Breitling CEO on 'crazy' growth in watch market; why Rolex-Bucherer deal isn't a threat

Breitling sales and revenue are up under private equity owner Partners Group; unveiled new Navitimer watches in smaller sizes.
CEO Georges Kern says brand has seen "crazy" growth; now in top 10 Swiss watch brands. Focus is on physical retail expansion.
Opened new NYC boutique with clubhouse feel; says young consumers want in-person experience. Watches available immediately, unlike competitors.
Rolex's purchase of retailer Bucherer/Tourneau won't impact Breitling's collaboration. Sees luxury watch market continuing to boom globally.
Big opportunity still remains in China, India, other countries where industry just starting. Kern admires Warren Buffett's modesty and sharpness.

yahoo.com

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8/23/2023

Are Mid-Tier Luxury Watch Brands on the Rise in the Pre-Owned Market?

The pre-owned market for mid-range luxury watches is seeing growth and outperforming top-tier brands, suggesting a shift in appeal towards more affordable options, according to experts in the industry. Brands such as OMEGA, Cartier, and Oris are gaining popularity among consumers, who value unique stories and affordable price points, while traditional high-end brands like Rolex, Patek Philippe, and Audemars Piguet are experiencing a decline in prices. However, experts believe that top-tier brands will remain desirable in the long term, and predict increased demand for models from brands like Jaeger-LeCoultre, IWC, and Breguet.

8/25/2023

Watches of Switzerland shares plunge by a quarter after Rolex buys retailer Bucherer

Luxury watchmaker Rolex's acquisition of watch retailer Bucherer has caused a 25% drop in the value of the Watches of Switzerland Group, although the group insists the move is solely for succession planning and not a strategic entry into the retail market.

9/5/2023

Rolex’s direct retail stake may shake up a big seller’s market

Rolex's acquisition of Swiss retailer Bucherer threatens the position of Britain's Watches of Switzerland Group (WoS), which generates half of its sales from Rolex timepieces, as WoS may face competition from its biggest supplier and see sales come under pressure.

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Posted 9/7/2023, 5:38:46 PM