BVSU Managing Director Guido Grohmann on the current situation of the German jewelry and watch industry

BVSU at the Inhorgenta 2026Hall C2, Booth 51

The latest statistics for the German jewelry and watch industry for November 2025, published by the Federal Association of Jewelry, Watches, Silverware and Related Industries (BVSU), are not bad at all. Nevertheless, the global economic situation is also causing problems for local jewelry and watch manufacturers, as Managing Director Guido Grohmann explained to Insight Luxury.

Especially compared to the same month last year, November 2025 looks quite promising, as the figures from the BVSU (German Association of Jewelry Manufacturers) show. Exports of jewelry from Germany increased by 9.5 percent and those of watches by 4.5 percent. This should be cause for optimism.

However, there is a big "but," as Guido Grohmann explains. And that—how could it be otherwise—has to do with the (for now averted) tariff antics of Donald Trump, but also with the "explosions in commodity prices.".

„"However, far more important for us than any tariffs are the geopolitical tensions and the associated explosions in commodity prices."“

Guido Grohmann, BVSU Managing Director

Drastic tariffs, indirect US imports, exploding gold price

„"The situation is very unclear for the German jewelry and watch industry. On the one hand, it is to be expected that the facts will continue to change. On the other hand, the different, sometimes drastic, Customs duties for other countries for difficult to oversee Disruptions in the global supply chain.

First of all, it should be noted that the USA While they are by no means our strongest export market, they are a significant one. However, the far more crucial fact is that our strongest customers are in France, Italy and in the Switzerland sit. A significant portion of the goods and component parts exported to these countries are incorporated into finished products manufactured in those countries. Therefore, exports to our most important markets can sometimes involve... indirect exports to the USA act.

That possible measures by the USA and possible counter-reactions could have negative effects on the world economy, on stock exchanges and markets, and thus also subsequently on the global economy. Consumer behavior The consequences are obvious and are already impressively observable. However, we cannot reliably assess the overall impact at this time. We will have to wait and see how things develop in the coming weeks.

The World Economic Forum in Davos begins today, and the Gold price skyrockets to an incredible 140 euros per gram. When one considers the impact of these developments, the effects of tariffs, of whatever kind, almost fade into the background.

„"The fact is that we need to tap into new markets. The arrival of Mercosur and the trade agreement with Indonesia are important first steps in this direction. However, in my view, the most important thing is that we strengthen our domestic markets. This is what European trade fairs, especially the upcoming one, are doing." Inhorgenta 2026 is so important to us.“

Guido Grohmann, BVSU Managing Director

bv-schmuck-uhren.de