Frederique Constant bets on affordable luxury watches to win post-pandemic market
The young will lead the next wave of watch buyers – and the brand is in a sweet spot to catch them, says CEO Niels Eggerding
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SALES of high-price timepieces took off unexpectedly during the Covid lockdown, leaving models priced in the mid-range (S$1,000 to S$5,000) largely unsold. Now, post-pandemic, Niels Eggerding, CEO of Frederique Constant, says buyers are coming back for them.
The shift in buying habits is driven by young budget-conscious customers and this is already evident in the popularity of Tissot’s PRX, according to him. Well-crafted and beautifully designed, the PRX is priced at only a fraction of the price of a Rolex or Patek Philippe model. And buyers can’t get enough of it.
Frederique Constant is perched at a slightly higher price point but, Eggerding believes, still in a sweet spot to catch the next wave of consumers who want a luxury timepiece and yet are very sensitive to how much to pay.
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