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2014
MEDIA
PARTNER
10th Edition
Published in partnership with Europa Star and the gracious support of the
Fondation de la Haute Horlogerie
Despite a slowdown in sales in Asia, global consumer demand for luxury watches grew by
+5.7%.
The Chinese luxury market is not dead: Interest in all luxury watch categories continues to
escalate, led by Omega, Cartier and Rolex.
The Brazilian market fails to deliver amid high expectations (-2.9%) ahead of an important
year for luxury watch brands in the market (World Cup and Olympic Games in 2016).
Cie. Financire Richemont SA is the fastest growing conglomerate (+13% in online demand).
Ladies watches rise in popularity (+7.5%) led by China and Swatch Group brands.
Mobile Revolution: Instagram is the most engaging social media platform among watch
aficionados with nearly three times Facebooks average engagement rate, while in China,
searches for Haute Horlogerie brands using mobile phones increased by +120% according to
exclusive data shared by Baidu.
Russia: 1.59%
" +20.43% (y/
y)
Germany: 7.04%
! -9.25% (y/y)
United Kingdom: 10.04%
" +3.12% (y/y)
Mexico: 1.58%
! -9.32% (y/
y)
France: 5.92%
! -3.42% (y/
y)
Spain: 1.98%
! -16.24% (y/
y)
Switzerland: 1.82%
! -11.87% (y/y)
Italy: 5.61%
" +8.85% (y/y)
Brazil: 2.14%
-2.91% (y/
y)
Japan: 9.01%
! -5.54% (y/y)
Qatar: 0.24%
! -17.26% (y/
y)
China: 23.25%
" +59.43% (y/y)
Taiwan: 0.76%
" +4.02% (y/y)
India: 3.03%
" +12.05% (y/
y)
Saudi Arabia: 0.54%
! -9.18% (y/y)
Thailand: 2.17%
! -8.60% (y/
y)
Singapore: 1.64%
! -8.45% (y/y)
Global demand was fueled once again by BRIC markets with the highest
year-to-year increases in: China (+59.4%), Russia (+20.4%) and India
(+12.0%).
The Brazilian market fails to deliver amid high expectations (-2.9%), ahead
of an important year for luxury watch brands in the market (World Cup and
Olympic Games in 2016). Despite growing international attention and key
events driving important brand related investments, the market predicted
to become the next big thing, fails to deliver on its promises.
Top 3 Models
Top 3 Brands
+59%
Constellation
Omega
Ballon Bleu
Cartier
De Ville
Omega
Prestige category brands lead with 23.25% of global interest and account for a total of 41.5% total
demand in China.
Digital Luxury Group, DLG SA, 2014
Richemont
+13.08%
Rolex
+12.02%
Swatch Group
+5.87%
Private
+1.49%
-0.97%
Kering (ex. PPR)
-4.88%
-5.43%
-18.71%
DKSH
Richemonts Maisons focus on Haute Horlogerie and Watch and Jewelry brands in its portfolio
benefited the group, thanks to rising interest in the categories globally (+13.2% and +13.0%
respectively) but especially among Asian markets and Chinese luxury travelers.
Haute Horlogerie
Watch and Jewelry
Prestige
Global
-1.38%
-3.99%
+13.16%
+12.95%
.
+6.17%
+5.72%
Couture
High Range
The Haute Horlogerie category grew the fastest (+13.16%) thanks to brands such as Glashtte Original
(#49, +35.27%), Ulysse Nardin (#30, +35.36%) and Vacheron Constantin (#13, +34.59%).
The Watch and Jewelry was the second best performing category, growing by +12.95%, thanks to solid
performances from Cartier (#4, +19.00%) and Piaget (#26, +26.46%).
Exposure to Asia played a crucial role in fueling categories growth with +23.66% and 43.14% of
- All calculations are based on the 62 brands featured in the report
demand respectively.
- Date range for all data is Jan-Dec. 2013 and Jan-Dec. 2012 for Y/Y evolutions
Digital Luxury Group, DLG SA, 2014
20.79%
20.62%
.
10.78%
7.42%
6.86%
5.27%
+35.36%
Glash]e Original
+35.27%
Vacheron Constantin
+34.59%
Tudor
+27.93%
Piaget
+26.46%
Patek Philippe
+22.10%
+20.82%
Jaquet Droz
+20.36%
Blancpain
+20.16%
Cartier
Global
-17.79%
Sinn
-18.83%
Louis Vui]on
-19.06%
Bovet
Bell & Ross
-19.71%
Montblanc
-19.89%
Concord
-23.51%
-23.90%
-26.40%
+5.72%
Ebel
-18.69%
-19.35%
+19.00%
Technomarine
Tiany & Co.
Frdrique Constant
Interests in Ladies watches are led by BRIC countries China (+145.50%), India(+27.65%) and Russia
(+11.67%).
Haute Horlogerie leads the growth trend (20.88%) thanks to brands such as Vacheron Constantin
(+66.2%). The Prestige brands come in second (15.31%) thanks to the contribution of Omega (+88.3%)
and IWC (+15.97%).
