Swiss replica watch exports to UK rise as tourists make most of fall in sterling

— Increase taps into surge of visitors to UK, exploiting what has become the cheapest luxury market in the world, say analysts

swiss-replica-watches
A man looks at expensive watches in a shop window in Bond Street, central London.

Swiss replica watch exports to the UK rose by 13.4% in July as tourists exploited the drop in the value of the pound to snap up luxury goods.

The Federation of the Swiss Replica Watch Industry said watches worth 110.2m Swiss francs (£87m) were exported to the UK last month, the best figures since November 2015.

The figures are the latest sign of a boost for luxury retailers following the EU referendum result, which has pushed down sterling and made British shops more attractive to foreign visitors, with sales of jewellery and watches across the UK growing by more than 16% last month.

Pound against the euro

20160912140739

The UK is now the cheapest luxury goods market in the world, according to analysts at stockbroker Exane BNP Paribas, which has predicted an uplift for British brands such as Burberry, Mulberry and Stella McCartney, as the stronger euro and dollar against the pound fuel tourist visits.

“Tourist inflows and spend are highly correlated to exchange rates. Continental markets such as France have suffered from relatively higher prices and terror attacks. “The likely consequence is a tourist spend boom in the UK,” said Luca Solca, a luxury goods analyst at Exane BNP Paribas.

The increase in Swiss replica watch exports to the UK compared with July 2015 makes Britain the fastest-growing major market for the sale of brands such as replica Omega, Breitling and Rolex.

Brian Duffy, the chief executive of Aurum, which owns the Goldsmiths, Mappin & Webb and Watches of Switzerland chains, said his outlets had seen an immediate pickup in sales of luxury replica watches (above £500) on the day after the Brexit vote. This was most evident in London and at the group’s airport stores, he said.

In July 2016 Switzerland exported 110.2 million swiss francs worth of watches to the UK

20160912140846

“It’s very clear there’s a boom going on. We are selling a lot of very high-end pieces where the absolute amount of savings can justify the cost of foreign travel. The savings on a £300 watch can pay for a flight,” he said.

Michael Wainwright, the managing director of Boodles, which sells Patek Philippe replica watches, said the British luxury jeweller had seen good business from Asian and Middle Eastern clients, who usually visit the UK at this time of the year, because the exchange rate had made desired items about 18% cheaper than anywhere else in the eurozone. The pound has fallen by 11% against the euro and dollar since the vote to leave the EU.

breitling-replica
A Breitling replica watch with diamonds. Savings on luxury watches can justify the cost of flights, experts say.

Wainwright said the chain had also recorded a rise in American buyers last month, when Swiss replica watches were as much as 30% cheaper in the UK than in the US.
Advertisement

“To some extent, it is commodity dealing. Collectors will gravitate to the country offering the lowest price and at the moment that is the UK,” he said.

Jewellery sales were also benefiting from the pound’s decline, although the market was less commoditised, and so differences in design, service and other factors had a bigger role to play than the watch market, where collectors know exactly what they want.

“The weaker pound doesn’t have such an enormous benefit as it does on replica watches, but it will help London, retail and luxury goods,” he said.

Mario Ortelli, a luxury goods analyst at Bernstein, agreed that the UK luxury market was likely to benefit as a whole from the lower value of the pound. “Many tourists will decide to come to the UK, not because they like the weather, but because they think the exchange rate is improving prices,” he said.

But the global market for luxury goods was not likely to benefit overall from strong sales in the UK, he said, as shoppers were merely shifting from one country to another.

However, Ortelli said luxury brands were likely to put up prices to ensure that they protected sales and profits, meaning the boost to the UK may not last. “The benefit will be short term,” he said.

Pound against the dollar

20160912141111

Jewellers said brands including Patek Philippe and Cartier had already put up prices by between 8% and 10%, although Rolex, Omega and Breitling had yet to change.

Meanwhile, Ryanair said it was carrying 20% more Americans and 10% more Chinese from Europe on shopping trips to the UK this summer, which it attributed to the fall in sterling.

The rise in luxury spending in the UK might help brands with British heritage such as Burberry, which have suffered from falling numbers of Chinese visitors to Europe due to terror fears, and to Hong Kong because of visa changes.

Read More

Buying Replica Watches In Englewood, New Jersey: The Timepiece Collection

Timepiece-Collection-Exterior-Clock

Welcome back to an BuyWatchesTop original series, where we discuss important stores that sell replica watches all over the world. Each store we profile has an interesting story to tell about where they operate and who they sell to. Whether you buy replica watches from brick and mortar retailers or prefer to buy replica watches online, these are the stores that help shape our watch culture around the globe. There is a long list of stores to cover, but if there is a retail location in your favorite city that we simply can’t miss, let us know in the comments below. Here is a map of stores we have covered so far.

Where to buy replica watches in Englewood, New Jersey?

Combining a small-town feel with easy access to the Big Apple (just across the Hudson river) is Englewood, New Jersey. And it’s home to The Timepiece Collection for the past 15 years. Back when they opened in 2001, there was a very small market of high-end watch retailers in Bergen County. At that time, two avid watch lovers and longtime friends, Mike Rosenberg and Jeff Khalaf, created The Timepiece Collection Ltd.

Timepiece-Collection-Interior-1

BuyWatchesTop (BWT): What types of watches are popular in your market? What makes Englewood a unique place to buy replica watches?

