Gen Z and Millennials in China are going all-in on luxury watches. While high-end watches in China have long been associated with “status-obsessed businessmen of a certain age,” it’s young people who are bringing back the accessory. In 2020, China imported $2.6 billion worth of Swiss watches—a 20% increase from 2019, according to the Federation of the Swiss Watch Industry. The high-status influence of the timepiece still holds true, as many young people have embraced the luxury watch after seeing their favorite celebrities across TV and film do so. But influencer Miki Lin notes that watches represent more than high-status for women; a feminist awakening in China has influenced the timepiece as representing “financial and intellectual independence, and having a refined attitude towards shopping luxury goods.” Interest in pre-owned watches is also growing as young people fuel the industry for secondhand apparel/accessories, and according to Chinese pre-owned watch platform Watcheco, total transactions on its site rose six-fold in 2020. (Vogue Business)
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