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Is this the beginning of the end of horological boom?

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This report filed in FT seems to suggest that China's market growth fueling the Swiss watch industry is starting to slow down. The horological markets overall globally has had phenomenal growth over the past two decades. But with all things commercial, there will be cycles of boom and bust. Unless the new markets such as Russia, India and South Americas grow faster to take up the supply of watches, brands may find itself reporting a much smaller annual return in 2014.

The brands however will realise that this is not just impacting on watch industry but on luxury items as a whole. When economic growth is reported, luxury growth will always follow. During downturns of the economy, most of the products are usually acquired by those who are financially stable and collectors. The real challenge for brands is to keep these high net worth collectors interested in their new offerings when many owners are putting their own watches in the secondary market during a downturn.

But at least for the moment, FT is not anticipating a worldwide slowdown. Not immediately at least. So I am curious how brands that are highly invested in China are going to respond.


FINANCIAL TIME REPORT - Luxury goods sales slow as China clamps down on gift giving

Friday, May 17, 2013 posted by Harry SK Tan  0 Comments

 




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