Exclusive extracts from this 68-page-long report:
- Who are the key players?
The Swiss watch industry has historically dominated the industry. In recent years, it has reinforced its high-end positioning, exporting mainly to Europe and Asia. A strong Swiss franc, which has made Swiss exports more expensive, has impacted watchmakers, forcing leading companies to either raise prices or cut costs. Fierce competition between groups has accelerated industry consolidation, with Swiss groups, Richemont and Swatch, the world's leading companies. [...]
Groups analysed in this report include: Richemont, The Swatch Group AG, Chow Tai Fook Jewellery, LVMH, Tiffany & Co., Fossil Group, Titan Company Limited, Seiko Holdings Corporation, Kering and Citychamp.
- What are the players' strategies?
The watchmaking and jewellery industry has long refused to commit to online business, arguing that the luxury purchase experience can only be provided in-store. However, a growing appetite for online shopping among millennials and Chinese consumers has led watchmakers to reconsider their position and develop online sales channels. While purchases can increasingly be made online, watchmakers' websites still aim to drive consumers to stores.[…]
- What are the players' key growth and profitability drivers?
Titan Company Limited is a joint-venture between the TATA Group and the Tamil Nadu Industrial Development Corporation (TIDCO) which started operations in 1984 in the watch business. Titan is TATA's largest consumer company and India's leading producer and retailer of watches, jewellery and eyewear. […] Titan makes more than 80% of its revenue from its jewellery segment, mainly from its Tanishq brand, and is still mainly focused on its home market, which accounts for 98% of total net sales.