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The Leading Market Research in the Luxury Watch Industry. Since 2004




The Leading Market Research in the Luxury Watch Industry
                                Since 2004

                    www.worldwatchreport.com
The Leading Market Research in the Luxury Watch Industry. Since 2004




                   Since 2004, the WorldWatchReport™ has
                   provided the luxury watch industry with an
                   exclusive analysis of the leading brands, models
                   and client preferences. The WorldWatchReport™
                   is based on more than 1 billion unaided client
                   intentions entered into search engines.




                   This search data is collected using Digital Luxury
                   Group’s proprietary technology, and is translated
                   into client intentions related to brands, models,
                   distribution, replicas, price, accessories etc.*

                   *A detailed explanation of the methodology is available on www.worldwatchreport.com/




© Digital Luxury Group, DLG SA, 2012                                                                                          2
The Leading Market Research in the Luxury Watch Industry. Since 2004




© Digital Luxury Group, DLG SA, 2012                                                                          3
The Leading Market Research in the Luxury Watch Industry. Since 2004




                                          United Kingdom 9.33%
                                                  -0.74 (y/y)          Germany 6.38%
                                                                            -1.77 (y/y)
  United States 21.20%
         -9.24 (y/y)



                                                                                                                                             Russia 4.64%
                                        France 6.80%                                                                                              + 0.49 (y/y)
                                           +0.35 (y/y)

                                                                                 Qatar 0.19%
                                       Spain 2.87%
                                                                                                                                             Japan 7.19%
                                          Switzerland 1.57%                                                                                        +3.52 (y/y)
    Mexico 1.36%
                                                                                                                                        China 22.88%
                                               Italy 5.18%                                India 2.38%                                        +7.79s (y/y)
                                                   -1.02 (y/y)                              +0.63 (y/y)
     Brazil 2.28%                                                 Saudi Arabia
                                                                                                                                     Taiwan 0.94%
          +0.00 (y/y)                                               0.42%
                                                                                              Thailand 1.86%
                                                                                                                                  Hong Kong 0.83%
                                                                 United Arab Emirates 0.49%
                                                                                                                             Singapore 1.19%

                                                                                                                                       January to December 2011
                                                                                                               Y/Y evolution at constant range vs. last year results
© Digital Luxury Group, DLG SA, 2012                                                                                                                             4
The Leading Market Research in the Luxury Watch Industry. Since 2004




                    
                                       For the first time since the study launched in 2004, China
                                       overtook the USA as the country exhibiting the highest demand
                                       for luxury watches with a 23% market share.

                   
                                       Highest year-over-year increases were recorded in China (+7.8
                                       percentage points), Japan (+3.5 pp), India (+0.6 pp) and Russia
                                       (+0.5 pp) while most western markets experienced significant
                                       market share drops, especially the US (-9.2 pp), Germany (-1.7 pp)
                                       and Italy (-1 pp).

                    
                                       Russia (capturing 4.6% of total searches), India (2.4%) and Brazil
                                       (2.3%) are positioned as strategic second-tier growth markets,
                                       ahead of the Middle East (1.1%), Taiwan (0.9%) and Hong Kong
                                       (0.8%).

© Digital Luxury Group, DLG SA, 2012                                                                                    5
The Leading Market Research in the Luxury Watch Industry. Since 2004




                                     Share of
   Rank    Administrative Division
                                     searches
     1     Beijing北京                  6.6%
     2     Shanghai上海                 6.1%
     3     Zhejiang浙江                 5.8%
     4     Guangdong广东                5.8%
     5     Jiangsu Province江苏         5.3%
     6     Liaoning Province辽宁        4.4%
     7     Shandong山东                 4.3%
     8     Henan河南                    3.8%
     9     Fujian Province福建          3.6%
    10     Hebei河北                    3.6%
    11     Tianjin天津                  3.6%
    12     Hubei湖北                    3.5%
    13     Sichuan Province四川         3.5%
    14     Heilongjiang黑龙江            3.4%
    15     Anhui安徽                    3.2%
    16     Shaanxi陕西                  3.0%
    17     Jilin吉林                    3.0%
    18     Hunan湖南                    2.9%
    19     Shanxi山西                   2.9%
    20     Chongqing重庆                2.6%
    21     Guangxi广西                  2.5%
    22     Jiangxi Province 江西        2.4%
    23     Inner Mongolia内蒙古          2.3%
    24     Yunnan云南                   2.2%
    25     Guizhou贵州                  1.7%
    26     Xinjiang新疆                 1.7%
    27     Hong Kong香港                1.6%
    28     Hainan海南                   1.6%
    29     Gansu Province甘肃           1.4%
    30     Ningxia宁夏                  0.9%
    31     Qinghai青海                  0.5%
    32     Tibet西藏                    0.3%

Baidu Data Only                                                                                                        January to December 2011

  © Digital Luxury Group, DLG SA, 2012                                                                                                     6
The Leading Market Research in the Luxury Watch Industry. Since 2004




                    
                                       Composed of three major regions and 56 ethnics groups, China’s
                                       diversity requires an in-depth understanding of local culture and
                                       clientele preferences.

