Editor’s Note
In a recent interview, Chopard CEO Karl-Friedrich Scheufele expressed concern over the unpredictability of U.S. President Donald Trump, viewing it as a risk to the luxury sector. His remarks highlight broader industry anxieties amid ongoing global uncertainties.
Karl-Friedrich Scheufele, owner and CEO of the Geneva-based watch and jewelry house Chopard, considers US President Donald Trump a threat to the entire luxury goods industry.
Scheufele said in an interview with Handelsblatt Magazin. This makes markets increasingly vulnerable, “and ultimately, the entire luxury industry suffers from it. In some places, there is simply a lack of continuity.”
At least the watch industry has overcome the crisis of the past two years. For many brands, sales had slumped due to new anti-corruption laws in China. Now, things are “indeed moving forward continuously again,” said Scheufele.
he said. Currently, the prevailing optimism can be justified. “However, my doubts grow whenever I take a closer look at what’s happening on the world political stage,” Scheufele continued, who expects double-digit growth for his own company this year.
The 60-year-old also criticized the Baselworld trade fair, on whose exhibitor advisory board Scheufele sits. The industry still allows itself two fairs, as alongside Baselworld in March, the SIHH always takes place in Geneva in January. But Baselworld, which recently even lost the Swatch Group (Omega, Breguet, Tissot), must “change urgently.”
Scheufele warned.