High-End Watch Companies with Effective Marketing
All luxury watch brands are competing to gain a larger slice of the $6 billion global luxury watch market’s income and market share.
When it comes to expensive watches, Rolex is consistently the best brand. Rolex is the pinnacle of luxury and a great marketing ploy, with a name recall that resonates around the globe.
A quarter of the whole global luxury market is controlled by Rolex.
Why Demand for Luxury Watches is Growing
Ten luxury watch brands stand head and shoulders above the others when it comes to a good marketing plan and brand identification.
The primary challenge in the luxury watch market is converting this rich heritage into a message that would appeal to the younger generation because all of these brands have a long and storied history.
Branding in the High-End Watch Industry
A premium timepiece has long been regarded as a symbol of achievement. Luxury watch owners represent the pinnacle of self-actualization.
People who lean toward expensive watches are thought to have an excellent sense of craftsmanship and design.
All of the companies that are regarded as top luxury watch companies have a rich history.
With watchmaking, tradition is important. But how do these businesses ensure that they are appealing to the new generation while maintaining their tradition?
In a Deloitte study of the Swiss watch business, 67% of executives predicted that offline sales would remain the primary source of revenue.
Given that almost half of the consumers prefer to make purchases online or through social media, digital channels will continue to be used to raise awareness of luxury brand names.
Premium digital marketers can communicate with their devoted fans on social media for luxury businesses. Although there will always be traditional advertising, people are increasingly turning to other forms of advertising, particularly those that are digital.
The brand concept fills in this gap by essentially translating the traditional message that luxury watchmakers aim to convey into a language that the younger generation will understand and relate to.
How to Implement the Concept of a Luxury Brand
Implementing the luxury brand concept can be done by:
- Marketing and social media
- Social media platforms for digital advertising
- Website creation
- Making digital content
- Electronic installations
Which Brands Of Luxury Watches Are The Top 10?
Here are the top 10 luxury watch companies that can successfully combine a distinctive brand concept with a potent marketing plan:
- Piguet Audemars
- Vacheron Constantin
- Rolex
- Jaeger-LeCoultre
- Patek Philippe
- Blancpain
- Chopard
- Omega
- Ulysse Nardin
- Â Piaget
Leading ten luxury watch brands
1. Audemars Piguet
Since its founding in 1875, Audemars Piguet has been creating stunning and enduring timepieces. With the debut of the AP Royal Oak series, which combined the use of non-precious metals and athletic design, this brand established its reputation as an innovator.
The business opened the first pop-out store on WeChat as a Swiss watchmaker in 2018. The brand was able to take advantage of the luxury watch market’s enormous potential in China because of this marketing strategy.
2019 saw the arrival of Audemars Piguet’s “Code 11.59” watch series, which was aimed at a younger and better-connected generation.
2. Vacheron Constantin
Vacheron Constantin, known as the oldest Swiss watchmaker, has been in business since 1775. This company specializes in producing watches that are specifically tailored for each customer. The majority of watches are incredibly beautiful and the pinnacle of perfection.
As you can see from this article, Vacheron Constantin’s brand strategy strongly emphasizes integrating its timeless heritage with its forward-thinking nature.
Their Chief Marketing Officer, Laurent Perves, goes on to say that while their strategy hasn’t altered much since the brand’s foundation, they are aware of the value of their history and continue to adhere to their core values. The business has also realized that innovation ought to come first.
The major objective of Vacheron Constantin is to remain exclusive while also making as many people as possible who can appreciate what they produce. This may sound contradictory, but to further demonstrate, while only a small number of individuals may like their watches, many people might appreciate its branding and messaging.
3. Rolex
The most well-known of the top ten luxury watch manufacturers on this list is Rolex. The strong resale value of Rolex is reflected in its $7.9 billion total brand value. This indicates that the timepieces they create are excellent investments since they value time.
Hans Wilsdorf established Rolex in 1926, making it the pinnacle of premium watchmaking. Because of its reputation as a top brand, it gives the impression that the business doesn’t need to run any specific marketing activities to raise brand recognition.
The highest production quality is something the Rolex brand takes great pride in. Their primary marketing tactic is to draw attention to the process they use to make their timepieces. To raise the worth of their watches, the company has mastered the production of watch mechanisms and added unique stones and metals.
Rolex makes use of contemporary social media platforms including YouTube, Instagram, Twitter, and Facebook. This expands their audience and helps them connect with those not physically close to their brick-and-mortar establishments.
“A Crown for Every Achievement” is the primary Rolex catchphrase, which is also represented by their crown emblem. The key takeaway from this tagline is the power of visualizing owning a Rolex and using this expensive watch as a symbol of achievement and success. In the end, Rolex is a lifestyle as much as a brand.
4. Jaeger-LeCoultre
The Swiss Jura Mountains were the site of the founding of Jaeger-LeCoultre in 1833. This company, a well-respected name, is regarded as one of the most creative in the entire world.
The fact that this firm produces its movements distinguishes it and helps to establish its reputation as a leading Swiss watchmaker. The Reverso, a square watch that can be turned over to protect the face, was made by Jaeger-LeCoultre.
