The Omega brand founded in 1848 now part of the Swatch Group, and one of the world’s leading luxury watch manufacturers has opened its fourth store in Kuala Lumpur, Malaysia, giving the luxury Swiss brand a greater footprint in Asia. The brand which is synonymous with excellence, innovation, and precision craftsmanship took inspiration from earthly elements of air, water, sunlight to create a natural look for their new boutique, located on the first floor of the main mall in the heart of Kuala Lumpur.
President and CEO of Omega, Raynald Aeschlimann, remarked that the store was needed to cater to growing demand for its timepieces, saying:
“We are delighted to further extend the boundaries of our retail experience in Malaysia, and are confident that now is an ideal time to open a new boutique in the heart of Kuala Lumpur.” and “With this boutique, we look forward to sharing our full range of products with our customers in this house of Omega”
The Omega Seamaster Collection is one of Omega’s most popular.
It’s interesting to see the brand increase its footprint further into Asia at a time of mixed opinions about the stability of the market. In a previous post “Swiss imports to China falls behind the UK” it was suggested that the market was taking a big hit due to a fall in demand from China, but taking up the slack was the small island nation of the UK.
However, if the research firm, Research Nester is correct in its recent report the global luxury watch market has experienced rapid growth. Indeed, in its latest report it highlighted the emergence of “new players” saying the luxury market is set to become a new revenue collector by 2021. It goes on to say China currenty holds the top position (50.33%) in producing luxury watches, closely followed by Switzerland, North America, and Europe with a combined global market share of 40,4%.
Nothing is certain and only time can tell what the future holds. Even the experts can only make the best possible guesses with the information at hand, and their skills in reading the market. Hopefully, the market that has experienced some bumps in the road lately will fully recover. This will be good for everyone because our well-known and much-loved names in horology will recover and can continue to building beautiful timepieces.
For more information about where to look for your favorite watch brand why not read my watch store reviews to get a better idea where to look?
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