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Rolex shuts all plants and prepares for worst year ever

SINGAPORE/GENEVA: The Swiss watch industry has survived lickings before, but Rolex, Omega and Cartier now face a combination of economic punches putting them back on their heels. The industry was just adapting to the downturn from political protests in its largest market, Hong Kong, when the coronavirus outbreak hit. Now China’s economic slowdown threatens to engulf the rest of the world.