WorldWatchReport™ 2014 - Haute Horlogerie Preview
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The document presents a 2014 preview of the luxury watch industry's haute horlogerie segment, highlighting key insights and trends based on extensive market research conducted since 2004. It shows a substantial growth of haute horlogerie brands in various global markets, particularly in China and BRIC countries, and identifies Patek Philippe as leading the segment. The report details brand performance, search market shares, and the impact of social media engagement on brand visibility.
![The Leading Market Research in the Luxury Watch Industry. Since 2004.
© Digital Luxury Group, DLG SA, 2014
9
2013 2012 Brand Models Total
1 1 = Audemars Piguet Royal Oak 13.37%
2 2 = Audemars Piguet Royal Oak Offshore 8.87%
3 4 æ Jaeger-Lecoultre Master 8.04%
4 3 è Jaeger-Lecoultre Reverso 7.87%
5 6 æ Patek Philippe Nautilus 5.90%
6 5 è Patek Philippe Calatrava 5.45%
7 7 = Blancpain Fifty Fathoms 2.80%
8 11 æ Ulysse Nardin Marine Collection 2.74%
9 9 = Breguet Type Xx / Type Xxi 2.01%
10 8 è Franck Muller Crazy Hours 1.87%
SUB-TOTAL 58.92%
OTHERS 41.08%
TOTAL 100.00%
Royal Oak
Audemars Piguet
§ Audemars Piguet’s Royal Oak reinforces its leadership as the #1 Haute Horlogerie model
#1 Haute Horlogerie Model
[13.37% market share]
Top 10 Most Sought-After Haute Horlogerie Collections in 2013
Jan – Nov 2013](https://image.slidesharecdn.com/wwr2014hautehorlogeriemediakitfinallowres-140120112430-phpapp02/85/WorldWatchReport-2014-Haute-Horlogerie-Preview-9-320.jpg)
![The Leading Market Research in the Luxury Watch Industry. Since 2004.
© Digital Luxury Group, DLG SA, 2014
10
Reverso
Jaeger-LeCoultre
Sky Moon Tourbillon
Patek Philippe
§ Royal Oak + Royal Oak Offshore lead in 14 markets, however in the remaining 6 markets (FR,
TH, JP, RU, TW, CN) local preferences arise.
France’s #1
[18.74% market share]
Russia’s #1
[8.94% market share]
China’s #1
[8.42% market share]
Global Haute Horlogerie Watch Preferences Differ
Jan – Nov 2013
Overseas
Vacheron Constantin](https://image.slidesharecdn.com/wwr2014hautehorlogeriemediakitfinallowres-140120112430-phpapp02/85/WorldWatchReport-2014-Haute-Horlogerie-Preview-10-320.jpg)
![The Leading Market Research in the Luxury Watch Industry. Since 2004.
A. Lange & Sohne
Audemars Piguet
Blancpain
Bovet
Breguet
De Bethune
Franck Muller
Girard-PerregauxGreubel Forsey
Jaeger-LeCoultre
Jaquet Droz
Parmigiani
Richard Mille
Roger Dubuis
Ulysse Nardin
Vacheron Constantin
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000
© Digital Luxury Group, DLG SA, 2014
11
The Growing Impact of Social Media
[Benchmarking Facebook Community Size & Post Engagement Rate for Haute Horlogerie Brands]
§ Facebook confirmed as a strategic communication channel, 1,568 K total fans, up 130% vs. 2012
§ Improved brand social efforts in 2013 as average engagement rate increases to 1.31% vs. 1.24% in
2012
Jan – Dec 2013
EngagementRate
(Jan-Dec2013)
Number of Facebook Fans
(at end of Dec 2013)
Average
Engagement
Rate: 1.31%](https://image.slidesharecdn.com/wwr2014hautehorlogeriemediakitfinallowres-140120112430-phpapp02/85/WorldWatchReport-2014-Haute-Horlogerie-Preview-11-320.jpg)
![The Leading Market Research in the Luxury Watch Industry. Since 2004.
