It seems that Rolex is currently being given a run for its money by competitors in China, notably Omega, who are experiencing a great deal of success in the Far East. 35% of Omega’s sales are accounted for in Greater China and the brand’s image seems to be the leading cause of this success.
Chinese buyers prefer the sleek modern stylings of Omega watches
Chinese watch buyers seems to be more attracted to Omega’s image which is perceived to be trendier and modern when compared to Rolex which is often regarded as too traditional and old fashioned by the vast majority of the Chinese watch buying public. This comes as quite surprising news as in other countries Rolex is undoubtedly the dominant brand when it comes to luxury watches, but in China that doesn’t seem to be the case. Omega watches are extremely popular with the younger generation in China, and it’s arguable that this is a direct result of effective marketing creating a specific brand image.
However, many are also relating this change in fortunes for Rolex to the global recession. With Omega’s entry level watch costing 60% less than Rolex’s cheapest model then its little wander that they’re able to gain market share over Rolex in these times of financial crisis. However, in China it certainly seems that Omega watches are regarded as cool and more desirable by the younger generation, irrespective of their price. With opinions such as “I won’t wear Rolex, that’s a brand for my dad†being expressed by young Chinese people such as 23 year old student Dani Wen it’s a quite a clear indication of which brand is more highly favoured in the Far East.