The luxury watches market has been growing steadily for the past few years. In fact, in some cases it's been growing at an exponential rate. So what exactly is the luxury watch market and why is it growing so fast?
Well, first off, let's look at the definition of a luxury watch. According to Wikipedia, a luxury watch is a watch that is more expensive than most other watches. This can be based on either the price of the watch or the rarity of the watch. There are many different types of luxury watches, but they all fall into one of two categories. They can either be mechanical watches or digital watches.
Mechanical watches have a number of moving parts, which makes them more complicated and therefore more expensive. On the other hand, digital watches are much simpler and therefore less expensive.
Because of this, most people think of a mechanical watch as a luxury watch, whereas a digital watch is considered a low-end watch. This is because mechanical watches are usually very complicated and require a lot of maintenance. In addition, the more complicated a watch is, the more expensive it tends to be.
Another reason that a mechanical watch is considered a luxury watch is because of its rarity. Because mechanical watches are so complicated, only a small number of people can make them. As a result, they tend to be more valuable than other types of watches.
The other type of luxury watch is the digital watch. These are not as rare as mechanical watches, but they do still tend to be more expensive than other types of watches. The main reason for this is that digital watches are easier to manufacture than mechanical watches. As a result, they are cheaper to make and sell.
Now that we know what a luxury watch is, we can start looking at the history of the luxury watch market. It all started with the Swiss Army watch. The Swiss Army was a group of soldiers that was established by Napoleon in 1802. At this time, the Swiss were making a lot of money from their exports of cheese and watches. They wanted to keep this industry going, so they established the Swiss Army to make sure that they could continue to export their watches.
As a result, the Swiss Army watches became very popular among the European royalty and the military. Soon after, these watches were also becoming popular in America. Since the Swiss Army watches were so popular, other companies began manufacturing watches that looked similar to them. The first company to do this was Citizen Watch Company.
Citizen Watch Company started out as a watch manufacturer, but they soon realized that they could make a lot more money if they made the watches themselves. As a result, they began to design their own watches. They also started to use Swiss movements, which were used by the Swiss Army. This allowed them to make watches that looked almost identical to the Swiss Army watches.
The next company to jump into the luxury watch market was Bulova. They began producing watches that were similar to the Citizen watches. However, they also started making their own designs.
In the end, both of these companies ended up selling a lot of their products. As a result, they were able to create a huge market for luxury watches. Nowadays, there are a lot of companies that specialize in making luxury watches. As a result, there are now thousands of different types of luxury watches available.