World News: 09:19 GMT Tuesday 3rd December 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Dec. 03, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering
Global Luxury Watch Market: Size, Trends and Forecast (2019-2023) provides an in-depth analysis of the luxury watch market including a detailed description of market sizing and growth. The report provides an analysis of the global luxury watch market by value, by product and by distribution channel.
Luxury watches have been segmented on the basis of product type, made, distribution channel and demography. The two major product types of luxury watches are mechanical and electronic. On the basis of made, luxury watches have been divided into Swiss watches and others. Distribution channels for luxury watches have been segmented into online and offline channels. On the basis of demography, luxury watches have been divided into male luxury watches and female luxury watches.
The global luxury watch market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2019-2023). The market is expected to be driven by various growth-enhancing factors such as increasing air travel, growing demand for luxury watches among millennials, rise in e-commerce channels, etc. However, the market is not free from challenges that are hindering its growth. Some of the major challenges faced by the market are a threat from counterfeit products and high production costs.
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall luxury watch market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The major players dominating the luxury watch market are Rolex, LVMH Group, Richemont and The Swatch Group Ltd. The four companies have been profiled in the report providing their business overview, financial overview and business strategies.
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Globe Newswire: 09:19 GMT Tuesday 3rd December 2019
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