A warranty program called “Jaeger-Lecoultre Care Program” was introduced by the business online in 2019. This implies that precise information about their clients is gathered if they choose to participate in this program. This translates to the business attempting to understand who its high-end clients are and forging a closer bond with them.
5. Patek Philippe
Patek Philippe is renowned for its incredibly complex and elaborate designs. Patek Philippe, which has been operating for a while and is among the top 10 luxury watch companies, is also recognized as the creator of the first wristwatch.
In 1996, Patek Philippe launched its Generations campaign, which portrayed their clocks as heirlooms that could be passed down from one generation to the next. With the slogan “Begin your tradition,” it emphasizes the watches as a component of a family’s history and legacy.
6. Blancpain
Blancpain was founded in 1735 and is well known for producing diving watches. Since then, it has advanced watchmaking processes. The flying tourbillon, designed by Blancpain, has the complication of a cage with a ball bearing.
Due to the introduction of more affordable and precise quartz versions by the Japanese in the 1980s, the Swiss luxury watch industry experienced a crisis. Blancpain was a struggling brand in 1981 when Jean-Claude Biver purchased the rights to the company.
Fast forward ten years and Biver successfully revived the ailing Swiss company before selling it to The Swatch Group for $80 million.
Blancpain’s dedication to the technical aspects of watchmaking and ongoing innovation is considered to be the secret to its success.
7. Chopard
In Sonvillier, Switzerland, Louise-Ulysse Chopard established the L.U.C firm, which is now known as Chopard. As timepiece sales spread throughout Europe, Chopard finally started supplying Tsar Nicholas II of Russia.
With the adoption of the new motto “The Artisan of Emotions in 1860,” Chopard’s brand strategy changed in 2018. This demonstrates the company’s dedication to its lengthy and interesting past while also reiterating the idea that its watches were created and motivated by emotion.
Being one of the few family-owned companies, Chopard stands out. This is significant since their brand strategy develops from their past and natural expansion.
The company debuted Happy Hearts in 2015 to appeal to a younger demographic. With a combination of diamonds and hearts in turquoise, onyx, and mother of pearl, the pieces in this collection have a much younger aesthetic.
Chopard was able to reach a wider audience because of its US e-commerce success. It’s interesting to note that the corporation sells more jewelry than watches through its US online presence.
8. Omega
Louis Brandt founded the luxury watch company Omega in 1903, and it has a well-known name all over the world. The luxury label of the Swatch Group is called Omega.
Omega has appeared in every James Bond film and is the official timepiece of the spy. Buzz Aldrin wore it as he took his first steps on the moon, making it the first watch to reach space.
When it comes to market share, Omega consistently ranks in second place to Rolex. In the global market, Rolex has a 24.9% market share while Omega has an 8.8% market share.
Because their timepieces come in a variety of pricing ranges, this company can appeal to a wider audience. Both inexpensive entry-level watches and watches that cost more than $100,000 are available.
Omega began promoting its timepieces on Instagram in 2017 with the #SpeedyTuesday design. The company has now been able to connect with a different demographic than they were previously.
Omega is particularly active on Instagram, where it posts pictures, holds contests and runs influencer marketing campaigns. Omega was able to communicate its message by using targeted marketing and paying attention to client input on social media to create marketing campaigns that can attract more customers.
9. Ulysse Nardin
When Ulysse Nardin started his watch company, he was just 23 years old. His father, who was also a watchmaker, served as an inspiration to him. Marine chronometers are the primary component of the company’s watches.
This brand stands out because it can produce both contemporary collections and minimalist watch designs. This enables them to serve a wider range of clients with diverse design preferences.
Most of their advertising uses underwater images of scuba divers because their timepieces are more on the nautical side.
One of their 2018 advertising ads featured sharks in Shanghai and New York City as a metaphor for the powerful animals being removed from their natural environment. This also implies that sharks are constantly on the move and looking for a change. Sharks are seen as strong creatures that can command success in commerce and finance.
10. Piaget
Piaget, which was established in 1874 by Georges Edouard Piaget, is known for producing extremely thin watches and frequently breaks world records in this category.
Quentin Herbert, who was appointed Head of Watch Marketing for this prominent brand in 2019, made some adjustments to the well-liked company. The 12 collections were reduced to 4. The various price points that the timepieces come under are represented by these four collections.
Brighter colors were also incorporated, which was another significant improvement Herbert made. Traditionally, Piaget was created in black or blue, but they now use brighter colors like yellow, which is more calming and aesthetically beautiful.
Conclusion
The fact that each of these top 10 luxury watch companies has a lengthy and colorful history that has withstood the test of time unites them in one way. The biggest challenge for many businesses is maintaining their authenticity while simultaneously reaching a larger and younger audience.
Luxury watch companies can extend their reach and communicate with customers who are far from their physical stores with the use of brand ideas and digital marketing.
The exclusivity that gives these high-end watch companies their success must be maintained at all times.
Some people might think that promoting luxury watches on various social media platforms has an impact on the exclusivity aspect, but if anything, this just spreads the idea that having a luxury timepiece is a significant life milestone that symbolizes one’s success and accomplishments.
In the end, buyers are captivated by these timepieces not only for their aesthetic beauty and exceptional quality but also for the messages that the individual brands are personifying.
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Read More About the History of Watches and popular luxury brands such as Rolex and Omega
