Booming online luxury goods sales convert watchmakers to the web
A Carrera “Tete De Vipere” Chronograph Tourbillon Chronometer watch of Swiss watch manufacturer TAG Heuer is seen at the Baselworld watch and jewellery fair in Basel, Switzerland March 22, 2018. REUTERS/Arnd Wiegmann
BASEL, Switzerland (Reuters) – A boom in online luxury goods sales is finally convincing high-end watchmakers, long skeptical that customers would pay thousands to buy intricate timepieces on the web, to step up their investments in e-commerce.
A Carrera “Tete De Vipere” Chronograph Tourbillon Chronometer watch of Swiss watch manufacturer TAG Heuer is seen at the Baselworld watch and jewellery fair in Basel, Switzerland March 22, 2018. REUTERS/Arnd Wiegmann
Courting younger shoppers, brands large and small are joining an online push sweeping the luxury goods world, where web sales are already major growth drivers for fashion labels. ?We didn?t realize the speed at which millennials would take to buying cars or watches online,? said Jean-Claude Biver, head of LVMH?s (LVMH.PA) watch business, in an interview at the Baselworld watch trade fair.
LVMH?s Tag Heuer, a label long associated with motor racing, is looking to fully build out its own shoppable sites over the next 18 months, Biver added. Tag already operates online stores in five countries including the United States and Britain, and has a partnership in China with JD.com (JD.O), the company said.
LVMH sister brands Hublot and Zenith are yet to follow suit.
Many watchmakers h...
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