LONDON--(EON: Enhanced Online News)--Technavio has announced the top five leading vendors in their recent global cufflinks market report. This research report also lists 11 other prominent vendors that are expected to impact the market during the forecast period.
“The influx of private labels into the market is on the rise. Therefore, to survive in this intensely competitive environment, it is imperative for vendors to distinguish their product and service offerings through a clear and unique value proposition”
The rapid growth in this market is because of changing consumer tastes and preferences and the globalization of many national players. The high purchasing power of people in developing countries and the growing hybrid consumption behavior, wherein consumers purchase premium as well as reasonably priced products, have proven to be important factors in driving the sales of cufflinks.
Competitive vendor landscape
The global cufflinks market is highly fragmented with the presence of multiple competitors. The market is expected to experience a sizable rise in production capacity during the forecast period as competitors are focusing on expanding their presence in traditionally low penetrated markets. Intense competition, rapid advances in technology, and frequent changes in consumer preferences constitute significant risks for vendors in the market.
“The influx of private labels into the market is on the rise. Therefore, to survive in this intensely competitive environment, it is imperative for vendors to distinguish their product and service offerings through a clear and unique value proposition,” says Brijesh Kumar Choubey, a lead retail goods and services research analyst from Technavio.
Market competitors compete on different factors including price, quality, and brand. Different companies indulge in different strategies to increase their market share. The acquisition of new brands will provide an opportunity to the leading competitors to maintain their dominance in the market during the forecast period. The practice of sustainability is essential for future production and is well-applied by active competitors in the market.
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Top five cufflinks market vendors
Cartier designs products like jewelry, clocks, lighters, writing instruments, wedding bands, fragrances, and cufflinks. It markets its products through retail stores as well as through its online portals across APAC, Europe, the Americas, and ROW. Cartier offers a wide range of cufflinks in two categories - gold and sterling silver. These are available to customers through e-commerce and retail shopping channels. The company's services include aftersales services, warranties, and sizing guides.
Louis Vuitton, commonly known as Louis Vuitton or LV, is a company that undertakes the design and retail of fashion and leather goods for men and women. Some of its offerings include handbags, travel products, fashion jewelry, wallets and small leather goods, sunglasses, books and pens, shoes, and watches. Louis Vuitton has an established presence in general retail goods and services. It is one of the world's leading international fashion houses and sells its products through standalone boutiques, lease departments in high-end department stores, and online.
Montblanc designs and manufactures a wide range of executive pens, watches, leather goods, jewelry, eyewear, and fragrances for men and women. It offers more than 51 different types of cufflinks that are made up of various materials including ceramic, leather, platinum, silver, and stainless steel.
Paul Smith designs clothing, footwear, and accessories under the brand Paul Smith. The company offers clothing, accessories, and shoes for men, women, and children across Europe, the Middle East, North America, and APAC. The company also offers products like books, cushions, and stationery under the Paul Smith brand through retail stores and online portals.
Tiffany & Co.
Tiffany & Co. undertakes the design, manufacture, and retailing of jewelry worldwide. Some of its offerings include wedding bands for men and women, engagement rings, necklaces and pendants, bracelets, earrings, and charms. It operates in more than 290 stores worldwide. Tiffany has an established presence in the general retail goods and services sector with its range of offerings such as engagement products, jewelry, accessories, and watches.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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