Swot Analysis Of Watch

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Industry Profile: The luxury goods industry is playing a major dominant role in current market condition. As people are becoming wealthier their urge for luxury goods also increases and there by demand for luxury goods market increases. The luxury goods include automobiles, watches, jewellery, cloths, etc. the luxury market is said to have mainly three trends namely globalization, consolidation and diversification. Globalization because of high availability of goods, Consolidation has growth of big corporate organization and ownership of brands across many segments. Diversification is because of making additional amount of profit other than from the one segment. The market size of luxury good market has been seeing a steep increase since from 1996-2000, the industry which was going at a phase of 7.9% growth had raised to 23.3 percent and since then it is making a good growth over the year especially watches and jewelry segments. Although initially watches were regarded as time keeping devices they have positioned themselves as a symbol of prestige nowadays. Total luxury market size said to be $29.08 billion at a growth of 4% annually, where as luxury watch market in India is growing from last 6-7 years at a rapid rate of 20% significantly.…show more content…
Early time devices were the sundial and hourglass. Peter Hienlien in Nuremberg, Germany discovered portable time keeping devices and those were worn around the neck or on a belt or otherwise kept in the pocket. And these watches which were kept in the pockets were called as Nuremberg’s eggs. Therefore he is often credited as inventor of the watch. However like him there were other clockmakers from Germany who were engaged in creating miniature timepieces during same period and there are no proof Peter Hienlien was the

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