                    
                                       Large coastal region cities such as Beijing, Shanghai, Hangzhou,
                                       and Dalian, gathered 57% of the nation’s share of searches for
                                       luxury timepieces, highlighting the opportunity for brands to tap
                                       into developing central China.

                    
                                       While Omega and Longines hold the top 2 positions in most
                                       provinces, Guangdong province shows a preference for Rolex,
                                       Cartier’s highest interest level is in Shanghai, Patek Philippe is
                                       most favored by Beijing and Guangdong provinces, and Vacheron
                                       Constantin captures the lion share in Zhejiang and Jiangsu.

© Digital Luxury Group, DLG SA, 2012                                                                                    7
The Leading Market Research in the Luxury Watch Industry. Since 2004




                                                                                                              January to December 2011

© Digital Luxury Group, DLG SA, 2012                                                                                              8
The Leading Market Research in the Luxury Watch Industry. Since 2004




                    
                                       The top 3 worldwide luxury watch brands outshine the other
                                       brands, gathering 41% of the total global market share for
                                       consumer interest.

                    
                                       Highest year-over-year increases were seen for Omega (+1.78
                                       percentage points) and Longines (+1.35 pp) – where China counts
                                       for 30% and 66% of total demand, respectively. Breitling (-2.1 pp)
                                       and Rolex (-1.6 pp), on the other hand, are losing share of the total
                                       global interest - two brands for which China accounts for 2.5% and
                                       13% of total searches, respectively.

                    
                                       Among the 15 newly tracked brands in the study, three appeared
                                       in the Top 15. Fashion brand Chanel, Richemont-owned Panerai,
                                       and Rolex’s sister brand Tudor ranked highly, evidencing their
                                       position as key industry actors.

© Digital Luxury Group, DLG SA, 2012                                                                                     9
The Leading Market Research in the Luxury Watch Industry. Since 2004




                                                                                                       Historical search market share evolution at
                                                                                                       constant perimeter (25 brands, 10 markets)

© Digital Luxury Group, DLG SA, 2012                                                                                                         10
The Leading Market Research in the Luxury Watch Industry. Since 2004




                    
                                       By gaining +2 percentage points in market share in the US (the 2nd
                                       largest market) and recording an increase of 20% to 38% in the
                                       European markets, Rolex has been able to maintain its position as
                                       the most searched for brand in the luxury watch industry in 2012.

                    
                                       Accelerated by the Beijing Olympic Games in 2008, Omega’s
                                       development in China reached a new peak this year (+4
                                       percentage points), by becoming the most searched brand in
                                       China, with 20.2% of total searches. Longines follows with 18.9%
                                       of total searches and Rolex in third position with 10.5%.

                    
                                       The trends observed show that there very well could be a shift in
                                       leadership in the coming years. Something to watch for…
© Digital Luxury Group, DLG SA, 2012                                                                                    11
The Leading Market Research in the Luxury Watch Industry. Since 2004




             2012 2011 2010                 Brand              Models               Total

                1         1        1   =    Omega             Seamaster             5.02%

                2        2        3    =     Rolex           Submariner             4.89%

                3        3        4    =     Rolex             Daytona              3.86%

                4        6        5       Tag Heuer           Carrera              3.56%

                5        5        7    =     Rolex             Datejust             3.15%

                6        4        2        Omega           Speedmaster             2.80%
                                                                                                                      1. Seamaster
                7        21       27        Rolex            Day Date              2.04%                                 Omega

                8        18       18        Rolex             Explorer             1.81%

                9         7       8        Cartier              Tank               1.73%

               10        8         -        Rolex        Oyster Perpetual          1.69%

            SUB-TOTAL                                                              30.55%

            OTHERS                                                                 69.45%

            TOTAL                                                                 100.00%
                                                                                                      2. Submariner                  3. Daytona
                                                                                                           Rolex                        Rolex

                                                                        January to December 2011
© Digital Luxury Group, DLG SA, 2012                                                                                                              12
The Leading Market Research in the Luxury Watch Industry. Since 2004




                    
                                       Among the 1,300+ specific watch models tracked by the
                                       WorldWatchReport™, the top 10 models account for 30% of the
                                       total global interest.

