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MARKET OVERVIEW

The Europe luxury watch market was valued at USD 7.32 Billion in 2024 and is expected to reach USD 12.8 Billion by 2033, growing at a CAGR of 6.4% during the forecast period of 2025-2033. This growth is driven by Europe's heritage in high-quality watchmaking, increased digital shopping, a rising interest in luxury goods, and a robust luxury tourism sector fostering demand for exclusive and high-value timepieces.

STUDY ASSUMPTION YEARS

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

EUROPE LUXURY WATCH MARKET KEY TAKEAWAYS

• Current Market Size: USD 7.32 Billion in 2024
• CAGR: 6.4% from 2025 to 2033
• Forecast Period: 2025-2033
• European watchmakers benefit from a rich heritage and expertise in horology, dominating premium craftsmanship.
• The pre-owned luxury watch market is rapidly expanding, supported by trusted online platforms and attracting younger generations.
• Digital transformation is influencing retail with e-commerce growth, including bespoke online services and virtual try-ons.
• Smart luxury watches blend traditional design with tech features, gaining traction among practical, style-conscious consumers.
• The market is driven by sustainability, ethical sourcing, and strong luxury tourism boosting retail sales in flagship and duty-free stores.

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MARKET GROWTH FACTORS

The luxury watch industry grows in Europe because Europe manufactures luxury watches that are well-established, high-quality, and innovative. The luxury watch market digitalizes more and more. Luxury watches in general receive increased demand. Unique watches with high value see high demand specifically from wealthy customers. In 2023 Rolex reported revenues of USD 11.5 billion, an 11% increase, and a record result attributed to increasing disposable incomes and a demand in handmade luxury watches.

Technology grows as a key area. Brands combined customary watchmaking and innovation like gold cases and hybrid technologies. Longines made two Master Collection GMT limited-edition watches for January 2024. They have 18k gold cases in addition to a start around USD 14,750. These elements combined with customizations and features target consumers who favor advanced furnishings.

E-commerce commonly sells goods, and luxury watch brands have increased their presence on the web, improving information and letting people try on watches virtually. The luxury tourism industry also makes sales of goods, especially at flagship and duty-free stores across Europe. Long-term growth might focus on sustainability and on sourcing.

MARKET SEGMENTATION

Type:

• Analog Watch: Classic, masterfully constructed with dials showing hours, minutes, and seconds. Limited editions and bespoke designs appeal to collectors and affluent buyers, embodying status and tradition especially in Switzerland and Germany.
• Digital Watch: Growing segment for tech-savvy consumers featuring touchscreens, connectivity, and health tracking. Hybrid designs blend innovation with craftsmanship for evolving preferences.

End User:

• Women: Demand elegant, stylish, and personalized timepieces with intricate designs and premium materials like diamonds. Smaller cases and hybrid smartwatches cater to tech-conscious buyers.
• Men: Driven by bold, sophisticated, multifunctional watches with complex movements and larger cases. Mechanical watches and limited editions appeal to status and collectors.
• Unisex: Gaining prominence with versatile, gender-neutral designs featuring minimalist aesthetics, medium cases, and hybrid tech, reflecting inclusivity and sustainability.

Distribution Channel:

• Online Stores: Offer convenience, personalized experiences, and wider reach via e-commerce and exclusive boutiques with virtual try-ons and authenticated resale platforms.
• Offline Stores: Provide personalized service and firsthand experience through flagship boutiques, authorized retailers, and duty-free shops, supporting exclusivity and brand loyalty.

Country:

• Germany: Known for precision engineering, strong domestic brands, and a luxury e-commerce sector, with eco-conscious consumer preferences.
• France: A global fashion and luxury hub attracting tourists, valuing exclusivity and timeless design with growing e-commerce.
• United Kingdom: High-income consumers, thriving retail, growing interest in pre-owned watches, and expanding e-commerce including duty-free boosts.
• Italy: Appreciates style and craftsmanship, viewing watches as status symbols, with robust retail culture and luxury tourism.
• Spain: Rising disposable incomes and vibrant tourism drive demand; online retail expansion and eco-friendly preferences are notable.
• Others

REGIONAL INSIGHTS

Germany dominates as a key market in the Europe luxury watch industry with its precision engineering heritage and high demand for premium timepieces. Germany benefits from a robust economy and a growing luxury e-commerce sector, supporting affluent consumers valuing craftsmanship and innovation. Environmentally friendly practices also align with German consumers' preferences, strengthening market expansion.

RECENT DEVELOPMENTS & NEWS

In July 2024, German luxury watch retailer Aigner Watches partnered with Titan Company to enter India, launching Swiss-made collections in 50 metro stores targeting premium and accessible luxury markets. In September 2024, Omega unveiled the Speedmaster Pilot, a 40.85mm chronograph featuring a matte brushed finish, cockpit-style elements, a matte black dial, and discreet date window, enhancing its military-inspired lineup.

KEY PLAYERS

• Apple Inc.
• The Swatch Group Ltd
• Fossil Group
• Citizen
• Louis Vuitton
• Movado Group Inc.
• Ralph Lauren Media LLC
• Seiko Watch Corporation
• Girard Perregaux
• Breguet

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