Business News: Want A (Really) Bright Spot In The General Watch Sales Slump? There's A Magical Place Where Sales Are Up 74%
According to the report, last August “$5 million alone was spent on Rolex watches” and in October, “deals of extravagance watches in the UK rose by 53.5%.” The explanation? A significant lift in purchasing power for guests, on account of the decrease in the pound authentic, driven by Brexit. Cited in the story, David Coleridge of The Watch Gallery, a significant English extravagance watch retailer, said, “The sliding authentic has implied uplifting news for extravagance retail, and we have further extensions gotten ready for 2017 and beyond.”
Luxury Daily additionally takes note of that Richemont, LVMH, and Rolex have all raised UK costs by about 10%, with deals of extravagance watches valued more than $12k up a stunning 67% in London in September, over a similar period last year.
Read the full report on Luxurydaily.com.