Luxury Timepieces in Sweden

PROSPECTS

Rising disposable incomes drive the growth of luxury timepieces

Luxury timepieces have always been a status symbol in Sweden. A strong economy, characterised by rising disposable incomes, low rents and soaring house prices, has helped to drive sales in recent years.

Swedish women paying more attention to luxury timepieces

Swedish women’s interest in luxury timepieces has increased in recent years. With the introduction of the mobile phone, the watch has outlived its use for merely telling the time.

Luxury smartwatches still need time to become established in Sweden

High-end luxury timepieces will continue to face limited competition from other products such as luxury wearables, which have been struggling to gain any significant momentum. However, with increasing development in smartwatches, luxury wearables could pose more of a threat in the future, although there is nothing to suggest that this will happen over the next few years.

COMPETITIVE LANDSCAPE

Swatch Group and Rolex remain the leading players but facing increasing competition

Rolex remained the leading brand in luxury timepieces in 2017, although its value sales fell. Rolex and other Swiss watch brands should grow in the future as the turmoil surrounding the appreciation of the Swiss franc in 2015 seems to be subsiding.

Competition from unauthorised dealers exacerbated by internet retailing

Unauthorised internet retailers represent another purchasing option in Sweden, serving to increase competition in luxury timepieces. The main reason behind the success of unauthorised retailers is their cheaper prices.

Fashion houses showing an increasing interest in luxury timepieces

Over the review period fashion houses showed an increasing interest in luxury timepieces, partly due to offering higher profit margins than apparel. Initially, they focused on bags, but then moved on to watches.

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