Luxury watches 'will continue to sell in 2012'

First published: 20-12-2011

The market for luxury watches is unlikely to slow down any time soon, with many people stll likely to invest in the products over the coming year, according to one manufacturer.

Offering his viewpoint on the luxury goods sector in the coming year, Jean-Claude Biver, chief executive officer of Hublot watches, explained that for 2012, it is expected his company will see even more growth.

He explained 2011 has been the best year ever for the company, but it is likely this will continue further next year as the company invests even more in the brand.

Mr Biver said he does not think this rate of growth will be limited to just his company, as he predicts the entire industry will see an increase in sales with the resolution of the Eurozone debt crisis, which he predicts will be found.

"The second element, which is much more important, is that we are still benefitting from countries like Brazil, Mexico, Turkey, Indonesia, India, China [and] Russia where the demand for luxury goods and jewellery is still very high and compensates whatever we might lose in Europe," Mr Biver added.

He stated the European market is being bolstered by the number of travellers who come from the likes of Brazil and China who seek to purchase luxury watches and other items from the country of their manufacture during their stay.

"So all in all we still believe that next year will still be good for luxury and for our watches," Mr Biver concluded.

Hublot watches are currently looking to make an innovation in the world of timepieces and jewellery with the production of a new gold alloy, which it states is scratch resistant.

The company is planning to release timepieces and a line of branded jewellery items made from the alloy next year. 


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