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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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