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Hermes Says Luxury Watch Oversupply an ‘Illness’ for Industry This content was published on April 9, 2021 - 23:00 April 9, 2021 - 23:00 (Bloomberg) Swiss watchmakers are still churning out too many timepieces despite production cuts following a Covid-induced sales slump, according to the head of Hermes International’s horology unit. Brands including Hermes, Rolex and Audemars Piguet temporarily halted production last year amid the pandemic, which helped ease a supply glut somewhat. Still, some producers are failing to address the issue, Laurent Dordet, chief executive officer of Hermes’s watch unit, said in an interview. After Switzerland exported more than 1 billion watches over the past four decades, luxury watchmakers are struggling with the paradox that they need to sell more yet make their products even more exclusive. Some Swiss watchmakers reward sales managers too much for pushing too many products out into the market, according to Hermes’s wat

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