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Second-hand marketplaces in China have seen the price of Rolex Submariners .
Rolex in the Chinese market has significantly changed the passion for luxury watches among the higher social classes in China. With an effective .
Second-hand marketplaces in China have seen the price of Rolex Submariners drop by 46 per cent this year – which is shocking given that the same model was up 240 per cent in 2021.
Rolex in the Chinese market has significantly changed the passion for luxury watches among the higher social classes in China. With an effective marketing strategy, Rolex has become the Chinese luxury watch market being the second-largest luxury watch brand after Omega, despite being a late entrant.
The former venture capitalist is seeing a surge in people looking to sell their Hermes Birkin bags or Rolex watches to raise cash, as well as a jump in interest from belt-tightening shoppers.
According to a report by the Federation of the Swiss Watch Industry (FHS), mainland China and Hong Kong combined spent over 5 billion Swiss francs (5.49 billion) on watches in 2023, meaning. The prices of second-hand luxury goods have fallen rapidly in China over recent months, as even the wealthy cut back on their discretionary spending and sell their Rolex watches and Hermès bags. The former venture capitalist is seeing a surge in people looking to sell their Hermes Birkin bags or Rolex watches to raise cash, as well as a jump in interest from belt-tightening shoppers.While Rolex entered the Chinese market comparatively late, they did so boldly. They strategically placed their timepieces on the wrists of top-class brand ambassadors, such as Lang Lang, Li Yundi, and Yuja Wang, and have since become the most popular luxury watch brand in China.
As the China's economy fell short of expectations, even after it reopened post-Covid, so did the overall luxury-watch market which has been unable to reverse, by Jan. 1st, 2024, a two-year downward trend. Rolex has opened its first directly-operated boutique in China, located in Shanghai’s Taikoo Hui mall. This move strengthens Rolex's ties with the Chinese luxury market, offering consumers a more prem. Vogue Business conducted comprehensive research into luxury consumption behaviours, high-end watch usage patterns, brand preferences, and product demand among China’s younger consumer demographic, which covers both Gen Z and millennials.
Second-hand marketplaces in China have seen the price of Rolex Submariners drop by 46 per cent this year – which is shocking given that the same model was up 240 per cent in 2021. Rolex in the Chinese market has significantly changed the passion for luxury watches among the higher social classes in China. With an effective marketing strategy, Rolex has become the Chinese luxury watch market being the second-largest luxury watch brand after Omega, despite being a late entrant. The former venture capitalist is seeing a surge in people looking to sell their Hermes Birkin bags or Rolex watches to raise cash, as well as a jump in interest from belt-tightening shoppers. According to a report by the Federation of the Swiss Watch Industry (FHS), mainland China and Hong Kong combined spent over 5 billion Swiss francs (5.49 billion) on watches in 2023, meaning.
The prices of second-hand luxury goods have fallen rapidly in China over recent months, as even the wealthy cut back on their discretionary spending and sell their Rolex watches and Hermès bags.
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The former venture capitalist is seeing a surge in people looking to sell their Hermes Birkin bags or Rolex watches to raise cash, as well as a jump in interest from belt-tightening shoppers.
While Rolex entered the Chinese market comparatively late, they did so boldly. They strategically placed their timepieces on the wrists of top-class brand ambassadors, such as Lang Lang, Li Yundi, and Yuja Wang, and have since become the most popular luxury watch brand in China. As the China's economy fell short of expectations, even after it reopened post-Covid, so did the overall luxury-watch market which has been unable to reverse, by Jan. 1st, 2024, a two-year downward trend.
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Rolex has opened its first directly-operated boutique in China, located in Shanghai’s Taikoo Hui mall. This move strengthens Rolex's ties with the Chinese luxury market, offering consumers a more prem.
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