ZURICH, March 31 (Reuters) – The Chinese market is likely to be difficult until the end of the year with consumers hesitating over higher prices, the chief executive of Swiss watchmaker Swatch Group (UHR.S), opens new tab was quoted as saying in a newspaper interview.
Swatch CEO Nick Hayek told the Neue Zuercher Zeitung that China still has great potential, but consumers are waiting a long time before making purchases.
“They have also become more price sensitive, because in many areas there have been excessive price increases. I expect the Chinese market to remain difficult until the year’s end,” Hayek said in the interview published at the weekend.
