The luxury watch market has faced significant challenges in recent years, particularly during the prolonged downturn coinciding with cryptocurrency’s volatile journey. However, recent surges in Bitcoin’s value are stirring hopes of a renaissance for high-end timepieces. As cryptocurrency gains traction once again, the implications for luxury watch brands and their clientele warrant a closer examination. […]
Watch Industry Failing to Create Desired Models for Women, Survey Finds
The watch industry is currently grappling with a significant disconnect between its product offerings and the preferences of female consumers. A recent survey conducted by Deloitte, in collaboration with the nonprofit group Watch Femme, paints a concerning picture: an overwhelming 85% of respondents believe that the watch market is not producing enough timepieces that appeal […]
How Grand Seiko Is Seizing Japan’s Luxury Shopping Moment
As global travel returns and tourism surges, Japan has seen a remarkable influx of shoppers eager to take advantage of its luxury offerings and the weaker yen. Among these consumers is a growing appreciation for high-end watches, particularly from the Seiko Group’s premium brand, Grand Seiko. This Japanese watchmaker, often dubbed the “Japanese Rolex,” is […]
Swiss Watch Exports Plunge as Chinese Demand Dries Up
In a significant blow to the luxury watch market, Swiss watch exports saw a staggering decline of 12.4% in September 2024, marking a troubling trend for an industry once considered resilient against economic fluctuations. The primary catalyst for this downturn is a notable 50% drop in shipments to China, a country that has been a […]
Used Luxury Watch Prices Stabilise, Boosted by Patek Philippe
The used luxury watch market is showing signs of recovery as prices have marginally increased, marking a shift after a prolonged period of decline. The Bloomberg Subdial Watch Index, which monitors the 50 most traded watch models on the secondary market, registered a 0.1 percent rise in September, primarily driven by Patek Philippe’s impressive performance. […]
Watches of Switzerland Acquires Hodinkee
Watches of Switzerland Group Plc has officially declared its acquisition of Hodinkee Inc., a prominent US-based watch enthusiast platform known for its high-quality editorial content and backed by high-profile investors, including LVMH and NFL star Tom Brady. This strategic move not only aims to boost the British company’s online presence in the US market but […]
Richemont Chairman Says Luxury Watchmakers Must Cut Production
In a critical address to shareholders at Richemont’s annual general meeting, Chairman Johann Rupert emphasized the need for the luxury watch industry to reduce production in light of declining demand. This significant shift comes after years of unprecedented sales growth, particularly during the pandemic. Rupert, also the founder of this Swiss conglomerate—which includes renowned brands […]
Ulysse Nardin and Girard-Perregaux Chart a Post-Kering Future
The luxury watch industry is currently witnessing a pivotal transformation, particularly for brands like Ulysse Nardin and Girard-Perregaux, which have found themselves navigating through challenges stemming from a slowing market post-acquisition from Kering. CEO Patrick Pruniaux is strategically positioning these historic brands for renewed growth and independence, leveraging their rich heritage to foster a new […]
Swiss Watchmakers Seek State Aid Amid Luxury Downturn
In an unexpected twist, Swiss luxury watchmakers are turning to government support to combat a downturn that is shaking the foundations of the prestigious industry. As brands such as Girard-Perregaux and Ulysse Nardin actively participate in a state program aimed at preserving jobs, the luxury watch sector faces a challenging reality. The Sowind Group, which […]