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Bloomberg
  • 4 hours ago
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00:00Cartier's become Gen Z's ultimate it watch and that's a huge shift for the luxury market.
00:07When Taylor Swift got engaged her rare golden diamond Cartier caused an online frenzy
00:14and even men are donning the delicate timepieces.
00:18Up until now however Rolex has been the favourite.
00:22Watches have been super sizing for the past decade or so and its big chunky styles fit the mould.
00:29But Cartier owned by Richemont has changed all that.
00:33After young affluent women started wearing its love bangles Cartier relaunched some of its iconic models like this.
00:41The masterstroke came in 2017 when Sofia Coppola shot the Panthers relaunch.
00:48Gen Z are choosing smaller often gold watches with a vintage feel.
00:53Cartier's market share with Gen Z has risen fourfold since 2018.
00:59Even second hand prices for Cartier are going up.
01:03But will Cartier's popularity last?
01:06Gen Z is under pressure from inflation, rising student loan repayments and a weaker jobs market.
01:13And Cartier's success hasn't gone unnoticed by rivals.
01:16Rolex released a new dress watch the 1908 two years ago.
01:22In its steel models it is experimenting with playful coloured dials and smaller sizes.
01:28Rolex's discontinued Lady Datejust has also been popping up on TikTok.
01:33It's got the same old money vibe as the Cartier Panther and Gen Z is noticing.
01:40If Cartier mania starts to wane, Richemont does have some other brands that could pick up the slack.
01:46Gégé Lecoultre has relaunched its best known style, the Reverso.
01:51Piaget has introduced the asymmetric 60.
01:55So if the Swiss company can repeat the success it has had with Cartier, Gen Z will have a lot more on its wishlist.
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