全球奢侈手表行业市场前景及投资研究报告-培训课件外文版2024.6

INDUSTRIES

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MARKETSLuxurywatchindustryCHAPTER

01IndustryoverviewRevenueoftheluxurywatches&jewelryindustryWorldwide2018-2028(inmillionU.S.dollars)Revenueoftheluxurywatches&jewelryindustryWorldwide2018-202890,00080,00070,00060,00050,00040,00030,00020,00010,0000201820192020202120222023202420252026202720283Description:Theglobalrevenueinthe'LuxuryWatches&Jewelry'segmentoftheluxurygoodsmarketwasforecasttocontinuouslyincreasebetween2024and2028byintotal7.5billionU.S.dollars(+9.76percent).Aftertheeighthconsecutiveincreasingyear,theindicatorisestimatedtoreach84.8billionU.S.dollarsandthereforeanewpeakin2028.ReadmoreNote(s):Worldwide;2018to2028Source(s):ConsumerMarketInsightsRevenueoftheluxurywatches&jewelrymarketinCentral&WesternEuropefrom2018to2028(inmillionU.S.dollars)Revenueoftheluxurywatches&jewelrymarketinCentral&WesternEurope2018-202814,00012,00010,0008,0006,0004,0002,0000201820192020202120222023202420252026202720284Description:Therevenueinthe'LuxuryWatches&Jewelry'segmentoftheluxurygoodsmarketinCentral&WesternEuropewasforecasttocontinuouslyincreasebetween2024and2028byintotal929.2millionU.S.dollars(+7.86percent).Afterthesixthconsecutiveincreasingyear,theindicatorisestimatedtoreach12.8billionU.S.dollarsandthereforeanewpeakin2028.ReadmoreNote(s):Europe;2018to2028Source(s):ConsumerMarketInsightsRevenueofluxurywatchesandjewelryintheAsia-Pacificregionin2023,bycountry(inmillionU.S.dollars)RevenueofluxurywatchesandjewelryinAsia-Pacificregion2023,bycountry30,00024,502.4125,00020,00015,00010,0005,00009,442.384,157.212,349.21

2,235.812,154.81762.82441.68371.25142.35116.8993.9376.8311.54China

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Pakistan5Description:Comparingthe14selectedregionsregardingtherevenueinthe'LuxuryWatches&Jewelry'segmentoftheluxurygoodsmarket,Chinaisleadingtheranking(24.5billionU.S.dollars)andisfollowedbyHongKongwith9.4billionU.S.dollars.AttheotherendofthespectrumisPakistanwith11.54millionU.S.dollars,indicatingadifferenceof24.5billionU.S.dollarstoChina.ReadmoreNote(s):Australia,China,HongKong,India,Indonesia,Japan,SouthKorea,Malaysia,NewZealand,Pakistan,Philippines,Singapore,Vietnam,Thailand;Jan1sttoDec31st2023Source(s):ConsumerMarketInsightsEstimatedrevenueofthesecond-handluxurywatchesmarketworldwidefrom2014to2022,withaforecastupto2028(inmillionU.S.dollars)Second-handluxurywatchesmarketrevenueworldwide2014-20284,0003,668.293,471.083,5003,0002,5002,0001,5001,0005003,278.823,085.432,885.572,651.811,999.611,711.431,061.7

1,050.85826.712018642.722017543.972016475.422015436.872014020192020202120222023202420252026202720286Description:Therevenueoftheworldwidethesecond-handluxurywatchesmarketwasestimatedtobeworthapproximately2.7millionU.S.dollarsin2023.Accordingtoestimates,thismarketissettoseeasteepincrease,reachingover3.7billionU.S.dollarsby2028.ReadmoreNote(s):Worldwide;2022Source(s):Estimatedluxuryfashionyear-on-yearsalesgrowthworldwidefrom1sthalf2020to2024,byregionLuxuryfashionsalesgrowthforecastworldwide2020-2024,byregionEurope-25%U.S.-27%China32%2020202125%49%40%202226%10%-8%2023H1*2023H2*2024*10%1%16%5to7%3to5%1to3%2to4%1to3%4to6%7Description:TheEuropeanluxurymarketwasestimatedtohavegrownbetween5and7percentinthesecondhalfof2023.In2024,theluxurymarketisprojectedtoseeagrowthrateofbetween4and6percentinChina.