Timepiece Collection: We have many local watch collectors in the area and sell a lot of high-complication timepieces. The three brands that are our most popular are Audemars Piguet, Ulysse Nardin, and Hublot. In 2015, one of our biggest accomplishments was that we were named the #1 retailer of Hublot in the tri-state area. We also have an in-house watch repair and service department. Our store is truly a one-stop shop for all customers.

Englewood is a unique place to buy fake watches because there is such a diverse community of watch lovers. We have a brand in store to fit nearly any price point. Anyone from the avid shopper, to the high-end collector will walk into our store on any given day.

Timepiece-Collection-Tag-Heuer

BWT: What would you tell watch lovers in other cities about the tastes of watch lovers in Englewood?

Timepiece Collection: We have 20-plus brands in store, so our market is much larger than just the city of Englewood. We are one of the leading watch retailers in New Jersey, and we love that we have customers all throughout the tri-state area and beyond. Watch lovers in the area love high-complication movements and limited-edition pieces, while some still love the simple luxury jewelry pieces. We have a wide range of customers, purchasing both the classic and sophisticated, to the sporty, oversized, and flashy. We love that we can sell our customers everything from a pre-owned Omega Seamaster, to a new Ulysse Nardin Lady Diver. We have a brand and timepiece for nearly every price point.

Timepiece-Collection-Interior-3

BWT: Do you serve mostly locals or tourists, or is it a good mix? Also, what percentage of your customers would you call “knowledgeable watch collectors?”

Timepiece Collection: Because we ship internationally, we have a good mix of local customers as well as tourists. We are located just across the George Washington Bridge, and have many clients come in from Manhattan. A majority of our clients have been purchasing watches from us for the past 15 years. Being a luxury dealer for so many brands within 5 miles of Manhattan gives us a huge advantage.

Timepiece-Collection-Bergen-Performing-Arts-Center
Bergen Performing Arts Center

BWT: What is Englewood best-known for? What do visitors have to do, see, or eat while there?

Timepiece Collection: Englewood is well-known for the Bergen Performing Arts Center. It is a local non-profit theater that brings both big and small names to the stage. The town has a great selection of restaurants and shops for visitors. Englewood is also known for various celebrities that have lived in the East Hill Mansions, including Eddie Murphy, Sara Jessica Parker, Lil’ Kim, Tony Bennett, and many others. It is a small community with a city-like feel, and that’s what makes the entire neighborhood so desirable.

Timepiece-Collection-Chopard-Mille-Miglia

BWT: As a business, do you sponsor or participate in any local events, watch-related or otherwise?

Timepiece Collection: We sponsor many local events that involve charities in the area. Recently, we had an in-house event sponsoring Englewood Medical Center Foundation. We donated a portion of all Chopard replica watches sold through the month of May. We also sponsored an event benefiting Eva’s Village which is a local non-profit that helps underprivileged children in Bergen County.

Timepiece-Collection-Interior-4

Near the end of 2015, we worked with Hublot in creating our own 25-piece limited edition watch named the Classic Fusion Chrono Aero Hope for the Warriors. A portion of all the fake watches were donated to Hope for the Warriors, a non-profit organization benefitting post-9/11 service members, veterans, and military families.

Timepiece-Collection-Interior-5

BWT: What are some of the watch brands you are known for carrying? If you could pick a watch brand or model that epitomizes the culture or style of Englewood what would it be?

Timepiece Collection: The watch brands that we are well-known for carrying include Audemars Piguet, Blancpain, Breitling, Glashütte, Harry Winston, Hermes, Hublot, Jaquet Droz, Longines, Omega, Tag Heuer, Ulysse Nardin, and Zenith. We are also an authorized retailer for Bell & Ross, Bovet, Girard-Perregaux, Guiliano Mazzuoli, Parmigiani Fleurier, and Perrelet. Along with being an authorized retailer, we also sell many various brands of preowned replica watches including Rolex, IWC, Roger Dubuis, Jaeger-LeCoultre, Vacheron Constantin and many others.

Within the past year, we have acquired Chopard, NOMOS Glashütte, and Breguet. We are extremely happy and proud to be an authorized dealer for all of our brands and will continue to serve our watch community with the newest and best pieces on the market.

Read More

Sufficiently Swiss: at least 60% for replica watches

swiss-replica-watches
Swiss replica watches on display at the Baselworld exhibition in July.

Switzerland adopted regulations on Friday requiring that locally-made parts account for at least 60 percent by value in order for replica watches to bear the coveted and lucrative “Swiss Made” label.

The government said in a statement that the change, to go into effect on January 1, expands the criteria for judging whether a fake watch is sufficiently Swiss from just the main mechanism to all parts, and increases the minimum value from 50 percent currently.

Citing research that consumers are ready to pay up to 50 percent more for watches that are made in the Alpine nation, the government said the tightening of the regulations was taken “to stem the threat of abusive practices concerning Swiss origin and protect the good reputation of the ‘Swiss label’ and Switzerland as a manufacturing location.”

Watches are a key export earner for Switzerland, bringing in 21.5 billion francs ($22.4 billion, 19.9 billion euros) last year, and the country is home to luxury brands such as replica Omega, Rolex and TAG Heuer watch.

But use of some parts imported from low-cost countries is a common practice in some segments of the industry.

Read More