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Situation Analysis Market The watch market is a highly established industry Watches are positioned by style in the various niche markets causal sporty formal semi-formal and jewelry Faleiro The importance of watches as style and fashion has led to the brand of watches being an important attribute of the watch Faleiro Many watch companies capitalize on most of all the different niche markets For example the Swatch Group which is a major player in all market segments with gross sales in 2002 at 4 billion Swiss francs swatchgroupcom They have 14 different watch brands that each position themselves on different fashion and price segments of the market wwwswatchcom However Swatch Group has seen a decrease in profits in 2003 reflecting the slowing of growth in mature watch markets Xinhua Furthermore most watches sold in Australia are imported and imports from Swiss watch makers have declined in Australia by 114 in recent years wwwfhsch Company However Australian surf companies who produce sporty and casual watches such as Billabong and Ripcurl have seen tremendous growth The surf industry is a 10 billion industry Kotdin Billabong which is Australias leading surf wear company saw a 9 increase in sales in Australia totaling near 170 million in 2003 Moreover Billabong operates globally with 30000 stores selling Billabong products SALES 2003 millions Australia 1691 Americas 3028 Europe 1510 Billabongs world market saw an even greater growth of 24 in sales wwwbillabongcorporatecom Their products include women and mens clothing swimwear bags and backpacks hats and toboggans gloves and boots wetsuits surf and body board covers belts and not to forget watches They continue to expand their brand image with promotional events They sponsor surfing and snowboarding events worldwide and also sponsor some of the athletes Billabong has also created the film Blue Crush which features a female pro surfer to attract the female segment of the market Consumer Billabong is perceived as youthful cool fun and
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