E-COMMERCE
Booming online luxury goods sales convert watchmakers to the web
Tag Heuer, Bulgari and others are making more of a push online
Basel — A boom in online luxury goods sales is finally convincing high-end watchmakers, long sceptical that customers would pay thousands to buy timepieces on the web, to step up investments in e-commerce. Courting younger shoppers, brands large and small are joining an online push sweeping the luxury goods world, where web sales are already big growth drivers for fashion labels. "We didn’t realise the speed at which millennials would take to buying cars or watches online," said Jean-Claude Biver, head of LVMH’s watch business. LVMH’s Tag Heuer aims to expand its own shopping sites over the next 18 months, Biver said. Tag already operates online stores in five countries and has a partnership in China with JD.com. LVMH sister brands Hublot and Zenith are yet to follow suit. Many watchmakers have flirted with web sales, though often through one-off collaborations with multibrand web retailers. Tech-savvy shoppers in Asia have partly inspired a drive to do more — China overtook the US ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.