                    
                                       For the last 3 years, Omega’s Seamaster, Rolex’s Submariner and
                                       Rolex’s Daytona have held the top three positions. This year,
                                       Omega’s Speedmaster fell two places, while Rolex’s Day Date and
                                       Explorer models jumped up in the rankings.

                    
                                       Iconic brands such as TAG Heuer and Cartier saw their highly
                                       popular collections Carrera (4th) and Tank (9th) featured in the top
                                       10 ranking of most-searched models – placing these brands in the
                                       league of heavy-hitters like Rolex and Omega.


© Digital Luxury Group, DLG SA, 2012                                                                                     13
The Leading Market Research in the Luxury Watch Industry. Since 2004




                                                                                                              January to December 2011

© Digital Luxury Group, DLG SA, 2012                                                                                             14
The Leading Market Research in the Luxury Watch Industry. Since 2004




                    
                                       Overall study results show a decrease of replica related searches,
                                       representing 1.85% of total searches compared to 4.5% last year.

                    
                                       China is now the 6th ranked market for replica related searches
                                       compared to its 4th place ranking last year. In 2011, 2.1% of total
                                       luxury watch searches in China were linked to an interest for
                                       counterfeits, but this year the figure has dropped to 0.51%. This
                                       underlines a Chinese consumer appreciation for genuine products.

                    
                                       Among the 40 brands analyzed, the demand for replica sport
                                       watches is the highest, with Rolex representing 51% of the total
                                       demand for counterfeits worldwide, followed by Breitling (9%)
                                       and Tag Heuer (5.3%).


© Digital Luxury Group, DLG SA, 2012                                                                                    15
The Leading Market Research in the Luxury Watch Industry. Since 2004




      The most comprehensive                  Country specific segment.                        Executive summary,
         edition, tracking the                 Detailed insights of the                     featuring the highlights of
     performance of 40 brands in             brands available for each of                     the Full Edition for 40
              20 markets                        the 20 markets.                                brands in 20 markets




                     For more information on the contents of each edition and how to pre-order, visit:
                                           www.worldwatchreport.com
© Digital Luxury Group, DLG SA, 2012                                                                                      16
The Leading Market Research in the Luxury Watch Industry. Since 2004




                   Digital Luxury Group, DLG SA, is the first international company dedicated exclusively
                   to the design and implementation of digital communication strategies for luxury brands.
                   Since 2004, DLG has been publishing the WorldWatchReport™ a baseline market study
                   for the watchmaking industry in partnership with EuropaStar and with the precious
                   support of the Fondation de la Haute Horlogerie.

                                                                                                                Contact:
                                                                                                  Nicolas HANSSENS
                                                                                                     Research Manager
                                                                                           nhanssens@digital-luxury.com

                                                                                                   Florent BONDOUX
                                                                                                  Business Unit Manager
                                                                                    Strategy & Intelligence Business Unit
                                                                                           fbondoux@digital-luxury.com

                                                                                            Digital Luxury Group, DLG SA
                                                                                                           7 Avenue Krieg
                                                                                                         CH-1208 Geneva
                    Visit our website to get detailed information:                                            Switzerland
                    www.worldwatchreport.com or www.digital-luxury.com


© Digital Luxury Group, DLG SA, 2012                                                                                        17

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WorldWatchReport™ 2012 Key Findings