ReadmoreNote(s):Worldwide;2023Source(s):McKinsey&Company;TheBusinessofFashionAveragemergerandacquisitiondealvalueintheluxuryapparelandaccessoriessectorworldwidefrom2016to2022(inmillionU.S.dollars)AverageluxuryapparelandaccessorycompanyM&Adealvalueworldwide2016-20221,2001,0961,00080056460040020003563262081917820162017201820192020202120228Description:In2022,mergerandacquisitiondealsrelatedtotheluxuryapparelandaccessoriesindustryhadanaveragevalueof564millionU.S.dollars.ThetotalnumberofM&Adealsintheluxuryapparelandaccessoriescategorywas77thatyear.

ReadmoreNote(s):Worldwide;2016to2022Source(s):DeloitteCHAPTER

02InternationaltradeImportvalueofwatchesandclocksworldwidefrom2003to2022(inbillionU.S.dollars)Watchesandclocks:importvalueworldwide2003-2022605550454035302520152003

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202210/statistics/1056217/watches-and-clocks-import-value-worldwideIn2022,theworldwideimportvalueofwatchesandclockswasapproximately56.9billionU.S.dollars,upfromabout55.6billionU.S.dollarsrecordedayearearlier.Theglobalexportvalueofwatchesandclockswasaround56.7billionU.S.dollarsin2022.ReadmoreNote(s):Worldwide;2022Source(s):UNComtradeExportvalueofwatchesandclocksworldwidefrom2003to2022(inbillionU.S.dollars)Watchesandclocks:exportvalueworldwide2003-2022605550454035302520152003

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202211/statistics/1056220/watches-and-clocks-export-value-worldwideIn2022,theworldwideexportvalueofwatchesandclockswasaround56.7billionU.S.dollars,upfromabout55billionU.S.dollarsregisteredinthepreviousyear.Theglobalimportvalueofwatchesandclockswas56.9billionU.S.dollarsin2022.

ReadmoreNote(s):Worldwide;2022Source(s):UNComtradeLeadingwatchimportingcountriesworldwidein2022,byimportvalue(inbillionU.S.dollars)Leadingwatchimportingcountriesworldwide2022ImportvalueinbillionU.S.dollars012345678HongKongUnitedStatesChina7.66.64.4SwitzerlandFrance3.73.312Description:Thestatisticpresentsleadingwatchimportingcountriesworldwidein2022,byimportvalue.Inthatyear,theUnitedStateswasrankedsecondwithanimportvalueofapproximately6.6billionUSdollars.ReadmoreNote(s):Worldwide;2022Source(s):FederationoftheSwissWatchIndustryLeadingwatchexportingregionsworldwidein2021,byexportvalue(inbillionU.S.dollars)Watchmarket:leadingexportingregionsworldwide20213024.42520151057.74.72.520SwitzerlandHongKongChinaFranceGermany13Description:Thestatisticpresentsleadingwatchexportingregionworldwidein2021,byexportvalue.In2021,Chinarankedthirdwithawatchexportvalueof4.7billionU.S.dollars,threebilliondollarsbehindHongKong.ReadmoreNote(s):Worldwide;2021Source(s):FederationoftheSwissWatchIndustryLeadingwristwatchexportingcountriesworldwidefrom2019to2022,basedonnumberofunits(inmillions)Globalwatchmarket:mainexportcountriesbasedonnumberofunits2019-202220192020202120227006005004003002001000644.3540.5427.9361.1197.8160.1138.3137.316.9

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15.8Switzerland11.38.28.89.6ChinaHongKongUnitedStates14Description:Chinawasthetopexporterofwristwatchesofanycountryworldwidein2022.Inthatyear,Chinaexported540.5millionwatches.Thiswasanincreaseofover110milliondollarscomparedtothepreviousyear.

