For certain brands, growth isn't about selling more but selling better. Audemars Piguet was first to put a limit on production, successfully so. Now Roger Dubuis and Panerai are following suit.
Articles on the subject: Economy
Bucherer's newly-opened Gallery in Geneva is entirely focused on pre-owned watches. As well as buying and selling, this lounge space will host events aimed at renewing the purchasing experience for a new generation of watch enthusiasts, through a concept Bucherer plans to roll out to other locations.
From YouTubers “flexing’” their luxury goods to a new generation of more conscious clients, perceived value in Fine Watchmaking is a hot topic.
Swatch Group is struggling to convince investors. Its share price has been virtually flat since January, after losing 42% over the last seven months of 2018. Richemont, in comparison, is making headway. Meanwhile, French luxury groups are flying high.
The latest report on the Swiss watch industry by US investment bank Morgan Stanley, in association with Swiss consultancy LuxeConsult, points to accelerated polarisation within the sector. The main players are growing at significantly higher than average rates while seeing their market share increase.
In January, JD.com, China’s second-largest e-commerce platform, announced a strategic investment in Xinyu Group, China’s biggest offline watch retailer. The partnership will give rise to China’s largest watch retail alliance, if not the largest in the world.
From one year to the next, the Richard Mille brand maintains an enviable 15% growth rate. After CHF 260 million in 2017, last year the brand generated revenue in excess of CHF 300 million, having produced 4,600 watches. The objective for 2019: 5,200 watches and further incursions into the art world.