Baselworld: Swiss Eye Record Year
Watchmakers anticipate 2012 demand will top 2011.
Optimism abounds at Baselworld 2012 as the universe's biggest watch fair is set to open today. And for good reason. Demand is up, fueled by an increasing appetite in Asian consumers. According to Digital Luxury Group, China has topped the U.S. to become the biggest market for the luxury watch industry. Swiss giant Swatch recorded record sales of $7.4 billion in 2011, and watched net profit increase more than 18 percent.