ReadmoreNote(s):Worldwide;2019to2022Source(s):FederationoftheSwissWatchIndustrySwisswatchexportsvaluefrom2015to2023,bycountry(inbillionSwissfrancs)Swisswatchexportsbycountryfrom2015to2023ChinaUnitedStatesHongKongJapanUnitedKingdomSingaporeGermanyUnitedArabEmiratesFranceItalySouthKorea25.020.015.010.05.00.020152016201720182019202020212022202315Description:ThegraphpresentstheSwisswatchexportsvaluefrom2015to2023,bycountry.In2023,theUnitedStatesimportedthehighestvalueofSwisswatchesintheworld,atapproximately4.16billionSwissfrancs.

ReadmoreNote(s):2015to2023Source(s):FederationoftheSwissWatchIndustryNumberofSwisswatchesexportedworldwidefrom2016to2023,bymaterial(inthousandunits)Swisswatches-totalunitsexportedworldwidefrom2016to2023,bymaterialSteelBimetallicPreciousmetalsOthermetalsOthermaterials30,00025,00020,00015,00010,0005,000020162017201820192020202120222023Material16Description:ThegraphpresentsthenumberofSwisswatchesexportedworldwidefrom2016to2023,bymaterial.In2023,aboutninemillionunitsofsteelSwisswatcheswereexportedworldwide,whichwasconsiderablymorethananyothercategory.

ReadmoreNote(s):Worldwide;2016to2023Source(s):FederationoftheSwissWatchIndustryValueofelectronicandmechanicalSwisswatchesexportedworldwidefrom2000to2023(inmillionSwissfrancs)GlobalexportvalueofelectronicandmechanicalSwisswatches2000-2023ElectronicMechanical30,00025,00020,00015,00010,0005,000022,007.220,574.416,572.616,259.117,119.618,432.116,34415,332.43,456.814,665.610,924.713,891.97,122.14,414.14,862.420004,295.620054,229.720104,415.720143,978.920153,591.520163,604.220183,383.120193,514.420232,782.120213,119.720222,246.820202017Year17Description:ThegraphpresentstheexportvalueofelectronicandmechanicalSwisswatchesworldwidefrom2000to2023.In2023,theglobalexportvalueofmechanicalSwisswatchesamountedtoabout22billionSwissfrancs.

ReadmoreNote(s):Worldwide;2000to2023Source(s):FederationoftheSwissWatchIndustryCHAPTER

03Leadingbrands&companiesBrandvalueoftheleading10mostvaluableluxurybrandsworldwidein2023(inmillionU.S.dollars)Mostvaluablegloballuxurybrands2023BrandvalueinmillionU.S.dollars020,00040,00060,00080,000100,000120,000140,000LouisVuittonFranceHermèsFrance124,82276,299ChanelFrance55,939GucciItaly26,306DiorFrance11,4429,7257,8996,124CartierFranceRolexUnitedKingdomTiffany&Co.UnitedStatesSaint-Laurent/YvesSaintLaurentFrancePradaItaly6,0234,92119Description:Thisstatisticdepictsthebrandvalueoftheleading10mostvaluableluxurybrandsworldwidein2023.Inthatyear,Chanelwasthethirdmostvaluableluxurybrandworldwidewithabrandvalueofabout56billionU.S.dollars.ReadmoreNote(s):Worldwide;2023Source(s):KantarMillwardBrownBrandvalueofRolexworldwidefrom2016to2023(inmillionU.S.dollars)GlobalbrandvalueofRolexfrom2016to202311,00010,0009,0008,0007,0006,0005,00010,7118,3508,0477,9387,9006,98820176,36020185,92720162019202020212022202320Description:In2023,theRolexbrandwasvaluedatapproximately10.7billionU.S.dollars.Thiswasthebrand'shighestvalueoverthedisplayedperiod,andanincreaseofroughly2.4billiondollarsonthepreviousyear.

