How Will Luis Vuitton Redefine the Smartwatch Market?
Louis
Vuitton’s entry into the global smartwatch market promises some discomfort for
competitors well entrenched in the high end segment of the same.
The smartwatch
industry, which has already seen an endless cycle of ups and downs, will soon
turn on its head with the introduction of Luis Vuitton entry into the
smartwatch market. Joining the ranks of Apple, Samsung, Pebble, Garmin etc.,
the fashion label will only add more spice to an industry already burgeoning
with cut-throat competition. TechSci provides you with the latest:
Smartwatch Market: One of the Most Competitive
Globally
In many ways,
the smartwatch market is designed to be a consumer paradise but a producer’s
nightmare. At one end of the spectrum, companies like Mobvoi have launched a
product worth $99. On the other hand, there are companies like Louis Vuitton,
whose premium smartwatch starts at $2450. The only similarity between the
Chinese Mobovoi’s Kickstarter funded product and the France based luxury brand
Louis Vuitton’s offering, is the platform: Android. TechSci Research report “Global Smartwatch Market, Competition
Forecast and Opportunities, 2012-2021” describes the various functions that
a smartwatch may be expected to fulfil: from smartwatches dedicated to personal
assistance, to ones dedicated to wellness, medical/health, sports. There are
niches within the niche smartwatch industry, which makes it so appealing to companies.
It is surprising
that a product which came in (and still does) for heavy criticism has attracted
so much interest and investment. Given factors such as the ability to find
specific niches to fill, the growing trend of interconnectivity of devices and
rise in number of smartphones, however, encourages more and more companies to enter
the smartwatch market.
To request the sample report, please visit: https://www.techsciresearch.com/report/global-smartwatch-market-by-type-classic-standalone-and-extension-by-application-personal-assistance-wellness-medical-health-etc-by-operating-system-watch-os-android-tizen-rtos-etc-competition-forecast-and-opportunities/826.html
Luis Vuitton: A Profile and How it Can Change the
Market
Luis Vuitton
joins Hugo Boss as the other luxury fashion label in the smartwatch market,
particularly of high-end smartwatches. However, Hugo Boss’ revenue of around
$3.2 billion is blown out of the water by Luis Vuitton, which has revenues of
around $ 10 billion. Moreover, Hugo Boss owns only around 1100 retail outlets
worldwide, compared to the 3700 or so owned by Luis Vuitton. Simply put, among high
end luxury brands, Luis Vuitton has the necessary liquidity and the worldwide
presence required to carve a specific niche for itself in the global smartwatch
market, a position hitherto occupied by Hugo Boss alone.
It is too early
to say whether Hugo Boss can impact the smartwatch market in the long term, but
the product has been earning good reviews (which is already surprising for a
product as heavily criticised as smartwatches). Doubtless, the decision for
Luis Vuitton to enter the smartwatch market definitely has some grounding in
Hugo Boss’ success in the same. It stands to reason therefore, that the market
for high-end smartwatches will see some major turbulence as Hugo Boss and other
such brands are forced to realign their strategies in order to deal with an
unwelcome competitor.
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