Luxury Portable Consumer Electronics in Malaysia

PROSPECTS

Strong growth continues to attract new brands and players

Luxury portable consumer electronics sales continue to be boosted by the rising penetration of luxury fashion brands such as Louis Vuitton and Bvlgari. As demand for electronic wearables continues to increase strongly in Malaysia, brands are introducing a growing number of new luxury smartwatches from fashion houses and traditional watch makers, such as Louis Vuitton Tambour Horizon and TAG Heuer Connected.

Strong competition from non-luxury brands

Non-luxury brands like Apple, Samsung, Garmin and Fitbit continue to compete intensely with luxury brands, mainly because they are generally more affordable. In addition, non-luxury brands tend to offer a wider range to choose from, with many consumers not seeing the need to spend on luxury brands such as Vertu and Huawei Porsche Design.

Producers target younger consumers with innovative technology

Leading brands continue to invest in technological advancement in order to drive growth within luxury wearables, with sales being generated from luxury new upgrades such as Louis Vuitton Tambour Horizon. The next generation of Louis Vuitton’s Tambour Horizon smartwatch is set to feature Qualcomm’s newest wearable chipset, the Snapdragon Wear 3100, and is projected to prove popular among customers that are tech-savvy.

COMPETITIVE LANDSCAPE

Investment in development and marketing ensures international players lead sales

International luxury fashion brands continue to lead sales, benefiting from active investment in new launches in luxury smartwatches. New ranges include Louis Vuitton Tambour Horizon and the latest Michael Kors offering, which is based on two of Michael Kors’ best-selling platforms, the Lexington 2 and Bradshaw 2 smartwatches, which feature glamorous designs with enhanced technology.

Specialised monobrand stores continue to grow in popularity due to excellent service

Luxury portable consumer electronics in Malaysia are distributed by both online platforms and physical outlets. The main distribution channels continue to be consumer electronics outlets like official stores, as well as specialists like DirectD.

Growing competition from online players

On the other hand, players within the online channel continue to slowly gain ground. Internet sales platforms like Bodying.

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