When it comes to fashion trends, there is no better way to find out what is coming up on the horizon than to speak to people at the forefront of the market. Christophe Chaix, Senior Vice President, Global Merchandising – Watches, Jewellery, Accessories & Sunglasses, DFS Group, shares his thoughts on what we can expect to see in the world of luxury watches
Macau CLOSER: Your career in luxury retail has taken you around the world, to places such as Latin America and the Middle East. What is it about Asia that draws you to it at this point in your professional life?
Christophe Chaix: I have always had a fascination for Asia. Over the past decade we have seen massive economic and social transformations in the region. These rapidly developing markets are part of what makes it such an exciting place to work at the moment. From a business standpoint, we at DFS continue to see great potential in Asia, particularly with more emerging market consumers entering the middle and upper classes. At the same time, there continues to be an intense appreciation for luxury goods in Asia, making it a perfect place for a company such as ours.
Is demand for high-end watches, sunglasses and accessories in China and Asia really as high as reported in the media?
Yes, consumers in Asia continue to grow in sophistication as they travel, seeking out new brands and experiences.
Apart from economic factors, what else can be attributed to this consumer growth?
Beyond the continued interest in the appreciation for luxury goods, customers are becoming more discerning and knowledgeable. Customers have evolved in this sense, and they are seeking out luxury goods, brands and experiences because they have become a part of their lifestyle. At the same time, there’s a growing demand for premium services, the likes of which we offer in the form of our in-store product experts; personal shoppers; and world facilities, such as Beauty Concierge.
What do Chinese customers look for in luxury watches?
Chinese consumers are becoming increasingly knowledgeable about luxury watch brands and trends. At present we’re seeing a strong interest in discrete complications and ladies watches. There is also a burgeoning collector movement. Watches used to be a luxury accessory bought for formal occasions. Nowadays, however, our Chinese clientele are purchasing watches to fit all aspects of their lifestyle. So whether it’s a watch for the weekend, for sports or for travel, customers now want the perfect timepiece for every occasion.
Are tastes changing, and if so how?
Among our Asian consumers, we are seeing substantial growth in ladies watches. From classic pieces to pieces with more complications, manufacturers today have placed much more focus on women’s watch designs owing to substantial market growth. Knowledge about luxury goods is rapidly maturing, particularly in the Chinese market. With tastes becoming more sophisticated as a result, there is greater awareness of a diverse range of brands. For that reason, this year’s Masters of Time collection features more than 400 masterpieces from over 40 of the leading luxury product makers.
What brought about the introduction of Haute Joaillerie to your range this year?
In recent years, we have noticed a significant rise in female spending, with women becoming increasingly financially independent. As the world’s leading travel retailer, it’s important that we respond to such shifts. At the same time, we’ve noticed an increased use of jewelry in timepieces. As such, we felt that it would make sense to incorporate our Haute Joaillerie offering into the Masters of Time collection.