§ 35 million total brand post views, decreased by -‐‑17% from 2012.
§ Glashüce Original and Vacheron Constantin, which had strongest year-‐‑to-‐‑year evolution also
showed strongest rise in interest in Forums.
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
Purist pro Time Zone Iwatch 365
© Digital Luxury Group, DLG SA, 2014
12
Online Watch Forums Show Slight Slowdown
[Top 10 Most Popular Haute Horlogerie Brands on Selected Watch Forums]
Jan – Dec 2013
NumberofBrandPostViews
Jan–Dec2013
-4.48% -9.69% -29.96% -43.79% +48.67% +53.36% -44.47% +5.73% -42.47% -43.12%](https://image.slidesharecdn.com/wwr2014hautehorlogeriemediakitfinallowres-140120112430-phpapp02/85/WorldWatchReport-2014-Haute-Horlogerie-Preview-12-320.jpg)
WorldWatchReport™ 2014 - Haute Horlogerie Preview
- 1. The Leading Market Research in the Luxury Watch Industry. Since 2004. HAUTE HORLOGERIE PREVIEW JANUARY 2014
- 2. The Leading Market Research in the Luxury Watch Industry. Since 2004. 2014 HAUTE HORLOGERIE PREVIEW. © Digital Luxury Group, DLG SA, 2014 2 § 10th Edition § 18 Haute Horlogerie Brands § 20 Markets § 1 billion searches analyzed using DLG’s proprietary semantic analysis technology DemandTracker™ (see Appendix) § Published in partnership with Europa Star and the gracious support of the Fondation de la Haute Horlogerie § Full version of report, covering 60+ brands, available at Baselworld 2014 Haute Horlogerie Preview
- 3. The Leading Market Research in the Luxury Watch Industry. Since 2004. 18 HAUTE HORLOGERIE BRANDS. © Digital Luxury Group, DLG SA, 2014 3 Note: Other brands exhibiting at the Salon International de la Haute Horlogerie such as Cartier, IWC, Panerai, and Piaget, have not been analyzed in this year’s preview research as this is dedicated to the Haute Horlogerie category only. Full results of the report covering the 5 categories will be released at Baselworld. References to last year’s market evolutions may vary due to an upgrade to our proprietary technology tool, which was applied retroactively on the data. See Appendix for more information.
- 4. The Leading Market Research in the Luxury Watch Industry. Since 2004. 20 GLOBAL MARKETS ANALYZED. © Digital Luxury Group, DLG SA, 2014 4
- 5. The Leading Market Research in the Luxury Watch Industry. Since 2004. Key Insights on the Haute Horlogerie Market in 2013 © Digital Luxury Group, DLG SA, 2014 5
- 6. The Leading Market Research in the Luxury Watch Industry. Since 2004. China U.S.A. U.K. Japan France Italy Germany Russia Switzerland Singapore Thailand India Spain Hong Kong Brazil -40% -20% 0% 20% 40% 60% 80% 0% 5% 10% 15% 20% 25% 30% 35% 40% © Digital Luxury Group, DLG SA, 2014 6 Haute Horlogerie Search Market Share and Growth Rate in 2013 § Haute Horlogerie brands continue to grow rapidly (+12%) § BRIC markets retain high growth rates (Brazil +7%, Russia +15%, India +20%) § Mainland China on its own consists of 34% market share, increasing by +58% vs. 2012 § UK and US rebound after slow-‐‑down the previous year. Jan – Nov 2013 Y/YGrowthRate 2013 Global Search Market Share
- 7. The Leading Market Research in the Luxury Watch Industry. Since 2004. 28.13% 13.87% 13.03% 12.29% 6.29% 5.92% 4.17% 3.92% 3.25% 2.58% 1.91% 1.30% 1.17% 0.78% 0.67% 0.34% 0.27% 0.11% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% © Digital Luxury Group, DLG SA, 2014 7 The Most Popular Haute Horlogerie brands in 2013 § Patek Philippe leads the Haute Horlogerie segment, by a landslide with over ¼ market share. Jan – Nov 2013 HauteHorlogerieSearchMarketShare
