In 2019, Swiss companies that make expensive goods showed how good they
are by having the best net profit margin compared to their competitors
around the world. This amazing success gave them a strong base as they started
out on a difficult journey in 2020. Swiss companies continued to shine in many
different areas, but especially in the gold and watch industries. According to the
respected Deloitte Global Powers of Luxury Goods Top 100 list for this year,
they made up an amazing 32% of all companies in this field.The Swiss were really
noticeable in the world of expensive goods. With two companies in the top ten
and a total of ten companies making a name for themselves, Switzerland was
responsible for 13.2% of the total sales of luxury goods by the top 100 companies.
Compared to the previous year, this was a big jump, which shows that Swiss
companies continue to grow and gain power. But it's important to note that the
Swatch Group was a significant exception to this upward trend. They had a 3%
drop in growth, so they fell from 8th to 10th place in this year's list.Even though
this was a small loss, the Swiss luxury jeweller Richard Mille came out on top,
racing to the top of the list of the 20 fastest-growing companies. With a growth
rate of 200%, Richard Mille's story of success captured the luxury goods business
around the world.
