Luxury Watch Industry Analysis

It is expected that the market for so-called “wearables”, or items of clothing with built-in technology, move $12.6 billion in 2018

Luxury Watch Industry Analysis 1

São Paulo-Smartwatches aren’t exactly new, but it was last year, with the launch of the Apple Watch, they began to gain more attention of the Watch .

It is expected that the market for so-called “wearables”, or items of clothing with built-in technology, move $12.6 billion in 2018, according to data published in the word Statista statistics portal.

Last year, the specific market of smartwatches had a growth of 17%.

For some brands, the investment in technological watches is a way to reunite the young audience, which was more used to consume wrist accessories.

“The industry was moving away from young people and I think the smartwatches could not be better to bring them back,” says Freddy Rabat, local distribution partner of TAG Heuer in Brazil.

Luxury Watch Industry Analysis 2

“When they get used to having something on her wrist, is a step to opt for other more traditional models.”

Like Hugo Boss watches, the Swiss TAG Heuer was one of the first brands to launch your own smartwatch clock, the TAG Heuer Connected that works with Android system and should hit the Country in July.

As part of the strategy, the brand will allow the smartwatch clock is “recycled”.

After two years of use, average lifetime of a technological watch, the consumer can change the meat for a traditional analog for a much lower cost than entry models of the brand.

“It’s a way to adjust also the tradition of the luxury market, in which the concept of inheritance, to spend the part of father to son is part of the business,” explains Rabat.

The Group’s international brands Manager Technos, Laura Goretti, have vision like Rabat and cites the experience of the Fossil, which noted that 71% of consumers of your smartwatches line, the Fossil Q, not used to buy watches.

Launched in October last year and with ETA to Brazil for October this year, the line adds three versions with different levels of interactivity and functionality.

Luxury Watch Industry Analysis 3

For 2016, the expectation of the brand is that 10% of sales come from the segment.

In addition to the traditional names of the watchmaking industry, brands are betting on fashion-related trend. In the case of Michael Kors, you should throw your first smartwatch clock in October, with ETA to Brazil in the first half of 2017.

The Hermès is another bet on the market, not necessarily manufacturing your own model, but with a partnership with Apple to create a luxurious version of the Apple Watch (with bracelets and stylized box).

Other brands such as Diesel, Emporio Armani, Kate Spade and Skagen must also launch their models in 2017.

“The brands understand that technology is here to stay and modernize the industry, bringing back the youth and pleasing to the older”, believes Laura Goretti, the Fossil.

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