The Latin America, Middle East and Africa Luxury Watch Market would witness market growth of 6.1% CAGR during the forecast period (2022-2028).
Manufacturers know that it entirely depends on the buyer whether they wish to purchase an antique or modern watch. The appeal of wearing old timepieces as opposed to modern versions is determined by current trends. In recent years, experts have noticed a rise in interest in vintage watches, particularly in the mass market. While modern timepieces are favored by older demographics, vintage appears to be becoming more popular with 20 to 30-year-olds. Similar to wearing vintage apparel, wearing a watch that belongs to a different era evokes fascination among buyers.
Many different aspects are taken into consideration while determining the value of a luxury watch. The market value and the quality of the watch essentially determine the resale value. A watch that has received routine maintenance and cleaning is going to be in better shape than one that hasn't. The hundreds of minute elements that make up mechanical luxury watches are painstakingly assembled by hand.
A watch requires to be tuned up and lubricated regularly to keep it working smoothly and avoid any issues. The value of a watch will rise if it incorporates additional features, or complexities, such as moon phase indicators and calendar functions. In general, a watch's resale value increases with complexity. Consumers can earn well selling a contemporary luxury watch in the market now due to the present demand for used timepieces and constrained availability. Like any commodity, the watch will appreciate as it becomes more in demand.
The luxury watch market in the Middle East is mostly dominated by Dubai, followed by Saudi Arabia, Kuwait, and Qatar albeit with varying preferences due in part to social media. The demand is great and there are waiting lines for watches despite the existence of the pandemic. Nearly half of the exported amount is shipped to the UAE, rendering it the seventh-largest market by itself. Similarly, Saudi Arabia is among the most desirable GCC marketplaces for luxury brands, with around 30 million consumers. Most manufacturers of luxury sports watches, expect double-digit growth in the Saudi region in the coming years.
The Brazil market dominated the LAMEA Luxury Watch Market by Country in 2021; thereby, achieving a market value of $860.1 Million by 2028. The Argentina market is showcasing a CAGR of 6.7% during (2022 - 2028). Additionally, The UAE market would register a CAGR of 5.8% during (2022 - 2028).
Based on Product, the market is segmented into Electronic and Mechanical. Based on Distribution Channel, the market is segmented into Offline and Online. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Luxury Watch Market is Predict to reach $53.5 Billion by 2028, at a CAGR of 5.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Fossil Group, Inc., LVMH SE, Ralph Lauren Corporation, Rolex SA, Citizen Watch Co., Ltd., Seiko Watch Corporation, Compagnie Financiere Richemont SA, Movado Group, Inc. and The Swatch Group Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Product
By Distribution Channel
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Apple, Inc.
- Fossil Group, Inc.
- LVMH SE
- Ralph Lauren Corporation
- Rolex SA
- Citizen Watch Co., Ltd.
- Seiko Watch Corporation
- Compagnie Financiere Richemont SA
- Movado Group, Inc.
- The Swatch Group Ltd.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Luxury Watch Market, by Product
