Luxury watch industry is completely dominated by Switzerland which contributes almost 100 percent of market value. The major exports market includes United States, France, Germany, Italy & United Kingdom. Rolex dominates the luxury watch market followed by Tag Heuer, Omega, Cartier, Bulgari & Longi Brand Strategies Today , seven out of ten people throughout the world are familiar with the OMEGA watch brand. Most luxury brands will integrate themselves with some projects or activities to set up their continual image
PRODUCT LINE Other than watches Omega has other products like, Jewellery, Leather Goods & Fragrance.
First watch on the moon
The Omega Speedmaster, or moonwatch selected by NASA
for all the Apollo missions.
The Omega Speedmaster Professional Chronograph was the first watch on the Moon, worn by buzz aldrin Although Apollo 11 commander Neil Armstrong was first to set foot on the moon, he left his 105.012 Speedmaster inside the Lunar Module as a backup because the LMs electronic timer had malfunctioned. Buzz Aldrin elected to wear his and so his Speedmaster became the first watch to be worn on the moon. Armstrongs watch is now displayed at the National Air and Space Museum in Washington, D.C. Aldrins is lost.
He mentions in his book, Return to Earth, that when donating several items to the Smithsonian Institution, his Omega was one of the few things that was stolen from his personal effects. In 2007, to mark the 50th anniversary of the Omega Speedmaster Professional Chronograph, the Omega company unveiled the commemorative Speedmaster Professional Chronograph Moonwatch. The watch had the distinctive features of the first hand-winding Omega Speedmaster introduced in 1957. It was sold in an edition of 5,957 Omega in Olympic
. Omega has been responsible for the timekeeping of the worlds most prestigious sporting events, including 25 Olympic Games, and also for the development of the equipment which has ensured that the technology has kept pace with ever-better performances.
Omega is active in a lot of different domain with its ambassadors. Overall 7 different domains for 14 celebrities. It shows that omega is trying to reach every segment without being involved in one. Among the attributes territories are well defined such as, show business for beauty, surf & sailing for hedonism, motor sports and swimming for victory. Golf is used for both for the hedonistic and the victory attributes. This coherence can may be help the customer to understand the communication better. The majority of the advertisements picture male young adults. This shows that Omega really tries to increase recognition on this segment. Therefore communication is aimed at youth. One is a star today and tomorrow is forgotten. Brand is phenomenon that should find its roots in duration, which is pretty much the opposite of fashion. Therefore, omega rightly chooses to use multiple endorsement in order to avoid dependence on the ambassadors and diversify its risk of a bad celebrity away. Pricing Strategy