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.
2021: a year of luxury M&A
Several major transactions involving luxury companies took place in the last quarter 2020, with analysts forecasting more mergers and acquisitions activity in the months to come. Luxury titans, private equity investors and Chinese conglomerates are leading the fray.
China leads luxury into 2021
As Swiss watch exports rallied in the last months of 2020, China’s insatiable appetite for luxury is on track to dominate the global market well into the future.
A look back at 2020 in watches
Over the past twelve months FHH Journal has reported on watch industry news, covering everything from the markets to brands and their products. Here, in brief, are some of the events that marked this unusual year.
Coloured gemstones, another facet of responsible practices
While sustainable practices are gaining momentum in the gold and diamond supply chains, for coloured gemstones the process is still in its infancy. In an extremely fragmented industry, progress is nonetheless being made.
An exclusive partnership between Blancpain and Oceana
The Swiss watchmaker supports the ocean conservation group’s advocacy efforts to restore marine ecosystems. This three-year partnership includes an expedition to Mexico’s Scorpion Reef, a UNESCO biosphere reserve.
Top spot for online luxury up for grabs
Switzerland’s Richemont, China’s Alibaba and France’s Artémis (Kering) are to invest over a billion dollars in British marketplace Farfetch in a bid to dominate the Chinese online luxury market. The race with Amazon is on.
