Consumer demand for luxury watches is likely to accelerate in the next six months, especially for pricy and sporty styles, according to a Goldman Sachs survey, which found a record 89 percent of retailers expect a sustained uptick for the category.
PARIS — Consumer demand for luxury watches is likely to accelerate in the next six months, especially for pricy and sporty styles, according to a Goldman Sachs survey, which found a record 89 percent of retailers expect a sustained uptick for the category.
The results, the most bullish since the investment firm initiated the survey in 2003, bodes well for the industry as the Baselworld watch and jewelry fair kicked off Thursday for an eight-day run.
Based on responses from 89 international retail groups, representing more than 600 stores, the survey said most of the sales gains were expected to come from enhanced product mixes and higher prices, underlining the pricing power of luxury watch brands. Some 82 percent of respondents expected strong demand for high-end watches. By contrast, the low end is expected to stagnate while "the mid-end stabilizes," the study said.
Retailers said they expected Cartier and Rolex to continue to lead the pack in absolute sales. Omega, in third place, was expected to decelerate slightly, and Tag Heuer retained its fourth-place ranking and strong momentum.
"Gucci remains the brand likeliest to show the largest decline in sales over the next six months, according to 19 percent of respondents," the report noted.
By contrast, retailers expected positive momentum for the Bulgari, Jaeger-LeCoultre and IWC brands.
Among listed firms, Compagnie Financière Richemont was expected to show the strongest momentum, the report said. Richemont owns Cartier, IWC, Jaeger-LeCoultre, Piaget, Baume & Mercier, Panerai, Montblanc and Dunhill.
Taking the final spot on the mens’ portion of New York Fashion Week calendar next month will be none other than @tomford. Though he’s shown his men’s wear in New York in the past, this will mark the first time the designer has shown his men’s collection alone during New York Fashion Week: Men’s. His runway show will debut on February 6 at the Park Avenue Armory. #wwdfashion
London-based couture house @ralphandrusso has certainly been in the spotlight, having its dresses worn by @beyonce, Angelina Jolie, Meghan Markle in her engagement photos and more. For couture, Tamara Ralph focused on ornamentation — think: feathers with chain mail, jet embroidery and clusters of pearls and crystals. See the rest of the collection on WWD.com #wwdfashion #couture (📷: @giovanni_giannoni_photo)
Minnie Mouse celebrated her 90th birthday by getting her own star on the Hollywood Walk of Fame. For her celebratory luncheon, @coach’s creative director @stuartvevers dressed her in a custom made prairie dress, complete with Vever’s take on the polka dot – black sequined versions – under a cropped motorcycle jacket. The designer also put his own mark on Minnie’s classic red shoes, infusing the color with sparkles and adding some Coach crystals. “We chose colors that were very Minnie and also represented quintessential Coach elements,” said Vevers. #wwdfashion #nationalpolkadotday (📷: George Chinsee)
@nickjonas is unveiling his first-ever apparel collection through a partnership with John Varvatos. The limited-edition capsule, which makes its debut in spring, also marks the first time the designer has collaborated with anyone on a line. “The process in working with Nick is amazing. It’s inspiring to be around someone who is not only connected with the trade that they do, but also with what’s happening in the environment around him, and how that connects to what we do with style,” said Varvatos. (RG: @johnvarvatos) #wwdfashion
@margotrobbie steps out onto the red carpet wearing @miumiu. The actress is nominated for “Outstanding Performance by a Female Actor in a Leading Role” in “I, Tonya” at the #SagAwards. (📷: Stewart Cook) #wwdfashion
For @massimogiorgetti of @msgm, the Nineties are his favorite decade. “They had a huge impact on my personal growth. What I like of the Nineties is that they are not so precise in terms of style as other decades…there was actually a bit of everything,” he said. As seen on MSGM’s Spring 2018 show: tie-dye and a bit of grunge, two styles that are synonymous with the decade #wwdfashion #wwddecades (📷: @kukukuba)