Hublot wants to grow, and the primary driver for that shall be young customers from China. To reach this type of customer, the company plans to invest heavily in social media marketing and also to hold events. The watch brand’s target for 2019 is a turnover growth of 8 to 9 percent.
Currently, Hublot generates 20 percent of its turnover by selling watches to Chinese customers; 13 percent with sales inside the Greater China region (Mainland China, Hong Kong, Macau and Taiwan) and 7 percent with sales to Chinese tourists abroad.
During Hublot’s 10-year-presence in the Chinese market, the watch brand constantly experienced steady growth, that is until now; in the first two months of this year, sales started to stagnate. But according to Hublot’s CEO, Ricardo Guadalupe, the situation can change again quickly.
Hublot sells expensive watches at a price range of CHF 10,000 to CHF 30,000. Other important markets of the brand are Europe, Japan and the US. Hublot’s success in the European market also depends on the number of Chinese tourists visiting the old continent.
Further reading
In-depth article about the subject / Volksblatt (in German)