ReadmoreNote(s):Worldwide;2016to2023Source(s):BrandFinance10-yearpricechangeofselectedvintageRolexwatchesasofJune2023,asapercentageRolexvintagemodels10-yearpricechange202310-yearpricepercentagechange100%

200%0%300%280%400%500%600%571%Ref.6241DaytonaPaulNewmanJohnPlayerSpecialDialRef.8171TriplecalendarRef.16528DaytonaCosmographgoldRef.16520DaytonaCosmographsteelRef.6263DaytonaOystergold272%249%231%Ref.1675GMTsteel227%227%220%Ref.6239DaytonasteelwithPaulNewmandialRef.1016OysterExplorersteelRef.6538SubmarinerBigCrownRef.1680'Red'Submariner198%188%21Description:Accordingtoastudyfocusingonluxuryinvestments,aRolexDaytonaspecialedition,DaytonaPaulNewmanJohnPlayerSpecialDial,sawanincreaseof571percentofitspriceoverthe10-yearperiod.OtherRolexvintagewristwatchesthatreturnedsignificantvaluesoninitialpriceswereTripleCalendar,andDaytonaCosmographgoldandsteelcollections.ReadmoreNote(s):Worldwide;Q22023Source(s):ArtMarketResearch;DouglasElliman;KnightFrankSalesrevenueoftheleadingluxurywatchbrandsworldwidein2022(inmillionU.S.dollars)Leadinggloballuxurywatchbrandsales202212,0009,747.3310,0008,0006,0004,0002,00002,882.282,588.812,106.681,886.581,362.531,266.1951.67IWC901.37864.68Rolex(Rolex)CartierWatches(Richemont)Omega(Swatch

Audemars

PatekPhilippe

RichardMilleGroup)

PiguetLongines(SwatchGroup)

(Richemont)BreitlingVacheronConstantin(Richemont)22Description:TheRolexbrandgeneratedapproximately9.7billionU.S.dollarsinsalesrevenuein2022,makingittheleadingluxurywatchbrandintheworld.Richemont'sCartierbrandwasthesecondleadingwatchbrandintermsofsales,however,therewasasignificantgapbetweenRolexandCartierinsecondplace.ReadmoreNote(s):Worldwide;2022Source(s):LuxeConsult;MorganStanley;SJXWatchesRetailmarketshareoftheleadingSwisswatchbrandsworldwidein2022Marketshareoftheleadingluxurywatchbrandsworldwidein202235%29.2%30%25%20%15%10%5%7.7%7%5.1%4.7%3.9%2.7%2.6%IWC2.6%2.2%0%RolexOmegaCartierWatchesPatekPhilippeAudemarsPiquetLonginesRichardMilleBreitlingVacheronConstantinBrand23Description:In2022,Rolexwasthelargestplayerinthegloballuxurywatchmarketwithalmostone-thirdretailmarketshareintheluxurywatchindustry.Otherwell-knownSwissbrandsOmegaandCartierfollowedRolexintherankingwithmarketsharesof7.7percentand7percent,respectively.ReadmoreNote(s):Worldwide;2022;*Impliedretailmarketshare.ReadmoreSource(s):LuxeConsult;MorganStanley;SJXWatchesSwatchGroup'srevenuesworldwidefrom2003to2023(inbillionCHF)RevenuesoftheSwatchGroupworldwide2003-2023108.7198765432108.468.458.488.247.997.887.87.557.57.316.766.445.945.975.595.425.054.54.153.972003

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202324Description:In2023,theSwatchGroup'sglobalrevenuesamountedtoapproximately7.88billionCHF,upfromabout7.5billionrecordedintheyearprior.TheSwatchGroupLtd.isaSwisscompanywhichprimarilymanufactureswatches.

ReadmoreNote(s):Worldwide;2003to2023Source(s):SwatchGroupRevenueshareoftheSwatchGroupworldwidein2023,bysegmentRevenueshareoftheSwatchGroupin2023,bysegmentElectronicsystems4.54%Watches&jewelry95.46%25Description:ThestatisticshowstherevenueshareoftheSwatchGroupin2023,bysegment.In2023,thewatchesandjewelrysegmenthadarevenueshareof95.66percentoftheSwatchGroup'snetsales.ꢀTheSwatchGroupisaninternationallyoperatingSwisscorporationthatproduceswatches,watchcomponentsandjewelry,aswellaselectronicmanufacturingsystemsfortheirown(Swatch,Breguet,GlashütteandOmegaamongothers)andcompanyexternalbrands.