  • 1. The Leading Market Research in the Luxury Watch Industry. Since 2004 The Leading Market Research in the Luxury Watch Industry Since 2004 www.worldwatchreport.com
  • 2. The Leading Market Research in the Luxury Watch Industry. Since 2004 Since 2004, the WorldWatchReport™ has provided the luxury watch industry with an exclusive analysis of the leading brands, models and client preferences. The WorldWatchReport™ is based on more than 1 billion unaided client intentions entered into search engines. This search data is collected using Digital Luxury Group’s proprietary technology, and is translated into client intentions related to brands, models, distribution, replicas, price, accessories etc.* *A detailed explanation of the methodology is available on www.worldwatchreport.com/ © Digital Luxury Group, DLG SA, 2012 2
  • 3. The Leading Market Research in the Luxury Watch Industry. Since 2004 © Digital Luxury Group, DLG SA, 2012 3
  • 4. The Leading Market Research in the Luxury Watch Industry. Since 2004 United Kingdom 9.33% -0.74 (y/y) Germany 6.38% -1.77 (y/y) United States 21.20% -9.24 (y/y) Russia 4.64% France 6.80% + 0.49 (y/y) +0.35 (y/y) Qatar 0.19% Spain 2.87% Japan 7.19% Switzerland 1.57% +3.52 (y/y) Mexico 1.36% China 22.88% Italy 5.18% India 2.38% +7.79s (y/y) -1.02 (y/y) +0.63 (y/y) Brazil 2.28% Saudi Arabia Taiwan 0.94% +0.00 (y/y) 0.42% Thailand 1.86% Hong Kong 0.83% United Arab Emirates 0.49% Singapore 1.19% January to December 2011 Y/Y evolution at constant range vs. last year results © Digital Luxury Group, DLG SA, 2012 4
  • 5. The Leading Market Research in the Luxury Watch Industry. Since 2004  For the first time since the study launched in 2004, China overtook the USA as the country exhibiting the highest demand for luxury watches with a 23% market share.  Highest year-over-year increases were recorded in China (+7.8 percentage points), Japan (+3.5 pp), India (+0.6 pp) and Russia (+0.5 pp) while most western markets experienced significant market share drops, especially the US (-9.2 pp), Germany (-1.7 pp) and Italy (-1 pp).  Russia (capturing 4.6% of total searches), India (2.4%) and Brazil (2.3%) are positioned as strategic second-tier growth markets, ahead of the Middle East (1.1%), Taiwan (0.9%) and Hong Kong (0.8%). © Digital Luxury Group, DLG SA, 2012 5
  • 6. The Leading Market Research in the Luxury Watch Industry. Since 2004 Share of Rank Administrative Division searches 1 Beijing北京 6.6% 2 Shanghai上海 6.1% 3 Zhejiang浙江 5.8% 4 Guangdong广东 5.8% 5 Jiangsu Province江苏 5.3% 6 Liaoning Province辽宁 4.4% 7 Shandong山东 4.3% 8 Henan河南 3.8% 9 Fujian Province福建 3.6% 10 Hebei河北 3.6% 11 Tianjin天津 3.6% 12 Hubei湖北 3.5% 13 Sichuan Province四川 3.5% 14 Heilongjiang黑龙江 3.4% 15 Anhui安徽 3.2% 16 Shaanxi陕西 3.0% 17 Jilin吉林 3.0% 18 Hunan湖南 2.9% 19 Shanxi山西 2.9% 20 Chongqing重庆 2.6% 21 Guangxi广西 2.5% 22 Jiangxi Province 江西 2.4% 23 Inner Mongolia内蒙古 2.3% 24 Yunnan云南 2.2% 25 Guizhou贵州 1.7% 26 Xinjiang新疆 1.7% 27 Hong Kong香港 1.6% 28 Hainan海南 1.6% 29 Gansu Province甘肃 1.4% 30 Ningxia宁夏 0.9% 31 Qinghai青海 0.5% 32 Tibet西藏 0.3% Baidu Data Only January to December 2011 © Digital Luxury Group, DLG SA, 2012 6
  • 7. The Leading Market Research in the Luxury Watch Industry. Since 2004  Composed of three major regions and 56 ethnics groups, China’s diversity requires an in-depth understanding of local culture and clientele preferences.  Large coastal region cities such as Beijing, Shanghai, Hangzhou, and Dalian, gathered 57% of the nation’s share of searches for luxury timepieces, highlighting the opportunity for brands to tap into developing central China.  While Omega and Longines hold the top 2 positions in most provinces, Guangdong province shows a preference for Rolex, Cartier’s highest interest level is in Shanghai, Patek Philippe is most favored by Beijing and Guangdong provinces, and Vacheron Constantin captures the lion share in Zhejiang and Jiangsu. © Digital Luxury Group, DLG SA, 2012 7
  • 8. The Leading Market Research in the Luxury Watch Industry. Since 2004 January to December 2011 © Digital Luxury Group, DLG SA, 2012 8
  • 9. The Leading Market Research in the Luxury Watch Industry. Since 2004  The top 3 worldwide luxury watch brands outshine the other brands, gathering 41% of the total global market share for consumer interest.  Highest year-over-year increases were seen for Omega (+1.78 percentage points) and Longines (+1.35 pp) – where China counts for 30% and 66% of total demand, respectively. Breitling (-2.1 pp) and Rolex (-1.6 pp), on the other hand, are losing share of the total global interest - two brands for which China accounts for 2.5% and 13% of total searches, respectively.  Among the 15 newly tracked brands in the study, three appeared in the Top 15. Fashion brand Chanel, Richemont-owned Panerai, and Rolex’s sister brand Tudor ranked highly, evidencing their position as key industry actors. © Digital Luxury Group, DLG SA, 2012 9
