Soon, you won’t even need to leave your couch to order a $120,000 watch.
This week, Swiss watch brand IWC Schaffhausen will test out whether its sales will get a surge if their pricey watches are available online, selling watches that cost up to $121,000 on Yoox Net-a-Porter Group SpA’s websites.
“IWC is the first watch brand that is going to bring the hard luxury category to the next level,” explained Federico Marchetti, the chief executive officer of the online luxury retailer, in a phone interview with Bloomberg.
While these offerings may certainly be the priciest available online to date, other luxury brands have been exploring the e-commerce route recently. A Deloitte survey in September showed that, for the first time, Swiss watch executives plan to concentrate more marketing effort on e-commerce rather than actual stores. To wit: Hermes has already begun selling $25,000 pieces on its website and LVMH has hired an executive from Apple Inc. to lead its foray into digital sales.
Even though buyers typically want to try on products before purchasing them, Marchetti is hopeful this will boost sales and increase revenue, explaining, “Watchmakers are becoming more open to the idea of e-commerce.” [Bloomberg]