- 8. The Leading Market Research in the Luxury Watch Industry. Since 2004. -22.15% -17.00% -10.54% -5.47% -3.41% -3.38% -2.72% +0.60% +1.00% +12.22% +15.61% +19.73% +20.17% +20.61% +21.37% +21.58% +33.93% +38.79% +40.17% -30.00% -20.00% -10.00% +0.00% +10.00% +20.00% +30.00% +40.00% +50.00% Bovet Franck Muller De Bethune Audemars Piguet Parmigiani Girard-Perregaux Richard Mille Roger Dubuis Breguet Average Greubel Forsey Jaeger-LeCoultre Jaquet Droz Blancpain Patek Philippe A. Lange & Söhne Vacheron Constantin Ulysse Nardin Glashütte Original © Digital Luxury Group, DLG SA, 2014 8 § Glashüce Original is the fastest growing Haute Horlogerie brand while Vacheron Constantin shows the strongest evolution within the bigger brands. Last year’s rising star Richard Mille, showing signs of slowdown. Growth Rates of Haute Horlogerie Brands in 2013 vs. 2012 Jan – Nov 2013 Y/Y Evolution of Global Brand Interest
- 9. The Leading Market Research in the Luxury Watch Industry. Since 2004. © Digital Luxury Group, DLG SA, 2014 9 2013 2012 Brand Models Total 1 1 = Audemars Piguet Royal Oak 13.37% 2 2 = Audemars Piguet Royal Oak Offshore 8.87% 3 4 æ Jaeger-Lecoultre Master 8.04% 4 3 è Jaeger-Lecoultre Reverso 7.87% 5 6 æ Patek Philippe Nautilus 5.90% 6 5 è Patek Philippe Calatrava 5.45% 7 7 = Blancpain Fifty Fathoms 2.80% 8 11 æ Ulysse Nardin Marine Collection 2.74% 9 9 = Breguet Type Xx / Type Xxi 2.01% 10 8 è Franck Muller Crazy Hours 1.87% SUB-TOTAL 58.92% OTHERS 41.08% TOTAL 100.00% Royal Oak Audemars Piguet § Audemars Piguet’s Royal Oak reinforces its leadership as the #1 Haute Horlogerie model #1 Haute Horlogerie Model [13.37% market share] Top 10 Most Sought-After Haute Horlogerie Collections in 2013 Jan – Nov 2013
- 10. The Leading Market Research in the Luxury Watch Industry. Since 2004. © Digital Luxury Group, DLG SA, 2014 10 Reverso Jaeger-LeCoultre Sky Moon Tourbillon Patek Philippe § Royal Oak + Royal Oak Offshore lead in 14 markets, however in the remaining 6 markets (FR, TH, JP, RU, TW, CN) local preferences arise. France’s #1 [18.74% market share] Russia’s #1 [8.94% market share] China’s #1 [8.42% market share] Global Haute Horlogerie Watch Preferences Differ Jan – Nov 2013 Overseas Vacheron Constantin
- 11. The Leading Market Research in the Luxury Watch Industry. Since 2004. A. Lange & Sohne Audemars Piguet Blancpain Bovet Breguet De Bethune Franck Muller Girard-PerregauxGreubel Forsey Jaeger-LeCoultre Jaquet Droz Parmigiani Richard Mille Roger Dubuis Ulysse Nardin Vacheron Constantin 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 0 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 © Digital Luxury Group, DLG SA, 2014 11 The Growing Impact of Social Media [Benchmarking Facebook Community Size & Post Engagement Rate for Haute Horlogerie Brands] § Facebook confirmed as a strategic communication channel, 1,568 K total fans, up 130% vs. 2012 § Improved brand social efforts in 2013 as average engagement rate increases to 1.31% vs. 1.24% in 2012 Jan – Dec 2013 EngagementRate (Jan-Dec2013) Number of Facebook Fans (at end of Dec 2013) Average Engagement Rate: 1.31%
- 12. The Leading Market Research in the Luxury Watch Industry. Since 2004. § 35 million total brand post views, decreased by -‐‑17% from 2012. § Glashüce Original and Vacheron Constantin, which had strongest year-‐‑to-‐‑year evolution also showed strongest rise in interest in Forums. 0 2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 Purist pro Time Zone Iwatch 365 © Digital Luxury Group, DLG SA, 2014 12 Online Watch Forums Show Slight Slowdown [Top 10 Most Popular Haute Horlogerie Brands on Selected Watch Forums] Jan – Dec 2013 NumberofBrandPostViews Jan–Dec2013 -4.48% -9.69% -29.96% -43.79% +48.67% +53.36% -44.47% +5.73% -42.47% -43.12%
