SIHH – Presentation of the preliminary World Watch Report 2013

At the Salon International de la Haute Horlogerie (SIHH) in Geneva every year the World Watch Report is presented by the Digital Luxury Goup (DLG). Since 2004 the company provides in cooperation with the Europe Star and the Fondation de la Haute Horlogie, the leading market research for the luxury watch industry. The Fondation de la Haute Horlogie was founded in 2005 by several well-known Swiss watch brands to maintain the tradition of the Haute Horlogie. The report will be presented at the SIHH is a preliminary report that examined 18 different brands. The full report will be presented in April at Baselworld and will include the results of more than 60 brands.

The development of the Haute Horlogerie market

The global market of the Haute Horlogerie, the market for traditional luxury watches, has a growth rate of 7%. That is a significant increase for the luxury watch manufacturer and a good outlook for the coming year. The analysis of the 20 markets shows quite clear that the market of the BRIC countries and the Asia is expanding. Currently their percentage is at 50%. Also the highest market growth comes from these countries: Russia leads with 41%, followed by Brazil with 30% and India with 18%. But the Chinese mainland shows also a strong growth with 31% in the industry of Haute Horlogerie. In contrast to the emerging markets the U.S. and Japan show the first time a decline. The U.S. with 11% and Japan with 12%.

Which luxury brand is the market leader?

Among the 18 brands, Patek Philippe presents the winner with the largest market share of 23.6%. Followed by the brand is the well-known brand Jager LeCoultre and Vacheron Constantin with 12.7% and 12.6%. But whose growth is the fastest? Which brand had a 61% growth rate in 2012, when the average growth rate of the market was only 7.1%? That can only be one luxury business: exactly! Richard Mille. The world’s most popular model is of Royal Oak by Audemars Piguet with a market share of 13.55%. The model is followed by the model Reverso of the brand Jager LeCoultre.