Luxury goods like watches, footwear, accessories, apparel and others are costly and target those buyers who belong to premium group. The end consumers of luxury goods market are kids from 0-12 years, teenagers from 13 to 19 years and the remaining are considered into the adult group. Premium watches and jewelry are amongst the hard luxury goods. The consumers are provided hard luxury goods via stores, premium class outlets or internet.
Antique Watches of A. Lange & Sohne on show in Singapore
According to a recent news, some rarely seen A. Lange & Sohne watches are on display in Singapore. A. Lange & Sohne happens to be a German maker of prestige watches and of high quality. Each Lange watch comprises of mechanical instead of quartz movements inclusive of some special edition watches and the Lange watch cases are embodied with rose gold, platinum, yellow gold and white gold. Lange was well known for producing adorable and reliable pocket watches and clocks. Every Lange timepiece is carved by hand as well as bears the signature of the master watchmaker who makes it. Lange has managed to be at the top echelons of haute horology in a time span of twenty years. The specialty of Lange watches are its certain German austerity, details and attention to typography. The latest special editions are crafted from honey gold and have time appearing on the digital display in hours and 10min intervals.
In Takashimaya Shopping Centre, Sincere Fine Watches has an exhibition displaying 100 Lange timepieces inclusive of rare pocket watches from its archives and new creations as well. 100 masterpieces is Sincere’s first mono-brand showcase. Saxonia, Lange 1, Tourbillon and Arkade, the first quartet of watches by Lange are amongst the 100 masterpieces inclusive of Zeitwerk Decimal Strike and 1815 Annual Calendar in Honey Gold.
Hard Luxury Goods: ASEAN Market Outlook
According to an ongoing study by Future Market Insights, for the availability of products at lower price and consumer convenience, the hard luxury goods market is segmented on the basis of the mode of distribution channel, in which, online retailing is anticipated to be the most preferred in the forecasted period. Moreover, the company’s brand retail outlets is anticipated as the second most preferred mode as they provide better offerings at less price. The demand for hard luxury goods are showing a sturdy growth of 10-12% worldwide.
In APAC, the driving factors for the growth of emerging markets are the disposable income of the rising middle class and increase in the demand of accessories and is also anticipated for fastest CAGR growth in contrast to other regions. In the forecast period, with a single digit CAGR growth, India is also anticipated to show a sturdy growth. Singapore is anticipated to be the leading market in ASEAN region and the drivers are branded watches and jewelry. The restraining factors are scarcity of products and the weak distribution channel. In ASEAN region, the key market players include Ralph Lauren Corp, LVMH Moet Hennessy Louis Vuitton SA, Gucci, Compagnie Financiere Richemont SA, Louis Vuitton Malletier, Hermes International SCA, Christian Dior SE, Tod’s S.p.A., Rolex SA, and others.
