[The Luxury Journals] The editorial by Claire Domergue : A two-speed watch market

The global pandemic in 2020 led to repeated containment measures, causing temporary closure of stores and a halt in global tourism.

 

Many sectors suffered, such as the Swiss watch industry, which has since seen a solid recovery to pre-pandemic financial levels, driven by China and the United States. The health crisis has nevertheless highlighted disparities between a few independent brands that currently dominate the market and the rest of the industry. Patek Philippe, Rolex, Audemars Piguet and Richard Mille – the four major independent brands in the industry – account for 55% of the profits of the luxury watch industry, and are creating a gap with the rest of the industry, developing a two-speed market.

 

Indeed, the very high end of the market, in other words watches sold for more than 7,500 francs, stand out with a greater progression and an increase in exports, leaving the entry and mid-range on the sidelines.

 

As a result, the emblematic models of these four watchmaking companies have become highly coveted investment objects for collectors, resulting in a scarcity of supply and a surge in prices for the second-hand market

 

You are reading an editorial published in the special Geneva Watch Week 2022 issue of Luxury Journals by Luxus Plus – #3

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Read also > [THE LUXURY JOURNALS] JEAN-CHRISTOPHE BABIN (BVLGARI): «I AM PROUD THAT AN ITALIAN COMPANY HAS MANAGED TO REINVENT SWISS WATCHMAKING»

 

Featured Photo : © Luxus Plus

 

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Claire Domergue
Claire Domergue
Founder and director of the publication Luxus +, Claire Domergue is a specialist in luxury marketing. Before founding the news media specializing in the luxury economy, Claire Domergue worked for more than seven years in the field of communication for the big names in the sector.

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