For luxury brands to capture and hold the attention of Asia's luxury shoppers, they must listen to fans, go behind the scenes of social media and connect with commerce.
Articles on the subject: Economy
The outbreak of coronavirus could weigh heavily on watch brands' bottom line, given that the traditional Lunar New Year spending spree didn't happen. Asia, excluding the Middle East, accounts for 44% of Swiss watch exports, suggesting a chaotic year ahead.
Are sustainability and ethics reshaping the market for gem-quality diamonds? That the world's biggest diamond mining company, De Beers, has started selling jewellery made with lab-grown stones suggests the industry is taking these issues seriously. So could diamond mines become a thing of the past?
A struggling brand in 2015, in the past two years Gucci has seen exponential growth in the region of 40%. This extraordinary performance owes much to creative director Alessandro Michele, the man behind today's baroque, ethical and connected Gucci. Millennials love it.
Richemont has found a partner of choice in Alibaba to develop its Net-A-Porter and Mr Porter online platforms in China. With the biggest IPO in history and 600 million users to its name, Alibaba is behind more than 50% of e-commerce in its domestic market.
Luxury watches hold strong appeal in China, prompting brands to find new ways of tapping into this market. After experimenting with solutions such as WeChat and e-commerce platforms, more and more brands are using influencers to reach new customers.
Increasingly, watch brands are taking environmental concerns into consideration, from renewable energy to soft mobility solutions. This is a natural progression in an industry focused on the long term.
China is one of the major growth engines for the luxury industry in general, and for Swiss watches in particular. The country is also the third-biggest exporter of watches in value terms. Should the Alpine nation be concerned?