Growth in Luxury Watches and Jewelry Demand in the Philippines

Introduction

The market for luxury watches and jewelry in the Philippines is poised to become a value-driven growth market instead of a sales-driven market. International brands for watches and luxury jewelry view the Philippines as a market for building brands over the long term due to the increase in high-net-worth individuals.

Watch manufacturers are making significant investments in storytelling around movement innovation and durability, with mechanical timepieces remaining central. Meanwhile entry-level luxury models are being refined to attract younger buyers. Swiss watchmakers are channeling more resources into Asia-Pacific–focused automatic mid-range collections. For instance, Swiss company Tissot launched the Tissot PRX that combines modern Swiss engineering, in an integrated bracelet design, suitable for tropical climates of the Philippines, in July 2025.

Jewelry companies also follow similar trends. The ranges of fine jewelry pieces are now complemented with modular designs, offering customers an opportunity to layer and customize jewelry pieces in the future. The idea promotes frequent sales while keeping the product exclusive. Jewelry companies from Europe are also introducing modular ranges in the Philippines, keeping up with the latest trends in versatility and everyday luxury across the world.

The retail strategy is rather selective, as brands ted to focus their investments in high-profile sites in shopping malls and private salons rather than in extensive development. Upgrading their shops, watch lounges, and secure display points have become central focus areas.

Discipline in pricing is of high significance. Brands are handling price changes in such a manner as to incorporate exchange rate changes and increased costs. Small manufacturing quantities and region-specific models have been used as tools to support premium pricing. The strategy ensures maintaining profitable pricing and emphasizing brand desirability.

Distribution partnerships have become essential for the implementation phase. High-end watch and jewelry brands are working to improve ties with authorized dealer groups that offer guaranteed levels of service quality. Staff training and investments in high-quality after-sales support are no longer treated as secondary considerations to be balanced against marketing and publicity spending. They are becoming the core component of brand strategy.

The market for luxury watches and jewelry in the Philippines is starting to transform into a more structured and experience-oriented category. A balanced approach by the brands offering authenticity in products, managed geographics, and service excellence will help build equity.

Check out the full Philippines Luxury Goods Market Report for comprehensive segmentation, forecasts, and competitive insights.

Major Trends, Drivers and Challenges

A key driving factor in shaping companies' strategies has been the steady rise of high-net-worth and upper-middle-income consumers who have long-term purchasing intent. In the current market scenario, luxury timepiece ownership is increasingly perceived as an investment and a status symbol rather than a one-time purchase. Such a mindset cultivates repeat buying and brand loyalty.

Product innovation is becoming increasingly incremental, favoring refined enhancements over radical redesigns. In watches, companies focus on power reserve, material finishes, and/or movement reliability. For jewelry, brands are investing in ethically sourced materials and certified gemstones to strengthen credibility. These improvements support a premium price model while responding to evolving buyer expectations.

Brands are also using digital platforms for education, appointments, and after-sales engagement, but not for direct purchasing. Luxury watchmakers are interested in digital tools that help in-store engagement, maintaining exclusivity and service quality.

Market challenges continue to center on supply constraints and rising cost pressures, driven by limitations in manufacturing capacity, shortages of skilled manpower, and elevated material prices. Additional cost burdens stem from regulatory compliance, import procedures, and the financial commitments associated with meeting sustainability pledges.

Despite such limitations, however, the future looks bright for those who practice discipline. Brands which spend in product integrity, legitimate distribution, and building long-term customer ties are poised to capture greater footprint in the growing luxury watch and jewelry market of the Philippines.

Table of Contents

1. Introduction
2. Definition and Scope
3. Luxury Watch Product Segmentation
4. Fine Jewelry Design and Material Trends
5. Retail and Authorized Dealer Strategy
6. Pricing and Value Retention
7. After-Sales Service and Client Experience
8. Digital Enablement and Brand Education
9. Operational Challenges and Risks
10. Outlook and Strategic Opportunities

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