Chairs of London Bond Street is still silent. The one-time UK headquarters for foreign tourists who want to invest more in high-end watches relies on a very small market, and consumers are more likely to seek out this special purchase than to spend a fortune.
Although they only look at a small section, the world of high-end watches is always looking outward, the names of which are a common language wherever you may be in the world. But Covid-19 has changed that, perhaps for a long time.
In the face of last year’s crash, many high-end brands, including Audemars Piguet, Hermès, and Rolex, suspension production looking at changing existing stocks. Swiss watch exports is down.
But most can change in a year. In June 2021, the Federation of the Swiss Watch Industry, which heads a trade group, also estimated exports were about CHF 2 billion ($ 2.15 billion), surpassing 2019 by 12.5% and representing a 71% increase over June 2020. Richemont The Group (which includes Cartier, IWC, Jaeger-LeCoultre, and Montblanc) has seen the price of its shares rise sharply. The Swatch team (Omega, Hamilton, Tissot, and others) saw their share price go back to normal before the plague. Swiss watches, a UK retailer that has grown in the US market and was listed on the LSE in 2019, are trading at a very high level, with prices rising 78 percent in the last six months.
Not all the names are always good. The pre-existing market, formerly part of the world of luxury watch, is growing. One of its biggest players, Chronext, is expected to launch an IPO in October and hopes to raise $ 247 million but since then. delayed these policies, citing negative market trends. Chronex connects European companies in various areas in the development of ice plans amidst global volatility, due to rising electricity prices and faster inflation than expected. As soon as the company registers, however, the Chrono24-based watch market is expected to follow.
“I’m not surprised how quickly the customers embraced the owners,” said Chronext CEO and co-founder Philipp Man. “Managing this critical growth is the next generation of consumers, with a new high definition and a new way of shopping.” One describes the new buyer as one who wants to have access to even the most sought-after models and wants to be available quickly — something that can be read as a direct opposition to brands like Patek and Rolex, with long waiting lists, shortcomings as usual, and — surprisingly — no way ecommerce specifications. Man says the future of the companies lies in the hands of Generation Y and Generation Z (or Zoomer) customers, who have digital skills and expect brands to be online if that is the case.