Luxury conglomerates generated more attention for ladies watches especially for those with large
market shares such as Swatch Group (25.15%, +47.76%), Richemont (19.97%, +13.29%) and Rolex
(26.51%, +7.91%).
Digital Luxury Group, DLG SA, 2014
Haute Horlogerie #1
20th Global
Prestige #1
1st Global
Couture #1
29th Global
High Range #1
35th Global
Ballon Bleu
Cartier
Royal Oak
Audemars Piguet
Submariner
Rolex
Digital Luxury Group, DLG SA, 2014
J12
Chanel
Jubil
Rado
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43'#"3$)
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Facebook Volume of Fans
!#!*"
!#!)"
Audemars Piguet*
!#!("
!#!'"
Raymond Weil*
Tag Heuer*
Girard-Perregaux*
IWC*
Carl F. Bucherer*
!#!&"
Harry Winston*
!#!%"
Hublot*
Franck Muller*
Maurice Lacroix*
Piaget*
Omega*
Roger Dubuis*
Frdrique Constant*
!#!$"
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'!!!!"
!"#$%&'(()%
Bulgari*
Chopard*
)!!!!"
+!!!!"
$!!!!!"
$%!!!!"
$'!!!!"
+",'$#-$&(./01&%(/2(3$",*
Among top 3 analyzed watch forums, Chinese platform iWatch365 captures the lion share with 58% of the
106 million total forum post views, followed by pioneer TimeZone (37%) and PuristSPro (5%).
All 3 forums considered, Rolex, Omega and Patek Philippe are the most popular brands.
Digital Luxury Group, DLG SA, 2014
Big Data
Digital Luxury Group, DLG SA, 2014
Big Insight
Franck Muller
Parmigiani
Audemars Piguet
Girard-Perregaux
Patek Philippe
Blancpain
Glashtte Original
Richard Mille
Bovet
Greubel Forsey
Roger Dubuis
Breguet
Jaeger-LeCoultre
Ulysse Nardin
De Bethune
Jaquet Droz
Vacheron Constantin
Compared to 2012, we observe a market with +120% mobile growth in China in 2013
Mobile searches account for 39.1% of total searches in 2013
HAUTE HORLOGERIE MOBILE RANKING & GROWTH VS. PREVIOUS YEAR (2013 vs. 2012).
Brand
Brand
Patek Philippe
Richard Mille
Vacheron Constantin
Ulysse Nardin
Jaeger-LeCoultre
Girard-Perregaux
Audemars Piguet
Franck Muller
Breguet
Audemars Piguet
Franck Muller
Jaeger-LeCoultre
Blancpain
Roger Dubuis
Jaquet Droz
Glashtte Original
Glashtte Original
Girard-Perregaux
10
De Bethune
10
Ulysse Nardin
11
Patek Philippe
11
Richard Mille
12
Vacheron Constantin
12
Jaquet Droz
13
Breguet
13
Roger Dubuis
14
14
Parmigiani
15
Blancpain
15
Bovet
16
Greubel Forsey
16
Greubel Forsey
17
Parmigiani
17
De Bethune
18
Bovet
18
BRAND COMPETITION.
In consumer searches, Patek Philippe and Vacheron Constantin are more correlated
than any other brand
German brands A. Lange & Shne and Glashtte Original are comparatively more
correlated
German brands
Multidimensional Scaling
Share of Searches
2013
Guangdong
11.9%
Jiangsu
8.4%
Zhejiang
8.0%
Beijing
7.6%
Shanghai
7.4%
Share of Searches
0% 1%
2% 3% 4% 5% 6% 7% 8%
TGI
Target Group Index TGIis used to measure density of searches which refers to the degree of search intensity
comparing with netizens average search intensity
- Mainland China Only - All calculations are based on the 18 brands featured in the report
Digital Luxury Group, DLG SA, 2014
As for previous searches, Brand and E-Commerce related keywords account for most
search volume respectively
After searching with keywords related to any of the 18 brands, 45.5% of Chinese consumers
last clicks are on Baidu, especially Baidu Knowledge. A considerable number of Chinese
consumers is satisfied by the information received after clicking on advertisements.
E-commerce ranks the second with 20.7% clicks, therefore, is crucial as well
Baidu
45.5%
Baidu Knowledge
E-commerce
19.8%
20.7%
12.4%
18.6%
NonBaidu
54.5%
Baidu Others
Vertical Websites
Others
13.3%
12.4%
2.8%
WHO ARE WE
Digital Luxury Group (DLG) is the digital partner of forward-thinking luxury brands. With offices in Geneva, New York
and Shanghai, DLG combines leading brand intelligence with bespoke digital marketing services. From creation to
implementation, we empower brand strategies with our proprietary data and research. For more information:
www.digital-luxury.com. Since 2004, DLG has been publishing the WorldWatchReport a baseline market study for
the watchmaking industry in partnership with Europa Star and with the precious support of the Fondation de la Haute
Horlogerie.
Contact:
Laetitia HIRSCHY
Kreaprod SA
www.kreaprod.ch