International shoppers are propelling growth in Hong Kong’s luxury watch and jewellery market in 2025, with record sales volumes and a distinctly cosmopolitan clientele. Analysts attribute this success to buyers from Mainland China, Southeast Asia, Europe and the Middle East, who frequent Hong Kong’s boutiques and expos, cementing the city as a central destination for luxury purchases.
More than 80,000 overseas buyers attended twin jewellery shows in March, where the majority sought rare timepieces, precious stones and fashion-leaning jewellery. According to event organisers interviewed by Solitaire magazine, “Mainland Chinese and Hong Kong luxury buyers increasingly see fine watches and jewellery as ways to mark personal milestones and express individuality”. Research by MDRi shows that over half of Mainland Chinese luxury consumers, along with nearly half in Hong Kong, expect to increase spending on such products this year.
Industry experts agree that evolving consumer preferences are the chief force behind the current boom. Younger buyers, particularly Millennials and Gen Z, value digital authentication, sustainable sourcing and tailored retail experiences. Retailers and brands are responding with innovative inventory combining blockchain-backed provenance and environmentally conscious collections.
The influence of family offices is apparent in their investment strategies, which continue to shape market trends alongside vibrant consumer demand. “This year, we’re allocating roughly a third of our portfolio to the physical gold trade, going a step beyond index trackers and vault holdings,” said a Cavendish Investment Corp. spokesperson, speaking to Bloomberg.
Investment managers emphasise expertise and long-term value. “Deep expertise and industry connections are essential due to the market’s complexity, giving knowledgeable investors a significant advantage. Our current strategy focuses on acquiring pieces with strong fundamentals rather than chasing short-term market trends,” remarked a manager in the Q1 2025 ‘Luxury Watches As An Asset Class’ report published on LinkedIn.
Hong Kong’s status is further strengthened by government efforts to attract family offices, though the surge remains distinctly consumer driven. Alpha Lau, Director-General at InvestHK, commented in Hugill & Ip’s 2025 outlook, “Hong Kong may see a 43% increase in family offices in 2025 … providing distinct advantages that continue to attract ultra-high-net-worth families”.
Armora Group, a private family office operating in Hong Kong and New York, reports that its clients are increasingly focused on building legacy and diversifying portfolios. “Throughout this year, we have seen clients prioritise limited-edition watches and bespoke jewellery not only as status pieces but as vehicles for generational wealth preservation,” said a spokesperson for Armora Group. “For our family office, positioning in luxury watches is a tactical move. These assets offer diversification across economic cycles and align with the passion-driven focus of our next-gen clients”.
Demand from younger and international buyers continues to rise. With family offices refining investment approaches and global consumers driving the market, Hong Kong’s luxury watch and jewellery sector looks set to maintain its momentum in the years ahead.
