The Global Watch Market
The global Watch market is valued at 47400 million US Dollars (or 37.7 billion GBP) in 2018 and will reach 72200 million US Dollars (or 57.4 billion GBP) by the end of 2025, growing at a compound annual growth rate of 6.2% during 2019-2025. Luxury brand watches in the pre-owned market is one of the fastest growing segments, making watches a better investment when compared to jewelry.
When it comes to which watch brands are doing well, it will surprise nobody that Rolex is on fire, with demand hotter this year than at any time in living memory. Patek Philippe, which makes around 70,000 watches per year compared to more than a million for Rolex, is also booming.
The luxury watch industry has staged an impressive rebound from the watch crisis. Thanks to a decision to refocus on high-end products (in particular mechanical watches), the luxury watch industry benefited from a boom in demand for global luxury goods that began in the mid-1990s. In particular, the luxury watch industry owes its success to its foresight in actively targeting growth in emerging markets. Thanks to rising incomes and growing prosperity, other emerging-market countries besides China will offer substantial growth opportunities for the watch industry.
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