Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
The luxury timepiece industry is in a slump. Record-setting sales have ended with a thud. The affluent consumer cannot be expected to make its full contribution to consumption and GDP.
Swiss watch exports have declined in 2024, following three record years as measured by value. The affluent consumer has begun to exercise caution in their discretionary spending. This has recently been observed in the results of other discretionary goods makers (see https://therabidcapitalist.com/2024/09/09/luxury-goods-going-bad-2/).
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