While Swiss Franc goes up, the Price tag of Replica Patek Philippe in Australia goes down?
Although it has only been two month away, as for the Swiss watch industry, 2015 is shaping up to be annus horribilis. Furthermore, in the age of this uncertain economic time, the whole industry might look up to the top firms to see on earth which road they will take. The shortest telling of this story is that Replica Patek Philippe are choosing the low road, to lower pricing.
On 15th of January 2015, merely few days before the opening of the important SIHH the Swiss replica watch industry was dealt a very nasty blow. All out of a sudden that the Swiss National Bank claimed that it was abandoning its long-standing currency cap against the Euro. The instant consequence was that the Swiss Franc had an unexpected 30% increase overnight.
This is the largest single currency market movement in 24 hours, ever. For more on the effect of this we recommend reading some specialist financial (completely distinct from watch specialist) analysis.
Except from generalized chaos on the Swiss stock markets this move has big implications on the export heavy Swiss watch industry. Share price tags for dominant players Richemont and the Swatch Group suffered, and Nick Hayek, CEO of the Swatch group portrayed it as a tsunami for the nation’s economy.
Several brands are choosing to increase prices to keep profit margins, which just made your dream watch about 10-15% less affordable.
In the wake of this trembling we’re starting to see how the distinct brands are dealing with the ramifications of this new financial order.
Or did it?
Patek Philippe replica watches have bucked this trend, plummeting the prices across most of their range, except for the ultra-high end collections, by 7% in the US and Hong Kong, 5% in Switzerland and 3% in the Asia Pacific (Australia is included). If you are a loyal fan of Patek Philippe (and you’re not reading this in mainland Europe or Tokyo- where price tag have augmented), you are very lucky.