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Swiss luxury watchmaker IWC is now rolling out its watch ranges in Polo Limited boutiques in Nigeria.
In a statement issued in Lagos, Nigeria, IWC said the partnership with Polo Limited aims to bring the Swiss manufacturer to a growing watch market in the country.
Polo Limited is the leading luxury goods company in West Africa. It is the exclusive agent for over 13 of the world’s most prestigious watch and leather goods brands such as Rolex, Breguet, Cartier, Chopard and Roger Dubuis. This strategic decision will not only satisfy but also confirm the growing appeal of luxury watch lovers in Nigeria.
Jennifer Obayuwana, Executive Director of Polo Limited, commended IWC for its progressive vision and said, “Although not many people are aware of it, IWC has been consistently creating women’s watch designs since the late 1870s, including one of my favorites, the Da Vinci Lady chronograph. The IWC brand is a promise of durability, reliability and value for money, as it appreciates over time. The dual time function is popular with travelers, as it allows them to read the time in a different time zone.(…) The brand is also dynamic in its ability to meet the needs of its fans in the aviation industry who have a truly sporty, active and fast-paced lifestyle, while also serving a distinctly conservative demographic.”
Opportunities
The strategic partnership between Polo and IWC is expected to consolidate the loyalty enjoyed by the Swiss luxury watch brand in Africa. With IWC’s entry into the Nigerian market, watch collectors will have access to the heritage of 154 years of watch innovation including products such as the Portugieser, Pilot Watch and Da Vinci.
While asserting that there is a huge market for the brand, Mrs. Obayuwana noted that the partnership between Polo and IWC is a long-term support to the international brand and its customers in Nigeria, explaining that “We are proud to have the exclusive privilege of introducing Nigerians to an exceptional brand that has been delighting watch lovers for generations.”
There are few figures for watchmaking in Nigeria, but in 2019, it was estimated that about 3% of Swiss watches sold in Nigeria were luxury watches. With nearly 700 high-end watches sold each year, the Nigerian market posted a healthy 35% growth between 2016 and 2018.
A 2015 KPMG study further points out that a large portion of the super premium watches worn by Nigerians are purchased outside the country. According to the same study, Nigerians account for nearly half of the luxury goods sold to Africans in London. An opportunity to be seized, therefore, for watch brands from all countries that can establish themselves in Nigeria so that customers who love luxury timepieces can buy locally.
Read also > IWC PRESENTS ITS LATEST TIMEPIECES
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Swiss luxury watchmaker IWC is now rolling out its watch ranges in Polo Limited boutiques in Nigeria.
In a statement issued in Lagos, Nigeria, IWC said the partnership with Polo Limited aims to bring the Swiss manufacturer to a growing watch market in the country.
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Swiss luxury watchmaker IWC is now rolling out its watch ranges in Polo Limited boutiques in Nigeria.
In a statement issued in Lagos, Nigeria, IWC said the partnership with Polo Limited aims to bring the Swiss manufacturer to a growing watch market in the country.
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