Independent Watch Brands Most at Risk in the Downturn (NY Times)

On the heels of two years of meager growth, Swiss watchmakers are bracing for more bad news once the export figures for 2015 are finalized this month. The industry is on track to record its first decline in exports since 2009. And pessimism among executives at the brands that dominate the business already is at a four-year high, according to a watch industry study by Deloitte published in September.