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 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.
During the crucial end-of-year period, Richemont increased sales by 6%. This is excellent news for the group, which has more than made up for the headwinds in Hong Kong that are buffeting every segment of the luxury market.
The Race for Water teams have reached Asia, where they continue their mission – with Breguet as main sponsor – to clear the oceans of plastic waste.
Watch Art Grand Exhibition Singapore 2019 is the fifth Patek Philippe exhibition. For the 30,000 people expected to attend, it offers a unique chance to view exclusive watches and also admire the brand's vast expertise. Until October 13.
Product placements are a well-oiled marketing technique, but it can take more to convince today's sophisticated audiences than a celebrity wearing a beautiful watch. Breitling is paving the way with the Korean drama, “Memories of the Alhambra”.
Mammoth takeovers, serial partnerships, crowdfunding, new brands... in this year of renewed growth for the Swiss watch industry, the digital economy has become a vital relay for luxury.