Swiss watch imports rise steadily

Swiss-made watch imports hit Dh400 million last year, up from Dh375 million in 1999. "Though the local market has lost out on Russian offtake, demand for Swiss-made watches continues to record steady annual increases. This will continue for the near term," said Wazir Ali Daredia, director of Fokz Watch Co, distributor for the Appella range in the Middle East, CIS and South Asia.

Recent trends indicate that while the Swiss may be losing out on the low-value end of the watch industry, strong gains have been made in the precious metals category.

In 1999, trade in Swiss watches was worth 11 billion Swiss francs, according to estimates by the Swiss Watch Federation. Last year, the precious metals category rose 18 per cent. This year it is expected to grow another 20 per cent.

Meanwhile, Appella has introduced its 18 carat gold model. Prices range from Dh1,500 to Dh8,000. "There was a wide gap between the exorbitantly priced luxury brands and the lower end unbranded makes being sold on weight and no warranty. This is the gap we aim to fill with the new range," said Abdul Jamal, chief executive of the ASJ Group, which owns Fokz.

The local firm covers 22 countries which take up to 100,000 pieces annually of Appella. The brand is owned by Appella Sarl, which makes 40,000 watches a month at its Swiss plant.