Do sales in the last few years support the existence of a gravy train? I don't really know, but I thought they'd been having rather hard times in the watch world.
Anyway, I'm fine with that - there are always new brands trying to fill the created voids in the market, often by trying really hard with great value-for-money products which would cost a lot more from a "name" brand; similarly, the selling of watches direct from the manufacturer (or assembler, anyway), thus stopping us having to go into places like Ernest Jones ever again :-)