The Swiss watch brand IWC, owned by Richemont, inaugurated its new factory in Schaffhausen. This to keep track with growing demands for its luxury watches. The new production location brings the production of movement components, manufacture movements, and cases under one, 13,500 square meters, roof.
The company is optimistic about the future. "You can see that in Swiss watch export figures," Christoph Grainger-Herr, CEO of IWC Schaffhausen, told press agency Reuters in an interview. "The Asia Pacific region has recovered and the U.S. also shows a good development." The Swiss watch exports rose with 10 percent in the first seven months of 2018. An increase of 29 percent in their number one market, Hong Kong, is one of the driving factors in this optimism.
The brand collections of Pilot, Da Vinci and Portugieser are part of the IWC group. The focus of the company will remain on export, and investments will be made in e-commerce. IWC has expanded its online boutique to the United States last year and will do so in Europe in September 2018. On another note, the mono-brand stores network will grow with five to ten stores each year.
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