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MARKET OVERVIEW

1.1 Definition and scope of study

Among the sectors of the world economy that have best withstood the jolt inflicted by the pandemic is that of luxury watches: items that have not only continued selling but have also done so with better numbers than before the pandemic. When we speak about luxury watches we intend all the watches that due to their brand, their features or material in which they are made, have a pricing that collocates them in the luxury market. Luxury watches may be sold in the primary market in jewelries, in flagships store or online or in the secondary market. The latter has been growing rapidly in the last decades, more than the primary one, quoting the prices of some watches that are not so easy to find. The luxury watches are not only used as watches but also as jewels for adults. The most valuable watches are Swiss because of the history and expertise of the craftsmen. Luxury watches possess different technologies and movements, the more complex the movement the more valuable the watch will be. Many luxury brands in recent years, prefer to invest on the material of the watch, getting to adorn them with diamonds and precious materials, rather than paying attention to the movement. The most famous brans are: Rolex, Omega, Audemars Piguet, Patek Philippe, Richard Mille, Hublot, Cartier and Jaeger Le-Coutre.

In 2019, the worldwide luxury watch market was valued at USD 7.18 billion, with USD 7.48 billion predicted in 2020. The market is expected to grow at a CAGR of 4,3% during the next five years.

The luxury watch market in Italy replicated the good performance seen around the world, not only with good resilience to the impacts of the pandemic, but also with significant increases in sales, particularly online purchases. A position that was already bright before the global crisis, with the whole value of the luxury timepiece market in Italy reaching billion of euros in 2019, has seen a significant increase over the previous year's figures. In short, the industry appears to be doing well, even if sales practices are beginning to shift. In Italy the flagships store may be found in the biggest cities but also jewelers are important actors as resellers of new or second hand wacthes.

Due to the inability to visit physical establishments during the lockdown, online purchases have exploded, with double-digit growth rates for purchases made on web-based platforms. The most famous in Italy is Chrono24, with an annual turnover exceeding 800 million euros. 

ANALYSIS OF THE DEMAND

MARKET STRUCTURE

ANALYSIS OF THE OFFER

REGULATION

POSITIONING OF THE ACTORS

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Analysts

Hugo S.

chargé d'études économiques, Xerfi

Hugo S.

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Mathieu Luinaud

Associate Consultant

Mathieu Luinaud

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Education Formation
Robin C.

PhD Industrial transformations

Robin C.

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Pierre D.

Analyst

Pierre D.

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Arnaud W.
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Ross Alumni Club France

Arnaud W.

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Amaury de Balincourt
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Analyste de marché chez Businesscoot

Amaury de Balincourt

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Pierrick C.

Consultant

Pierrick C.

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Maelle V.

Project Finance Analyst, Consulting

Maelle V.

Héloise Fruchard

Etudiante en Double-Diplôme Ingénieur-Manager Centrale

Héloise Fruchard

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Imane E.

EDHEC

Imane E.

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Vincent D.

Auditeur

Vincent D.

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Eva-Garance T.

Eva-Garance T.

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Michela G.

Market Research Analyst

Michela G.

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Azelie P.

Market Research Analyst @Businesscoot

Azelie P.

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Cantiane G.

Market Research Analyst @Businesscoot

Cantiane G.

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Jules D.

Consultant

Jules D.

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Alexia V.

Alexia V.

Emil Ohlsson

Emil Ohlsson

Anna O.

Anna O.

Gabriel S.

Gabriel S.