The latest report jointly issued by the US investment bank Morgan Stanley and Swiss consulting firm LuxeConsult shows that the Swiss watchmaking industry is accelerating its differentiation. The market share of major players is constantly increasing, and their growth rates are also clearly above average.

   It’s an impressive set of numbers and at a glance: 350 Swiss watch brands compete for the market, including Swatch, Rolex, Richemont and LVMH ) Occupies a 75% share and is absolutely dominant. The Swiss watchmaking industry continues to consolidate at a high level, which is one of the important findings of the 2019 Swiss watchmaking market report jointly released by the US investment bank Morgan Stanley and Swiss consulting firm LuxeConsult.

   The report estimates that Swiss watch retail sales in 2018 were 51.9 billion Swiss francs (excluding VAT). In comparison, according to the Swiss Watch Industry Federation (FH), Swiss watch exports reached 21.2 billion Swiss francs in 2018. According to the reported data, the composition of about 52 billion Swiss francs is as follows: Swatch Group accounts for 28.6%, Rolex (including Tudor) accounts for 23.5%, Richemont Group accounts for 18.4%, and Louvre Xuan Group (including BVLGARI Bulgari, TAGHeuer, Hublot and Zenith) accounted for 7.9%, leaving little room for other players in the market. Hermès watches have a turnover of 195 million Swiss francs and a market share of 0.7%. Kering (Kering, including GUCCI, Athenian and GP Girard Perregaux) has accumulated sales of 380 million Swiss francs, only 1.6% of the cake.

Industry ‘Seven Heroes’

   Morgan Stanley found that only a few brands had a turnover of more than CHF 1 billion in 2018. The ‘seven men’ in the industry are Rolex (5 billion Swiss francs), Omega (2.34 billion Swiss francs), Cartier (1.66 billion Swiss francs), Longines (1.65 billion Swiss francs), Patek Philippe (1.35 billion Swiss francs), Tissot ( 1.05 billion Swiss francs) and Audemars Piguet (1.03 billion Swiss francs). The report further states that these predators performed better than the market average in 2018: According to the Swiss Watch Industry Federation, Swiss watch exports increased by 6.3% year-on-year, and Morgan Stanley estimates that ‘1 billion Swiss francs The growth rate of ‘Lang Club’ members is close to 9%.

   In other words, large companies with broad price positioning do better than small companies. By seizing market share, the polarization of the watchmaking industry is accelerated; this phenomenon is also apparent within multinational companies. Of the 19 brands under the Swatch Group, three of the top-selling brands (Omega, Longines and Tissot) account for 60% of the group’s turnover and even higher profits.

Independent business

   The report also states that independent companies performed significantly better than listed groups in 2018, with Rolex, Patek Philippe, and Audemarssee achieving the highest sales and profits ever (according to estimates). The report states that this performance is partly a reflection of high-end positioning, with the average retail price (excluding VAT) of several watch-making brand products ranging from 12,200 Swiss francs to Rolex, 50,000 Swiss francs to Audemars Piguet, Patek Philippe’s 53,300 Swiss francs. The average retail price of RICHARDMILLE products is as high as 139,000 Swiss francs, and the brand’s sales in 2018 increased by 15% year-on-year! According to the data of the Swiss Watch Industry Federation, in 2018, Swiss watch export products with prices between 500 and 3,000 Swiss francs and products with export prices higher than 3,000 Swiss francs increased their exports by 7% and 7.3% respectively.

   Price positioning is one aspect. Morgan Stanley also pointed out other reasons for its outstanding performance, namely vertical integration, long-term management, zero tolerance for gray market behavior, small annual growth in production, and select distribution channels. For example, the report specifically mentions Tudor, whose average retail price is relatively low at 3,300 Swiss francs, with sales of 280 million Swiss francs in 2018, which has significantly outperformed Breguet and Girard Perregaux in recent years. table. Morgan Stanley said the performance difference between independent companies and listed groups is reflected in profitability. The operating profit margins of Rolex, Patek Philippe and Audemars Piguet exceeded 30%, while the operating margins of Richemont Group and Swatch Group were “only” 16.45% and 13.6%, respectively. (Photo / text watch home Xu Chaoyang)

Vacheron Constantin’s first passed the ‘Geneva Mark’ new standard certification watch & mdash; & mdash; Patrimony Traditionnelle 14-day power reserve tourbillon watch. This watch is equipped with the brand-new 2260 movement developed and manufactured by the brand, with a power reserve of 14 times.
The new Patrimony Traditionnelle tourbillon watch can pass the new ‘Geneva Mark’ standard, which naturally has its advantages. The 125th anniversary of the birth of the ‘Geneva Mark’ and the new inspection standard have been further improved. This 2260 hand-winding tourbillon movement is equipped with two pairs of four barrels, so it can provide a power reserve of up to fourteen days. Can be wound and relaxed at the same time, so the rotation rate is only a quarter of that of a single barrel configuration. The total length of the spring of the barrel is 2.2 meters, and each can rotate about 13 times. The diameter of the movement is only 12 3/4 legal minutes, which is 29.1mm. In addition to long-term energy storage, multiple barrels can better ensure the stability of the movement after long-term use.

