While some may see the glass as half-empty, for others it is clearly half-full. The Federation of the Swiss Watch Industry (FH) is one such optimist.

Who will be hit by the crisis as it sets in? Will it be long-term or short-lived? These are the questions currently haunting watch companies, in particular those whose mid-range positioning leaves them more exposed on export markets, as figures from the Federation of the Swiss Watch Industry show.

Chopard signifies the production of 75,000 pieces of jewellery and 75,000 watches each year; Chopard also means 700 people in Geneva, 130 at Fleurier's manufacturing plant and 1,750 across the world. The company, which today lays claim to full integration of all the watchmaking trades, has joined the Fondation de la Haute Horlogerie (FHH). Here is an interview with Chopard's co-president, Karl-Friedrich Scheufele. Interview by Christophe Roulet

Early November, the FHH is inviting CEOs of Fine Watch brands to its first think-tank and forum on the theme "the changing business of time." The forum sets out to define what will inevitably be the new contours of the luxury industry.