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Brands must now work harder to make a sale. Like every year and for now eight consecutive times, swiss watch industry consultancy firm luxeconsult and financial institution morgan stanley have worked together to. Sales of watches and jewelry at luxury giant lvmh rebounded in the latest quarter and continued to shine into january, according to several of the company's brand ceos.
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Luxury brands like patek philippe, audemars piguet, and richard mille are also on the rise, and together with rolex, they now control 47% of the market. Revenue in the luxury watches market is projected to reach us$6.61m in 2025. Today we’re looking at the state of the luxury watch market, with a guest post from watch expert marc montagne.
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Armed with pandemic savings in a low interest rate environment, wealthy shoppers stuck at home snapped up new luxury watches quicker than the swiss manufacturers could. When the crypto bubble popped in late 2021, it dragged the fine. After a year of declines, sales of watches and jewelry at luxury giant lvmh rebounded in the latest quarter and continued to shine into january, according to several of. The downturn in demand, led by cautious consumers in china, where there’s a real estate crisis, and the exit of speculative.
