China's Most Wanted Watch Brands
Tuesday - 11 June 2013
We're all used to many of the things we buy being Made in China. But as the Chinese economy continues to boom, increasingly the brands we love are Wanted in China.
In fact, 2011 was the first year the desire for luxury watches in China outstripped demand in the US, according to a recent study.
"For the first time since the study was launched in 2004, China surpassed the USA as the country exhibiting the highest demand for luxury watches, representing 23 percent of all watch-related searches," the research firm Digital Luxury Group said in a 2012 report at Baselworld, the world's biggest watch and jewellery fair.
Meanwhile, Keplar Research predicts that by 2016, Asia will make up two thirds of the luxury watch market.
To mark this change, we've decided to take a look at four of China's most wanted luxury watch brands.
Chanel is the most desired brand by Chinese women, with a quarter of females in the country citing it as one of the three brands they most want to own. That's according to research by Bain & Co.
Many luxury brands adapt their name for Chinese consumers. (Land Rover for example is called "road tiger" in China). Xiang Nai Er, Chanel's brand name in Mandarin, means "fragrant" and "persistent".
Longines is one of the brands Chinese men most desire, again according to Bain & Co. The Asian market accounts for over half of Longines sales.
Walter von Känel, Longines President, believes the brands success in Asia lies in adapting to the local market. “[The Chinese] want classical watches, they want sizes adjusted to their wrist … and at a reasonable prices,” von Känel told the Reuters news agency last year.
Swarovski is one of the most searched for brands in China, as cited by the World Luxury Index China.
"Although the word Swarovski is difficult to pronounce [for the Chinese], we are rapidly becoming a household name in China," Swarovski's chief technology officer, Peter Zotti, told The Moodie Report. He made the remarks in May 2009 ahead of the debut of Swarovski's watch collection to the Chinese market. He added that the impact of the Chinese market on sales is "incredible".
Tissot is one of the bestselling watch brands in China.
Tissot have reached out to the Chinese market by appointing Barbie Tsu, one of the most popular movie stars in China, as a brand ambassador.
What's your take on China's taste in luxury watches?
Image Credit: China by Dainis Matisons.