- 13. The Leading Market Research in the Luxury Watch Industry. Since 2004. About Digital Luxury Group Digital Luxury Group (DLG) is the digital partner of forward-thinking luxury brands. With offices in Geneva, New York and Shanghai, DLG combines leading brand intelligence with bespoke digital marketing services. From creation to implementation, we empower brand strategies with our proprietary data and research. Since 2004, DLG has been publishing the WorldWatchReport™ a baseline market study for the watchmaking industry in partnership with Europa Star and with the precious support of the Fondation de la Haute Horlogerie. Contact: Tamar KOIFMAN International Client Development Director +41 22 702 07 60 [email protected] © Digital Luxury Group, DLG SA, 2014 13 WHO ARE WE? Visit our website to get detailed information: www.worldwatchreport.com or www.digital-luxury.com
- 14. The Leading Market Research in the Luxury Watch Industry. Since 2004. Search Queries Extracted from search engines, the search queries collected in the WorldWatchReport™ encompass a large semantic field of 17k+ keywords related to the brands including synonyms, plurals and misspellings. Languages Search queries are tracked in all major languages according to each key market: Portuguese, Russian, simplified and traditional Chinese, Taiwanese, Japanese, French, Italian, Spanish, German, Thai and Arabic. Search Engines Based on Google, Bing, Yandex in Russia and Baidu in China, the WorldWatchReport ™ covers an average of 85% search market share globally. Data Collection and Analysis Public and professional tools are used to automate search volume collection, thanks to Digital Luxury Group’s strong partnerships with search engines. Once collected, this data is filtered, analyzed and translated into 14 intentions (brands, models, replicas, etc.) using exclusive Digital Luxury Group’s proprietary semantic analysis technology. Brand Grouping Thanks to the contribution and feedback from several watchmaking industry experts from the media, brands and retailers, the following criteria have been taken into consideration to define 5 coherent watch brand categories: - Brand positioning (market and target audience) - Offer (average entry price of key collections) - Volume (similar volume of online demand) - Competitive environment Harmonization As multi products brands, such as Cartier, Chopard or Bulgari, may generate significantly more search volume than watch-only brands, data is harmonized to identify watch-only demand and exclude demand for other products (for ex. “Cartier jewelry”, “Tag Heuer mobile phone”, etc.). Similar corrections have been made for brands whose names could be associated with other products, such as Montblanc, Omega or Zenith. Social Media engagement rate The engagement rate is a qualitative indicator measuring the level of interactivity between a brand and its community on each Social Media platform. Its calculation is based on the average number of feedback (“Likes” and “Comments”) per individual post published by the brand (“Status Updates”), divided by the number of Fans on date of publication. Brand Forums Popularity on Forums is a quantitative measurement calculated as the total number of views of each post published on the dedicated sections of brands in TimeZone, PuristsPro and iWatch365 from January 1st to Dec 31st, 2012. © Digital Luxury Group, DLG SA, 2014 14 METHODOLOGY.