Vietnam Watch Market

Vietnam Watch Market Overview:

The Vietnam watch market size reached USD 390.00 Million in 2024. The market is projected to reach USD 573.63 Million by ​2033​, exhibiting a growth rate (CAGR) of 3.97% during ​2025-2033​. The market is growing steadily, propelled by an increasing demand for both luxury watches and budget-friendly timepieces. Consumers are diversifying their preferences, and smartwatches are becoming popular in addition to classical mechanical and quartz watches. The market for watches through retail outlets is increasing, with a growing proportion of sales from online sources. Regional differences in demand are influenced by cultural and economic considerations. With brands innovating and keeping up with evolving preferences, the future of the industry looks bright, which adds to the Vietnam watch market share.

Vietnam Watch Market Trends:

Digital Transformation in Watch Retail

In December 2024, Vietnam’s Ministry of Industry and Trade reported that the national e‑commerce sector surpassed billions in annual sales, underscoring the rapid adoption of online channels. This surge is transforming luxury segments, including watches, which are increasingly sold through immersive online storefronts. Virtual try‑on features, AI-generated style guides, and blockchain‑based authentication tools replicate in-store interactions, enabling confident purchases from anywhere. Live‑streamed collection reveals, and interactive product showcases deepen consumer engagement and foster emotional connection to craftsmanship. To support this, retailers are investing in secure payment systems, responsive mobile platforms, and real‑time inventory updates. These developments are expanding reach to younger, digitally native buyers while maintaining trust with traditional collectors. The fusion of heritage horology with seamless digital platforms is reshaping consumer discovery and purchase behavior. This strategic digital integration is accelerating Vietnam watch market growth, as brands that harmonize authenticity, convenience, and technology stand to lead in this rapidly evolving landscape.

Rise in Certified Pre-Owned Watch Interest

In August 2024, luxury analysts and retailers observed a marked increase in demand for certified pre-owned watches in Vietnam, aligned with broader consumer trends toward conscious luxury consumption. Buyers now place higher value on authenticity, traceable ownership, and the emotional history attached to timepieces. Certified pre-owned models accompanied by verified provenance, detailed service records, and independent inspection are increasingly seen as meaningful alternatives to new watches. This movement appeals to those seeking vintage aesthetics, mechanical heritage, and narrative depth, while also supporting sustainability through extended product lifecycles. Curated resale platforms in Vietnam are becoming more sophisticated, offering transparent pricing, condition grading, and customer support comparable to primary luxury retailers. The growing popularity of heritage-rich acquisitions reflects a shift in how collectors perceive value focusing on rarity, origin, and storytelling over novelty. These shifts in buyer preference are redefining what constitutes luxury and permanence in ownership. In doing so, they are helping shape Vietnam watch market trends, as provenance, ethical sourcing, and legacy emerge as critical purchase drivers for discerning watch buyers.

Momentum of Independent Craftsmanship

Vietnam’s growing appreciation for artisanal horology was highlighted by the country’s hosting of the GPHG 2024 Exhibition in Ho Chi Minh City, held in collaboration with the prestigious Grand Prix d’Horlogerie de Genève. The event marked a significant cultural moment, celebrating independent watchmakers and showcasing craftsmanship to an expanding audience of Vietnamese collectors. Microbrands and independent artisans presented limited-edition models, often featuring hand-finished components, traditional decoration techniques, and locally inspired design elements that reflect Southeast Asian heritage. Collectors increasingly value timepieces that offer narrative depth and visible craftsmanship, moving beyond mass-produced luxury. Many buyers now engage directly with makers, selecting finishes, dials, and engravings that carry personal or cultural significance. This emphasis on customization fosters emotional investment and long-term loyalty. Social platforms and collector communities further amplify these narratives, allowing enthusiasts to share the meaning behind their acquisitions. With elevated visibility through events like GPHG, these bespoke creations are shaping the market, emphasizing that cultural identity, individual storytelling, and handmade artistry are essential forces in defining modern luxury preferences.

Vietnam Watch Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on type, price range, distribution channel, and end user.

Type Insights:

• Quartz
• Mechanical

The report has provided a detailed breakup and analysis of the market based on the type. This includes quartz and mechanical.

Price Range Insights:

• Low-Range
• Mid-Range
• Luxury

A detailed breakup and analysis of the market based on the price range have also been provided in the report. This includes low-range, mid-range, and luxury.

Distribution Channel Insights:

• Online Retail Stores
• Offline Retail Stores

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes online retail stores and offline retail stores.

End User Insights:

• Men
• Women
• Unisex

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes men, women, and unisex.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Watch Market News:

• April 2025: Hublot has launched the Classic Fusion Titanium Vietnam Limited Edition to celebrate Vietnam’s independence and heritage. The watch features a 42mm satin-finished and polished titanium case with a vibrant red lacquered dial inspired by the Vietnamese flag. A gold star at the center symbolizes the nation’s founding ideals. Powered by the MHUB1110 self-winding movement, the timepiece offers a 48-hour power reserve and comes with a black rubber strap, honoring Vietnam’s journey toward sovereignty.
• October 2024: Vietnam was privileged to host the Grand Prix d'Horlogerie de Genève (GPHG) 2024 Exhibition as a first-time event in the country. Convened by The Hour Glass, the exhibition was held at the legendary Ho Chi Minh City Opera House, with 90 shortlisted timepieces being presented in 15 categories. The event brought Vietnam's rising profile within the international watchmaking fraternity to the forefront and highlighted its potential as a hub for innovation and horology craftsmanship.

Vietnam Watch Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam watch market performed so far and how will it perform in the coming years?
• What is the breakup of the Vietnam watch market on the basis of type?
• What is the breakup of the Vietnam watch market on the basis of price range?
• What is the breakup of the Vietnam watch market on the basis of distribution channel?
• What is the breakup of the Vietnam watch market on the basis of end user?
• What is the breakup of the Vietnam watch market on the basis of the region?
• What are the various stages in the value chain of the Vietnam watch market? 
• What are the key driving factors and challenges in the Vietnam watch market?
• What is the structure of the Vietnam watch market and who are the key players?
• What is the degree of competition in the Vietnam watch market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam watch market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam watch market.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam watch industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.