Who’s Buying Luxury Watches?

Watches account for about 25 percent of global luxury sales, so paying attention to high-end watches and who is buying them can tell you more than just the time. With Baselworld, the premier event for the watch and jewelry industries, wrapping up this week, we decided to ask Credit Suisse’s luxury goods analyst Rogerio Fujimori to break down the market for these unique timepieces. Unsurprisingly, Fujimori expects continued strong demand from China, which accounts for about 30 percent of global Swiss watch exports. The U.S. market should also grow stronger this year, Fujimori said. In the years to come, consumers in countries such as Brazil, India and South Africa should make up a growing proportion of the market, ensuring that the exclusive club of luxury watch aficionados is truly a global one.

 

 

Photo courtesy of Fonderie 47

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