(jingdaily.com) - The sparkle has returned to hard luxury in China. According to Bain, jewelry and high-end watch spending has increased by about 35 percent and 30 percent, respectively in 2021. Growth obviously varies across brands, but Swiss watch exports reported strong growth in 2021 (48.8 percent over 2019). It is this market momentum that reflects changing dynamics within the hard luxury category: its transformation is disrupting traditional brand-consumer relationships. Clearly, this is a wake-up call for jewelry and watch companies to align best practice with a market reality in rapid flux.
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