Luxury Portable Consumer Electronics in Mexico

PROSPECTS

Smartwatches are making luxury wearables tick

Luxury smartwatches are registering strong growth in Mexico thanks to good performances from wearables such as Michael Kors Access, Montblanc Summit and TAG Heuer Connected. Luxury timepiece manufacturers are banking on maintaining their positioning of exclusivity in luxury wearables, while also providing consumers with connectivity functions such as call and message alerts and fitness apps.

Smart jewellery less likely to go the distance

One of the key features of wearable products is the capability to monitor one’s health. With increasing consumer health-awareness, wearables are the perfect way to continually track health conditions.

No reception yet for luxury mobile phones in Mexico

Sales of luxury mobile phones are negligible in Mexico, despite general growth in mobile phone sales. High-end mainstream brands such as Samsung Galaxy and Apple’s iPhone remain the preferred models among high-income consumers, who tend to update their mobiles to the latest model available in the market.

COMPETITIVE LANDSCAPE

Michael Kors can Access more Mexicans through lower prices

Launched at the end of 2016 as the first luxury wearable available in the country, Michael Kors Access remained the leading brand in 2018 despite the very strong entrance of its closest competitor, Emporio Armani Connected. Michael Kors Access is distributed through department stores and jewellery and watch specialists as well as internet retailers.

Montblanc aims for the Summit while TAG Heuer drives into the golf range

In the fourth quarter of 2018, Montblanc launched the Summit 2 smartwatch, distributing it through department stores, Montblanc boutiques and the brand’s internet retailing web page. Despite being a modern connected electronic, the smartwatch includes design elements inspired by the Montblanc 1858 collection, in order to provide a contemporary device without losing the traditional elegance of the brand.

Hublot celebrates the World Cup with a Big Bang

To celebrate the 2018 FIFA World Cup, Hublot launched the Big Bang Referee wearable. Besides its traditional connectivity functions, the smartwatch offered the possibility to follow participating football teams by receiving related information, including reminders before their games started and notifications of goals and final scores.

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