Released mid-March, the third Morgan Stanley report, in collaboration with LuxeConsult, on the Swiss watch market shows that out of some 350 brands, the bulk of growth in 2019 came from the seven whose turnover exceeds CHF 1 billion. The analysis also highlights the outperformance of privately owned brands.
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The gap continues to widen between luxury watches and entry-level, resulting in a slight increase in total export value alongside a drastic decline in volume. Suppliers suffer as the sector becomes increasingly consolidated.
Patrick Pruniaux, CEO of Ulysse Nardin and Girard-Perregaux, believes watch brands, irrespective of size, fall into two categories: the exciting ones and the others. We found out more at Dubai Watch Week.
At $120 per share or €14.5 billion, LVMH's offer for Tiffany was judged too low. Now the battle is on between luxury mastodons, which includes Richemont and Kering, to take control of the storied American jeweller.
Brands have wised up to the benefits to be gained from associating their name with art venues and exhibitions; creative contexts whose audiences are also potential customers.
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.