  • 10. The Leading Market Research in the Luxury Watch Industry. Since 2004 Historical search market share evolution at constant perimeter (25 brands, 10 markets) © Digital Luxury Group, DLG SA, 2012 10
  • 11. The Leading Market Research in the Luxury Watch Industry. Since 2004  By gaining +2 percentage points in market share in the US (the 2nd largest market) and recording an increase of 20% to 38% in the European markets, Rolex has been able to maintain its position as the most searched for brand in the luxury watch industry in 2012.  Accelerated by the Beijing Olympic Games in 2008, Omega’s development in China reached a new peak this year (+4 percentage points), by becoming the most searched brand in China, with 20.2% of total searches. Longines follows with 18.9% of total searches and Rolex in third position with 10.5%.  The trends observed show that there very well could be a shift in leadership in the coming years. Something to watch for… © Digital Luxury Group, DLG SA, 2012 11
  • 12. The Leading Market Research in the Luxury Watch Industry. Since 2004 2012 2011 2010 Brand Models Total 1 1 1 = Omega Seamaster 5.02% 2 2 3 = Rolex Submariner 4.89% 3 3 4 = Rolex Daytona 3.86% 4 6 5  Tag Heuer Carrera 3.56% 5 5 7 = Rolex Datejust 3.15% 6 4 2  Omega Speedmaster 2.80% 1. Seamaster 7 21 27  Rolex Day Date 2.04% Omega 8 18 18  Rolex Explorer 1.81% 9 7 8  Cartier Tank 1.73% 10 8 -  Rolex Oyster Perpetual 1.69% SUB-TOTAL 30.55% OTHERS 69.45% TOTAL 100.00% 2. Submariner 3. Daytona Rolex Rolex January to December 2011 © Digital Luxury Group, DLG SA, 2012 12
  • 13. The Leading Market Research in the Luxury Watch Industry. Since 2004  Among the 1,300+ specific watch models tracked by the WorldWatchReport™, the top 10 models account for 30% of the total global interest.  For the last 3 years, Omega’s Seamaster, Rolex’s Submariner and Rolex’s Daytona have held the top three positions. This year, Omega’s Speedmaster fell two places, while Rolex’s Day Date and Explorer models jumped up in the rankings.  Iconic brands such as TAG Heuer and Cartier saw their highly popular collections Carrera (4th) and Tank (9th) featured in the top 10 ranking of most-searched models – placing these brands in the league of heavy-hitters like Rolex and Omega. © Digital Luxury Group, DLG SA, 2012 13
  • 14. The Leading Market Research in the Luxury Watch Industry. Since 2004 January to December 2011 © Digital Luxury Group, DLG SA, 2012 14
  • 15. The Leading Market Research in the Luxury Watch Industry. Since 2004  Overall study results show a decrease of replica related searches, representing 1.85% of total searches compared to 4.5% last year.  China is now the 6th ranked market for replica related searches compared to its 4th place ranking last year. In 2011, 2.1% of total luxury watch searches in China were linked to an interest for counterfeits, but this year the figure has dropped to 0.51%. This underlines a Chinese consumer appreciation for genuine products.  Among the 40 brands analyzed, the demand for replica sport watches is the highest, with Rolex representing 51% of the total demand for counterfeits worldwide, followed by Breitling (9%) and Tag Heuer (5.3%). © Digital Luxury Group, DLG SA, 2012 15
  • 16. The Leading Market Research in the Luxury Watch Industry. Since 2004 The most comprehensive Country specific segment. Executive summary, edition, tracking the Detailed insights of the featuring the highlights of performance of 40 brands in brands available for each of the Full Edition for 40 20 markets the 20 markets. brands in 20 markets For more information on the contents of each edition and how to pre-order, visit: www.worldwatchreport.com © Digital Luxury Group, DLG SA, 2012 16
  • 17. The Leading Market Research in the Luxury Watch Industry. Since 2004 Digital Luxury Group, DLG SA, is the first international company dedicated exclusively to the design and implementation of digital communication strategies for luxury brands. Since 2004, DLG has been publishing the WorldWatchReport™ a baseline market study for the watchmaking industry in partnership with EuropaStar and with the precious support of the Fondation de la Haute Horlogerie. Contact: Nicolas HANSSENS Research Manager nhanssens@digital-luxury.com Florent BONDOUX Business Unit Manager Strategy & Intelligence Business Unit fbondoux@digital-luxury.com Digital Luxury Group, DLG SA 7 Avenue Krieg CH-1208 Geneva Visit our website to get detailed information: Switzerland www.worldwatchreport.com or www.digital-luxury.com © Digital Luxury Group, DLG SA, 2012 17