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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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Relevant Reports

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,

ICT | Nov, 2016

Increasing number of smartphone users, changing lifestyles and rising consumer spending on consumer electronics is driving the smartwatch market by 2021

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