Fashion
Used Rolexes, Pateks are bright spot in struggling watch world

By
Bloomberg
Published
August 15, 2025
The market for used luxury timepieces recorded its best half-year performance since early 2022, providing a bright spot in an otherwise grim landscape for high-end watches.
The Bloomberg Subdial Watch Index, which tracks the 50 most-traded timepieces by transaction value, gained 5.3% in the first half of 2025 — and extended that recovery in the third quarter. Rolex’s gold Daytona 116508 and Patek Philippe’s Aquanaut 5167A were among the top performers.
The rebound is modest compared with the pandemic-era boom, when housebound consumers, flush with cash, splashed out on fancy timepieces. Still, it comes as new watch sales face US tariffs — including a 39% levy on Swiss exports — and stubbornly low demand in Asia.
The second hand market is also benefiting as record gold prices drive up the cost of new watches and shoppers look to avoid delays that can occur when seeking to buy a new model, according to Christy Davis, founder of London-based Subdial, a watch dealer and trading platform.
In boutiques, high-demand new models are often tightly allocated, forcing would-be buyers to wait months or longer for delivery, while secondary platforms offer immediate access to a broader range of pieces, said Davis.
The increased prices for Rolex’s gold Daytona come during a boom for bullion amid tariffs and wars in Ukraine and the Middle East, while Patek Philippe’s Aquanaut is outperforming the Swiss brand’s hallmark Nautilus sports models, perhaps underscoring a growing trend toward restrained opulence, Davis said.
“There’s definitely something around people looking for more quiet luxury these days, and the Aquanaut is that when compared with the Nautilus.”
The primary watch market, by contrast, is suffering. Swiss watch exports dropped 5.6% in June, extending a year-long rout that’s seen declines in shipments to the US, the biggest export market, along with Japan and Hong Kong.
Watchmakers like Rolex, Patek Philippe and Audemars Piguet are also contending with the consequences of a stronger Swiss franc and a broader weakness in luxury demand. Swatch Group AG — whose high-end brands include Omega and Blancpain — reported a 7.1% drop in sales in the first half of the year, which it said was “exclusively attributable” to China, including Hong Kong and Macau.
Trump’s trade war has exacerbated the pain. Switzerland is reeling from the US imposition of the 39% tariff, the highest in the developed world. While that levy has now taken effect, the country is keeping up efforts to negotiate with the US, raising the prospect that it could yet change.
Fashion
Bangladesh’s RMG exports up 4.7% in Q1 FY26, but Sept shipments dip

Woven garment exports slightly outpaced knitted garment exports in terms of growth. Knitwear exports (Chapter **) rose by *.** per cent to $*.*** billion, compared to $*.*** billion in the same period of fiscal ****–**. Woven apparel exports (Chapter **) increased by *.** per cent to $*.*** billion, up from $*.*** billion in July–September ****, EPB data showed.
Home textile exports (Chapter **, excluding ******) also grew, rising by *.** per cent to $***.** million, compared to $***.** million in the same period of the previous fiscal. Collectively, exports of woven and knitted apparel, clothing accessories, and home textiles accounted for **.** per cent of Bangladesh’s total exports, which stood at $**.*** billion during the period. Higher demand for diversified and value-added textile products supported this growth.
Fashion
Dutch manufacturing flat in August, up 1.7% from July: CBS

Slightly more than half of the various industrial sectors produced less than they did one year previously. Of the eight largest industrial sectors, output rose the most sharply in the repair and installation of machinery, while it fell the most sharply in the transport equipment industry.
A more accurate picture of changes in short-term output is obtained when the figures are adjusted for seasonal effects and the working-day pattern. After adjustment, manufacturing output rose by 1.7 per cent in August relative to July, CBS said in a press release.
In August 2025, Dutch manufacturing output remained unchanged year-on-year, although output declined in over half of the industrial sectors.
After seasonal adjustment, output rose by 1.7 per cent compared to July.
The strongest growth was seen in the repair and installation of machinery, while transport equipment recorded the sharpest decline.
After adjusting for seasonal and working-day effects, manufacturing output often fluctuates significantly. In the spring of 2020, output declined rapidly, reaching a low point in May 2020. This was followed by an upward trend until May 2022. The trend has reversed since then.
Producer confidence was less negative in September than it was in August. Manufacturers were more positive regarding output for the next three months, in particular.
Germany is an important market for the Dutch manufacturing sector. In September, German manufacturers were more negative than they were in August, as reported by Eurostat. In August, the calendar-adjusted output of the German manufacturing sector was down by 5.1 per cent, year on year. Relative to July, output fell by 5.5 per cent, as reported by Destatis.
Fibre2Fashion News Desk (RR)
Fashion
ADB commits $82.5 mn to drive Cambodia’s energy transition

The first subprogramme, approved in 2022, introduced pivotal policy measures that guided the energy sector toward a more efficient and renewable development pathway. Building on this foundation, subprogramme 2 advances regulatory reforms to strengthen the energy efficiency framework and enhance policy clarity to attract private sector investment. A key milestone under the subprogramme is the introduction of the country’s first set of regulations establishing Minimum Energy Performance Standards for electrical appliances, starting with air conditioners, which account for the largest share of energy consumption in the residential sector, ADB said on its website.
Subprogramme 2 will also establish an Energy Efficiency Revolving Fund aimed at facilitating access to finance for local small and medium-sized enterprises (SMEs) to invest in energy-efficient technologies. The revolving fund will be set up through a financial intermediation structure to enable local banks to extend loans to SMEs for energy efficiency investments. By mobilizing domestic financial institutions and supporting SMEs, the revolving fund is expected to accelerate the nationwide scale-up of energy efficiency investments.
Asian Development Bank (ADB) has approved $82.5 million for Phase 2 of Cambodia’s Energy Transition Sector Development Programme to support clean energy through policy reforms and investments.
The programme introduces energy efficiency standards, establishes a revolving fund for SME financing, and also aims to attract private investment.
“ADB is honoured to support Cambodia in its ambitious and transformative journey in the energy sector. Through a comprehensive reform package, combining policy support with strategic investments, the Energy Transition Sector Development Programme will support turning the government’s ambitious vision into reality,” said ADB acting country director for Cambodia Anthony Gill. “This includes the goal of achieving 70 per cent renewable energy in the power mix by 2030, along with a strong commitment to advancing energy efficiency, which is essential to ensure that Cambodia’s growth remains both sustainable and affordable.”
Subprogramme 2 will be followed by a third phase in 2027, which will further deepen reforms by expanding the energy efficiency regulatory framework and introducing technical standards for renewable energy, buildings, and industry to further attract private sector investment.
Fibre2Fashion News Desk (RR)
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