الجمعة, يونيو 7th 2024
Breitling CEO Georges Kern targets top 5 ranking for Swiss watch brands, focusing on emerging Asian markets and Generation Z.
Breitling CEO Georges Kern wants his brand to become one of the top 5 Swiss watch brands. Currently ranked number 8.
Despite China’s recent market dip, Kern remains optimistic, noting that China will continue to be significant. He highlights emerging markets in Asia, such as India, Indonesia, Malaysia, and Japan, as increasingly important.
Kern emphasized the potential in Japan, where around 70 million women each own a Louis Vuitton product. Accessibility to luxury goods is rising, and Kern believes everyone will eventually want luxury products.
Generation Z as a Target Audience
Kern sees Generation Z as crucial for Breitling’s growth. He predicts that young people, especially in China and Japan, will drive luxury goods purchases, accounting for three-quarters of such purchases within two years. Young adults in these regions often live at home, allowing them to spend more on luxury items.
The recent decline in the watch industry, according to Kern, results from a “false comparison.” The post-pandemic “revenge buy year” saw unprecedented luxury goods sales, followed by a “revenge-travel year.” Compared to pre-pandemic figures, the industry has now recovered.
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