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Luxury watch resale platform Chrono24 to continue "surfing" on the success of the second-hand market

Published on
14/12/2022
Amended on
25/3/2024
0
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Deloitte's Karine Szegedi predicts massive growth in the pre-owned luxury watch market, thanks to generations Y and Z. With potential sales of 35 billion Swiss francs by 2030, an increase of 75%, this market will soon represent a significant share of the overall watch sector. Key players, such as Chrono24, will contribute to its growth.
By
Damien Hélène
Damien Hélène
This article has been automatically translated. Please excuse any inaccuracies or translation errors.

"The growth potential of this market is enormous," said Karine Szegedi, head of consumer, fashion and luxury at Deloitte Switzerland, speaking to Bloomberg.

According to the latest report published by Deloitte, generations Y and Z are set to underpin the dynamism of the pre-owned luxury watch market, which will involve an ever-expanding range of brands. Driven by major players such as Chrono24, this market is set to grow by 75% by the end of the decade, eventually accounting for almost half of the overall luxury watch market. Annual sales of pre-owned watches are expected to rise from 20 billion Swiss francs today to 35 billion Swiss francs by 2030, according to a Deloitte survey of consumers and watch brand managers.

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