WORLDWATCHWEB
THE WORLDWATCHREPORTTM 2014 HAUTE HORLOGERIE PREVIEW Laetitia Hirschy, International Intelligence & Communications Manager, Digital Luxury Group
The preview of the Haute Horlogerie section of the WorldWatchReportTM 2014, which was presented by Europa Star’s Digital Partner, Digital Luxury Group, at this year’s SIHH and covers 18 brands, confirms that interest in high-end watchmaking remains healthy, with 12 per cent growth in the online interest for high-end watch brands, continued strong interest in China (despite decreasing sales) and signs of recovery in the US and UK.
Patek Philippe consolidates its leadership in the segment, while GlashĂźtte Original and Vacheron Constantin showed the biggest year-on-year improvements, with Richard Mille failing to capitalise on its astonishing 61 per cent growth last year. Haute Horlogerie brands continue to grow rapidly (+12 per cent). Interest in Haute Horlogerie is here to stay. The highest-end category of luxury watches experienced double-digit growth in
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global interest. “This marks the fourth year in a row that we’ve observed the category increasing in the WorldWatchReportTM, showing the continued strength of Haute Horlogerie within the overall market.� Comments David Sadigh, Founder & CEO at Digital Luxury Group. Despite decreasing sales in the mainland, interest for luxury watches still booming in China. Chinese consumers showed the strongest global interest for Haute Horlogerie with a 57.9 per cent increase versus last year, accounting for over 30 per cent of total interest in the segment. According to David Sadigh, Founder & CEO at Digital Luxury Group: “Despite lower reported sales in the mainland, Chinese consumers’ interest for Haute Horlogerie watches continues to grow. This love story is not ready to end anytime soon and will continue to drive a substantial amount of sales outside of China.�
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US and UK showing signs of recovery. The second and third biggest players in the segment showed signs of rebound since last year’s decreases.
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u HAUTE HORLOGERIE SEARCH MARKET SHARE AND GROWTH RATE IN 2013
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p Haute Horlogerie brands continue to grow rapidly (+12%) p BRIC markets retain high growth rates (Brazil +7%, Russia +15%, India +20%) p Mainland China on its own consists of 34% market share, increasing by +58% vs. 2012 p UK and US rebound after slow-Âdown the previous year.
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Š Digital Luxury Group, DLG SA, 2014