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.
Farfetch, the luxury e-commerce prodigy
In the space of a year, Farfetch has become the one to watch in luxury e-commerce, a position confirmed by the billion-dollar investment by Richemont and Alibaba in the company, which is still reporting losses, and by its share price performance. In the twelve months to February 18, Farfetch stock gained almost 450%.
Luxury stocks climb higher and higher
Strong increases in share prices reflect investor sentiment that the luxury industry has already bounced back from the Covid-19 crisis, with record valuations.
Watchmakers measure their impact on the oceans - Part two
For brands that have made dive watches a speciality, safeguarding the oceans is high on their list of commitments to sustainable development.
Watchmakers measure their impact on the oceans - Part one
For brands that have made dive watches a speciality, safeguarding the oceans is high on their list of commitments to sustainable development. A tool devised by Fondation de la Mer in collaboration with Boston Consulting Group means they can now measure their impact and progress.
Luxury’s immediate future is in jewellery
As confirmed by Richemont’s third-quarter results, jewellery sales remain strong to the point that jewellery is the most promising segment in the personal luxury goods market. Driving this growth: changing purchasing patterns and soaring demand among Chinese customers.
Luxury market expected to grow 15% in 2021
After a forecast decline of 23% in 2020, Bain & Co expects the personal luxury goods market to gain in the region of 15% this year. All eyes are on the evolution of Covid-19, macroeconomic factors and the return of international travel.