In addition, the movement is composed of 231 parts, with two main boards as the main structure, which is different from the three tourbillons in the brand’s previous tourbillon. The larger the area of ​​the machine plate, the better the brand’s grinding skills can be demonstrated. Only the cylindrical tourbillon machine plate processing process has consumed eleven hours of manual grinding. In addition to the tourbillon display at 6:00 and its small seconds on the frame, the movement also features a non-centered hour and minute display. The fourteen-day power reserve display has a 280-degree hand rotation that is easy to read. The display is located at 12:00 on the silvery-white dial, and the design of the minute scale on the outer ring is inspired by classic pocket watches from many brands.

On April 21st, Breitling for Bentley’s most luxurious and precious ‘collection of treasures’ debuted in China for the first time and was exhibited at the grand opening of the Beijing Sanlitun City Hall in Bentley, Asia. As one of Bentley’s most important partners, Breitling and Bentley jointly presented a luxurious feast of the best Swiss watches and British luxury cars. Each piece of valuable timepieces is engraved with the two legendary letters ‘B’ flying soaring for ten years.

Join forces to the top
 Breitling and Bentley, two legendary brands that have also achieved great success in their respective fields with the so-called ‘B’ as their wings, are destined to converge on the road ahead and run side by side. Since 2002, ten years of cooperation have created a series of high-quality timepieces, creating a model of cooperation between top-level watches and luxury cars.

Bentley Continental GT Roadster

Bentley Continental models are equipped with Breitling dashboard clock
 Breitling constantly draws on Bentley’s legendary stories and classic design elements, and launches a variety of Breitling Bentley series watches that combine outstanding performance and noble temperament to present the car world with gifts. Each Breitling Bentley series watch is equipped with a high-performance self-winding mechanical movement certified by the Swiss Official Observatory (COSC), equipped with an exclusive technical patent, which perfectly combines superb technology with elegant aesthetics. In addition, the Bentley Continental series models are equipped with Breitling’s specially-designed dashboard clock to provide Bentley owners with top-end timepiece enjoyment.
Collection treasures shine in Beijing
 This time to celebrate the opening of Bentley’s new Beijing Sanlitun City Hall, Breitling brought the Bentley series of ‘collection treasures’ for the first time, giving Chinese watch fans a chance to taste the Breitling luxury timepieces in person. Just like a crown jewel, the Breitling Bentley Collection “Treasures” represents Breitling’s top watchmaking craftsmanship-rare materials, exquisite design, perfect appearance, top technology, powerful ‘engine’, unparalleled luxury and nobility, for collectors and love Lifetime pursuit of top watchmakers.
 There are a total of six Breitling Bentley collections in this exhibition, including Bentley Masterpiece, Bentley GMT White Gold with Diamond Baguette, Bentley Continental GT Chronograph Bentley GT Midnight Diamond, Bentley Flying BN ° 3 White Gold with Diamond Baguette, Bentley Banato Chronograph Red Gold ( Bentley Barnato Red Gold) and Bentley GMT Red Gold.

Bentley Pocket Watch Collector’s Edition

Bentley World Time Chronograph White Diamond Set

Bentley Continental GT Chronograph Star and Night Diamond Edition

Bentley Spread Speed ​​3 watch in white gold and diamonds

Bentley Banato Chronograph Red Gold Edition

Bentley World Time Chronograph Red Gold Edition
 The most precious of these is the Bentley Pocket Watch Collector’s Edition, which combines two of the most complex top-level watchmaking techniques-the perpetual calendar and the minute repeater, which is undoubtedly the ultimate pinnacle of Breitling. The pocket watch is equipped with an antique movement that is a precision combination of 550 parts. It is produced, assembled and debugged on the basis of the 19th century basic movement. It has been carefully crafted for a whole year and has passed the century-old precision with master watchmaking technology. Timepiece. To pay tribute to Mr. Walter Owen Bentley, the 18K yellow gold case cover is engraved with the pattern relief of Mr. Bentley’s steering wheel and the famous ‘WO’ acronym. So far Bentley engineers and craftsmen We, as well as all car lovers, still honor this awesome founder of Bentley.
New masterpiece continues the legend
 The enviable marriage of Breitling and Bentley continues. At the just-concluded 2012 Basel Watch Show, Breitling launched a number of new Breitling Bentley series chronograph watches, integrating more classic elements of Bentley with master watchmaking craftsmanship; with continuous innovation and excellence, it inherits the heritage of generations Fine workmanship and first-class aesthetic standards. Glittering, blooming on the wrist.