Abstract
Luxury watch brands are competing amongst themselves for leadership in
delivering the most innovative piece. Watch brands are taking advantage of new
technologies such as robots and hi-tech coatings. New materials, such as
titanium and ceramics, are also being used in watch designs. A notable trend
is retailers asking fashion brands to design special watches exclusively for
their stores.
At present, Swiss-made watches are completely dominating the worldwide luxury
watch market contributing almost 100 percent share. These watches are exported
to most of the developed countries. However, rising incomes in emerging
markets have led to a new category of affluent young professionals with high
purchasing power. These countries have become a potential opportunity for
ultra expensive watch manufacturers.
Major luxury watch companies are trying to tighten the requirements by which
watches qualify as Swiss-made. Smaller companies view this move as an attempt
to force them out of market.
The global watch market is dominated by Swiss manufacturers. The three leading
Swiss companies are Swatch Group, Richemont and Rolex, representing the
largest share in the global watch market.
This report analyzes the luxury watch market and examines major trends
prevalent in the sector. Specifically, it analyzes the Swiss luxury watch
market and its export destinations. Apart from providing a competitive
landscape of the market, the report also profiles major luxury watchmakers in
Switzerland with a discussion of their key business strategies.
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