ReadmoreNote(s):Worldwide;2023Source(s):SwatchGroupTotalsalesoftheRichemontGroupworldwidefromFY2008toFY2023(inbillioneuros)TotalsalesoftheRichemontGroupworldwide2008-202325201519.9516.7514.2413.9913.1411.0811.0110.6510.4110.1510.021058.876.895.295.425.18020082009201020112012*20132014*20152016201720182019202020212022*202326Description:In2023,totalsalesoftheRichemontGroupworldwideamountedtoabout19.95billioneuros,increasingbyapproximatelythreebillioneurosonthepreviousyear.TheRichemontGroupisoneoftheleadingluxurygoodscompaniesintheworld.TheRichemontGroupgarneredmostofitsrevenuefromjewelryMaisonsinFY2022,whichamountedtoaround13.4billioneuros.TheAsia-Pacificwasresponsiblefor40percentofthecompany’stotalsalesthatyear.

ReadmoreNote(s):Worldwide;2008to2023Source(s):RichemontSalesshareoftheRichemontGroupworldwideinFY2023,bybusinesssegmentSalesshareoftheRichemontGroupworldwide2023,bybusinesssegment80%70%60%50%40%30%20%10%0%67%19%13%JewelleryMaisonsSpecialistwatchmakersOther27Description:ThisstatisticshowsthesalesshareoftheRichemontGroupworldwideinFY2023,bybusinesssegment.Inthatyear,thesalesoftheRichemontGroup'sspecialistwatchmakerssegmentworldwidemadeupapproximately19percentofthegroup'stotalsales.ReadmoreNote(s):Worldwide;2023Source(s):RichemontTotalrevenueoftheLVMHGroupworldwidefrom2008to2023(inmillioneuros)TotalrevenueoftheLVMHGroupworldwide2008-2023100,00090,00080,00070,00060,00050,00040,00086,15379,18464,21553,67046,82644,65142,63637,60035,66430,638201429,0162013*27,97030,00020,00010,000023,659201120,320201017,193

17,053200820092012*20152016201720182019202020212022202328Description:MoëtHennessyLouisVuitton(LVMH)isoneoftheworld’sleadingluxurygroups,parentto75luxuryhouses.Overthepastdecade,LVMHenjoyedever-increasingglobalrevenue,reachingover53billioneurosin2019.In2022,bouncingfullybackfromtheimpactofthecoronavirus(COVID-19)pandemic,thegroup’srevenuesawanincreaseofabout77percenton2022,ultimatelyamountingto79.2billioneurosfortheyear.Inthefollowingyear,thegroupreachedapeakofover86billion[...]

ReadmoreNote(s):Worldwide;2008to2023;*ThefinancialstatementsasofDecember31,2013and2012wererestatedtoreflecttheretrospectiveapplicationasofJanuary1,2012ofIFRS11JointArrangements.Figurespriorto2022weretakenfrom[...]

ReadmoreSource(s):LVMHRevenueshareoftheLVMHGroupworldwidein2023,bybusinesssegmentBusinesssegmentrevenueshareoftheLVMHGroupworldwidein202350%45%45%40%35%30%25%20%15%10%5%32%11%7%5%0%FashionandleathergoodsSelectiveretailingandotheractivitiesPerfumesandcosmeticsWinesandspiritsWatchesandjewelry29Description:ThisstatisticshowstherevenueshareoftheLVMHGroupworldwidein2023,bysegment.In2023,45percentoftheLVMHGroup'sglobalrevenuecamefromthecompany'sfashionandleathergoodsbusinesssegment.

