In 2015, China may will be the world's largest luxury goods market

The economy of mainland is increasing, and the number of wealthy people is also increasing, this create a sharp rise in demand for luxury watches and then the fight between different watchs brands has become fierce for competing for the high market rate.

According to the "Time" magazine, manufacturers Rolex watches are the most well-known brand, there is one in every five richest people want to have a Rolex watch. As "Time" magazine show, a previous global high-end consumer research, affluent consumers in emerging markets are aware of all the international brands, when talk about brand watches, 76% of most people will first think of Rolex products, at least over 22 % people will first think of a Rolex watch.

In addition, the fashion brand Valentino, Chanel and Dior watches are also step into the eyes of the public. Although they do not receive the same love for Rolex watches, the mainland market survey also shows strong potential in the past six months, more than 66% of respondents had purchased at least one man watches, and the average cost on buying watches are about 2,253 U.S. dollars each (about 1.7 million).

Compared to Chinese consumers, it is sensitive to international brands in India and Russia where become even more support local brands. In every 100 Indian respondents, only one had not heard of India's suit brand Park Avenue-the opposite of some international brands such as Marc Jacobs and Yves Saint Laurent swiss watch which were only 7%-8% of the respondents know.

As for Russia, more than 90% respondents know fashion Local watches Zaitsev and Yudashkin, and Versace (Versace), Giorgio Armani. "Time" magazine that focus on Asian culture, identity and to highlight the personal status, people who want to show their wealth and power the most effective way is to pursuit luxury brand watches.

China is now the world's 3rd largest luxury goods market after the United States and Japan. If the trend continues, China will "catch up with America" and become the world's largest luxury watch market by 2015.