A year of the rabbit for watch brands?
China, which weighed on watch exports at end 2022, will be the key to activity in 2023, a year that opens with mixed prospects. Will China’s impact on luxury sales be as great as in 2021?
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What next for the pre-owned market?
Once dismissed as a hang-out for unscrupulous traders touting fakes, in little more than a decade the pre-owned watch market has grown to remarkable proportions and is expected to surpass sales of new watches. Consultancy firm LuxeConsult predicts this reversal in roles for 2033.
Counterfeiting “costs” the Swiss watch industry CHF 2 billion
A recent OECD report shows that the watch industry is the main victim of the trade in counterfeit “Swiss” goods, losing CHF 2 billion a year in foregone sales.
Watch auctions feel the pinch in 2020
At CHF 316 million, watch auctions made 19% less in 2020 than the previous year, despite an increased number of sales including online. As noted by The Mercury Project, Phillips takes the top spot with a 39% share of the market.
Hainan is paradise island for Chinese duty-free shoppers
Hainan island – one of the stop-offs for Watches and Wonders 2020 – reels in tourists and Chinese shoppers with its beaches, palm trees and duty-free malls, a sector that is now opening to competition. Richemont is in the running through a collaboration with China Duty Free Group and a stake in Dufry.
Watches and Wonders 2021 - More than a digital platform: a dynamic hub for the industry!
Watches and Wonders 2021 confirms its agenda and strengthens its ecosystem through continued strategic partnerships. For ten days, watchmaking worldwide will be in the spotlight - online and offline - for this major event in the industry calendar, where the leading names take the stage and reveal their latest products for 2021. It’s all set so that wherever in the world they are, whatever the platform, visitors can enjoy the Watches and Wonders experience. From Geneva to Shanghai, as if you were there!
IWC’s chameleon strategy
The Schaffhausen watchmaker is proving remarkably adept at adapting to a more and more complex environment, aligning products and brand image… whatever the circumstances.
Watch brands rev up their automotive partnerships
Within days of each other, Girard-Perregaux, Richard Mille and TAG Heuer announced partnerships with prestigious car manufacturers. Breitling, IWC and Roger Dubuis already have successful automotive alliances. More about this meeting of mechanical minds.