1.4.2 LAMEA Luxury Watch Market, by Distribution Channel
1.4.3 LAMEA Luxury Watch Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies Deployed in Luxury Watch Market
Chapter 4. LAMEA Luxury Watch Market by Product
4.1 LAMEA Electronic Market by Country
4.2 LAMEA Mechanical Market by Country
Chapter 5. LAMEA Luxury Watch Market by Distribution Channel
5.1 LAMEA Offline Market by Country
5.2 LAMEA Online Market by Country
Chapter 6. LAMEA Luxury Watch Market by Country
6.1 Brazil Luxury Watch Market
6.1.1 Brazil Luxury Watch Market by Product
6.1.2 Brazil Luxury Watch Market by Distribution Channel
6.2 Argentina Luxury Watch Market
6.2.1 Argentina Luxury Watch Market by Product
6.2.2 Argentina Luxury Watch Market by Distribution Channel
6.3 UAE Luxury Watch Market
6.3.1 UAE Luxury Watch Market by Product
6.3.2 UAE Luxury Watch Market by Distribution Channel
6.4 Saudi Arabia Luxury Watch Market
6.4.1 Saudi Arabia Luxury Watch Market by Product
6.4.2 Saudi Arabia Luxury Watch Market by Distribution Channel
6.5 South Africa Luxury Watch Market
6.5.1 South Africa Luxury Watch Market by Product
6.5.2 South Africa Luxury Watch Market by Distribution Channel
6.6 Nigeria Luxury Watch Market
6.6.1 Nigeria Luxury Watch Market by Product
6.6.2 Nigeria Luxury Watch Market by Distribution Channel
6.7 Rest of LAMEA Luxury Watch Market
6.7.1 Rest of LAMEA Luxury Watch Market by Product
6.7.2 Rest of LAMEA Luxury Watch Market by Distribution Channel
Chapter 7. Company Profiles
7.1 Apple, Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Research & Development Expense
7.1.5 Recent strategies and developments:
7.1.5.1 Product Launches and Product Expansions:
7.1.6 SWOT Analysis
7.2 Fossil Group, Inc.
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional Analysis
7.2.4 Research & Development Expenses
7.2.5 Recent strategies and developments:
7.2.5.1 Partnerships, Collaborations, and Agreements:
7.2.5.2 Product Launches and Product Expansions:
7.3 Movado Group, Inc.
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 Recent strategies and developments:
7.3.4.1 Partnerships, Collaborations, and Agreements:
7.3.4.2 Acquisition and Mergers:
7.4 LVMH SE
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expense
7.4.5 Recent strategies and developments:
7.4.5.1 Acquisition and Mergers:
7.5 Ralph Lauren Corporation
7.5.1 Company Overview
7.5.2 Financial Analysis
7.5.3 Regional Analysis
7.5.4 Recent strategies and developments:
7.5.4.1 Product Launches and Product Expansions:
7.6 Citizen Watch Co., Ltd.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.7 The Swatch Group Ltd.
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Segmental and Regional Analysis
7.7.4 Research & Development Expenses
7.8 Compagnie Financière Richemont SA
7.8.1 Company Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research & Development Expenses
7.9 Seiko Holdings Corporation
7.9.1 Company Overview
7.9.2 Financial Analysis
7.9.3 Segmental and Regional Analysis
7.9.4 Research & Development Expenses
7.10. Rolex SA
7.10.1 Company Overview
TABLE 1 LAMEA Luxury Watch Market, 2018 - 2021, USD Million
TABLE 2 LAMEA Luxury Watch Market, 2022 - 2028, USD Million
TABLE 3 LAMEA Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 4 LAMEA Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 5 LAMEA Electronic Market by Country, 2018 - 2021, USD Million
TABLE 6 LAMEA Electronic Market by Country, 2022 - 2028, USD Million
TABLE 7 LAMEA Mechanical Market by Country, 2018 - 2021, USD Million
TABLE 8 LAMEA Mechanical Market by Country, 2022 - 2028, USD Million
TABLE 9 LAMEA Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 10 LAMEA Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 11 LAMEA Offline Market by Country, 2018 - 2021, USD Million
TABLE 12 LAMEA Offline Market by Country, 2022 - 2028, USD Million
TABLE 13 LAMEA Online Market by Country, 2018 - 2021, USD Million
TABLE 14 LAMEA Online Market by Country, 2022 - 2028, USD Million
TABLE 15 LAMEA Luxury Watch Market by Country, 2018 - 2021, USD Million
TABLE 16 LAMEA Luxury Watch Market by Country, 2022 - 2028, USD Million
TABLE 17 Brazil Luxury Watch Market, 2018 - 2021, USD Million
TABLE 18 Brazil Luxury Watch Market, 2022 - 2028, USD Million
TABLE 19 Brazil Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 20 Brazil Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 21 Brazil Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 22 Brazil Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 23 Argentina Luxury Watch Market, 2018 - 2021, USD Million
TABLE 24 Argentina Luxury Watch Market, 2022 - 2028, USD Million
TABLE 25 Argentina Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 26 Argentina Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 27 Argentina Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 28 Argentina Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 29 UAE Luxury Watch Market, 2018 - 2021, USD Million
TABLE 30 UAE Luxury Watch Market, 2022 - 2028, USD Million
TABLE 31 UAE Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 32 UAE Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 33 UAE Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 34 UAE Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 35 Saudi Arabia Luxury Watch Market, 2018 - 2021, USD Million
TABLE 36 Saudi Arabia Luxury Watch Market, 2022 - 2028, USD Million
TABLE 37 Saudi Arabia Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 38 Saudi Arabia Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 39 Saudi Arabia Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 40 Saudi Arabia Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 41 South Africa Luxury Watch Market, 2018 - 2021, USD Million
TABLE 42 South Africa Luxury Watch Market, 2022 - 2028, USD Million
TABLE 43 South Africa Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 44 South Africa Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 45 South Africa Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 46 South Africa Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 47 Nigeria Luxury Watch Market, 2018 - 2021, USD Million
TABLE 48 Nigeria Luxury Watch Market, 2022 - 2028, USD Million
TABLE 49 Nigeria Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 50 Nigeria Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 51 Nigeria Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 52 Nigeria Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 53 Rest of LAMEA Luxury Watch Market, 2018 - 2021, USD Million
TABLE 54 Rest of LAMEA Luxury Watch Market, 2022 - 2028, USD Million
TABLE 55 Rest of LAMEA Luxury Watch Market by Product, 2018 - 2021, USD Million
TABLE 56 Rest of LAMEA Luxury Watch Market by Product, 2022 - 2028, USD Million
TABLE 57 Rest of LAMEA Luxury Watch Market by Distribution Channel, 2018 - 2021, USD Million
TABLE 58 Rest of LAMEA Luxury Watch Market by Distribution Channel, 2022 - 2028, USD Million
TABLE 59 Key Information – Apple, Inc.
TABLE 60 Key Information – Fossil Group, Inc.
TABLE 61 Key Information – Movado Group, Inc.
TABLE 62 key Information – LVMH SE
TABLE 63 key Information – Ralph Lauren Corporation
TABLE 64 Key Information –Citizen Watch Co., Ltd.
TABLE 65 Key Information – The Swatch Group Ltd
TABLE 66 Key Information – Compagnie Financière Richemont SA
TABLE 67 Key Information – SEIKO HOLDINGS CORPORATION
TABLE 68 Key Information – Rolex SA
List of Figures
FIG 1 Methodology for the research
FIG 2 SWOT Analysis: apple, Inc.
FIG 3 Recent strategies and developments: Fossil Group, Inc.