrenstudie-­‐en.pdf
Deloitte.
The
Deloitte
Swiss
Watch
Industry
Study
2014.
Retrieved
from
http://www2.deloitte.com/content/dam/Deloitte/ch/Documents/consumer-­‐business/ch-­‐en-­‐swiss-­‐watch-­‐industry-­‐study-­‐2014.pdf
Deloitte.
The
deloitte Swiss
Watch
Industry
Study
2015.
Retrieved
from
http://www2.deloitte.com/ch/de/pages /consumer-­‐business/articles /swiss-­‐watch-­‐industry-­‐study.html
Federation
of
the
Swiss
Watch
Industry.
The
Swiss
and
world
watchmaking
industry
in
2014.
Retrieved
from
http://www.fhs.ch/file/59/Watchmaking_2014.pdf
Federation
of
the
Swiss
Watch
Industry.
Consumer
Awareness
Survey
on
Watches
2014.
Retrieved
from
http://www.fhs.ch/file/122/2014_Japan_Consumer_survey_-­‐_Summary.pdf
The
Financial
Times.
Special
Report
,
Watches
&
Jewelry,
14.12.2015.
Retrieved
from
http://www.ft.com/intl/reports/watches-­‐jewellery
Merlinlinehan.
Chinese
Tourists
are
Going
Global,
How
Can
You
Benefit
From
This Trend?
15.01.2015.
Retrieved
from
http://frontiermarketstrategy.com/2014/01/15/chines e-­‐tourists-­‐are-­‐going-­‐global-­‐how-­‐can-­‐you-­‐benefit-­‐from-­‐this-­‐trend-­‐2/
Neue Züricher Zeitung,
Andrea
Martel.
Im Windschatten der
Apple
Watch,
09.11.2015.
Retrieved
from
http://www.nzz.ch/wirtschaft/diverse-­‐schweizer-­‐uhrenhersteller-­‐setzen-­‐auf-­‐intelligente-­‐uhren-­‐1.18643825
Neue Züricher Zeitung,
Christiane
Hana
Henkel.
Der
Kampf ums
Handgelenk,
09.11.2015.
Retrieved
from
http://www.nzz.ch/wirtschaft/unternehmen/der-­‐kampf-­‐ums-­‐handgelenk-­‐1.18643911
Swatch
Group.
Annual
Report
2014.
Retrieved
from
http://www.swatchgroup.com/investor_relations/annual_and_half_year_reports
Vontobal Equity
Research
Vontobel Luxury
Goods
Shop,
Swiss
watch
industry
with
another
record
year
in
2014,
but
challenging
environment
in
2015
due
to
FX,
27.02.2015.
1.
The
Swiss
Watch
Industry
2.
Challenges
3.
My
Future
Role
4.
Endnotes