Key vendors are entering the e-commerce segment to expand their visibility and facilitate online sales and support.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors in the global watch market in their latest research report. This report also lists 18 other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The leading companies dominate the global watch market. Competition between these vendors is intense regarding product differentiation, portfolio, and pricing. Product pricing and innovation will play a key role in driving the market.
According to Poonam Saini, a lead analyst at Technavio for research on retail goods and services, “Intensifying competition, has led manufacturers to launch innovative new products to meet the changing demands of customers by the latest fashion and lifestyle trends. Vendors are using celebrity endorsements and fashion events to display their new product offerings. They are also entering the e-commerce segment to expand their visibility and facilitate online sales and support.”
Click here to request a free sample of this report
Top five vendors in the watch market space
Fossil Group
Fossil is involved in the design, marketing, and distribution of consumer fashion accessories. The company offers men’s and women’s fashion watches and jewelry, handbags, small leather goods, belts, sunglasses, soft accessories, and select apparel. Its subsidiaries include Arrow Merchandising, Fossil Partners, Servicios Fossil Mexico, and Skagen Designs Retail UK.
Key products: Fossil, Relic, Abacus, Skagen, Zodiac Watches, and Michele Watch.
LVMH
LVMH is a luxury product company that manufactures and sells luxury jewelry and watches. The company also offers wine and spirits, fashion and leather goods, cosmetics, and fragrances. It conducts its business through two segments which include retailing designed for customers who are international travelers (travel retail), and the retailing concepts represented by Sephora (a company in the beauty segment) and Le Bon Marche Rive Gauche (a department store in Paris).
Some key products: Zenith, Tag Heuer, Louis Vuitton, etc.
Richemont
Richemont is a luxury goods company that designs, manufactures, and distributes jewelry, writing instruments, watches, precision timepieces, and leather goods. It operates through three segments which include jewelry maisons, specialist watchmakers and other businesses which include Montblanc, Lancel, Alfred Dunhill, Chloe, Purdey, Shanghai Tang, Peter Millar, and other manufacturing entities.
Key products: Vacheron Constantin, Baume & Mercier, Jaeger-LeCoultre, A. Lange & Söhne, Cartier, Officine Panerai, IWC Schaffhausen, and Piaget.
Rolex
Rolex designs and manufactures watches for men and women. The company offers products through two segments that consist of men’s watches and ladies’ watches. Men’s watches are made of materials such as steel, yellow gold, steel and Everose gold, steel and platinum, platinum, and white gold. While women’s watches are made of different materials such as Everose gold and diamonds, white gold and diamonds, yellow gold, steel, and Everose gold.
Key products: Cellini and The Oyster Perpetual.
The Swatch Group
The Swatch Group is engaged in the design, manufacture, and sale of finished watches, jewelry, and watch movements and components. The company strategizes on expansion through qualitative distribution in all regions and increase its market share by implementing a strong marketing strategy. It manufactures all the necessary components to produce both mechanical and quartz watches.
Some key products: Omega, Longines, Tissot, etc.
Ask an analyst to know more about this report
A more detailed analysis is available in the Technavio report, ‘Global Watch Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Browse related reports
- Global Online Jewelry Retail Market 2017-2021
- Global Wrist Wearable Market 2016-2020
- Global Smartwatch Market 2016-2020
To read more press releases – click here
For any assistance or query, please contact our media team at:
media@technavio.com
US: +1 630 333 9501
UK: +44 208 123 1770
https://www.technavio.com/
