According to Deloittes, China is currently the world’s fifth largest luxury market, and its importance to the luxury watch market is something of which the industry is acutely aware and sensitive to, both in China and in terms of travel retail.
In light of the devaluation of the Yuan, Deutsche Bank issued some notes (and this was before the current stockmarket turmoil) about the exposure luxury brands have in terms of their reliance on the Chinese market both at home and abroad.
At the top is Swatch, with a hefty 20% of revenue from mainland China, followed by Ferragamo, Burberry and Gucci.
In adding the tourism dollar, so much the focus of many markets, the figures become even more interesting, with Swatch at 49% and Richemont at 41%.
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