ReadmoreNote(s):2023Source(s):LVMHCHAPTER

04ConsumerbehaviorAverageannualexpenditureonjewelryandvaluablesperconsumerunitintheUnitedStatesfrom2018to2022,bycategory(inU.S.dollars)U.S.consumerexpenditureonjewelryandvaluables2018-2022,bycategoryJewelryWatches16014012010080139.92136.3395.8976.4162.12604029.0925.7820.3618.4418.222002018201920202021202231Description:ThisstatisticshowsaverageannualexpenditureonjewelryandvaluablesperconsumerunitintheUnitedStatesfrom2018to2022,bycategory.In2022,thecountry'saverageannualexpenditureonjewelryamountedto139.92U.S.dollarsperconsumerunit.ReadmoreNote(s):UnitedStates;2022Source(s):BureauofLaborStatisticsMostpopularpremiumandluxurywatchbrandsamongshoppersinGreatBritain(UK)asof1stquarter2024,bypopularityLeadingwatchbrandsamongshoppersGreatBritain2024Shareofrespondentswithpositiveopinion0%10%20%30%40%50%49%60%CasioWatchesSeikoWatches56%Timex45%CartierWatchesGucciWatches40%38%37%37%36%CitizenWatchesTiffanyandCoWatchesHermesWatchesHugoBossWatchesDiorWatches33%33%32Description:AccordingtoasurveyonluxurywatchbrandsinGreatBritain(UK),duringthefirstquarterof2024,themostpopularluxurywatchbrandwasCasiowatches,whichwasfavoredby56percentofrespondents.Timexwatchbrandrankedonthirdplace,receivingthepositiveopinionof45percentofrespondents.ReadmoreNote(s):UnitedKingdom(GreatBritain);Q12024;Approx.900;18-64years;UKadultsSource(s):YouGovMostsuccessfulluxurywatchandjewelrybrandsonWeiboinChinaasof3rdquarter2022,basedonbrandindexLeadingluxurywatchandjewelrybrandsonWeiboinChinaQ32022Numberofscores(0-100)40

50010203060708090100TiffanyBvlgari92.5391.98Cartier90.66PomellatoQeelin90.0889.73Omega89.73IWC89.18LonginesMontblancChopard88.6187.8587.4233Description:Manyluxurycompaniesaremakinguseofsocialmediatopromotetheirbrandsandproducts.TiffanyandBvlgariwerethemostactiveandsuccessfulhigh-endwatchandjewelrybrandsonChina'sTwitter-likeplatformWeibo,scoringover91pointsinabrandindexasofthethirdquarterof2022.ReadmoreNote(s):China;asofQ32022Source(s):LuxeCOIntelligence;WeiboFrequencyofluxurywatchpurchasesamongaffluentconsumersinNorthAmericafrom4thquarterof2020to3rdquarterof2023LuxurywatchespurchasingfrequencyinNorthAmericaQ42020-Q32023MultiplepurchasesSinglepurchaseNopurchases120%100%80%60%40%20%0%37.1%37.5%34.6%40.4%41.9%40.5%31.6%39.8%40.7%39.2%32.9%41.7%29.8%41.4%40.8%41.7%34.9%45.2%46%38.6%35.5%24.7%35.5%24%38.7%38.7%27.8%27.9%27.8%28.5%23.4%24.3%17.8%17.6%16.1%15.3%Q42020Q12021Q22021Q32021Q42021Q12022Q22022Q32022Q42022Q12023Q22023Q3202334Description:Accordingtotheresultsofarecentsurveyranamongaffluentandhighnetworthindividuals,morethanhalfofluxuryconsumersinNorthAmericahavemadealuxurywatchpurchaseinthethirdquarterof2023.Theshareofluxuryconsumerswhomademultiplepurchasesforluxurywatchesinthepastyearstoodataround28percent.ReadmoreNote(s):NorthAmerica;Q32023;151respondents;18yearsandolder;AffluentandHighNetWorthIndividualsSource(s):AltiantFrequencyofluxurywatchpurchasesamongaffluentconsumersinEuropefrom4thquarterof2020to3rdquarterof2023LuxurywatchespurchasingfrequencyinEuropeQ42020-Q32023MultiplepurchasesSinglepurchaseNopurchases120%100%80%60%40%20%0%20.8%31.5%24%28%25.8%26.3%24.4%29.5%20.5%28.4%29.9%20.7%30.1%25.2%31.1%28.5%31.9%20.5%33.6%24.2%33.3%20%22.6%51.6%26.4%50%49.4%49.4%47.6%48%47.6%46.7%45.3%44.8%42.3%40.4%Q42020Q12021Q22021Q32021Q4