How much does an average Hublot watch cost? Pricing explored as company announces 4% spike in price

LVHM's swiss luxury watchmaker brand Hublot is raising its prices. The company was founded by Italian Carlo Crocco in 1980 and was acquired by France's luxury goods group LVHM in 2008.

The label has now decided to spike prices to accommodate rising inflation prices. According to the CEO of Hublot, Ricardo Guadalupe, the rising prices of raw material costs, i.e., gold and diamonds, will result in timepieces seeing a hike in prices from 3 to 4 percent. He said:

"Almost all our suppliers are increasing prices."

He also announced that diamond suppliers had increased their prices by 10 to 15 percent, noting that even the costs of steel and titanium are rising. Costs are expected to increase by April or May.

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How much does an average Hublot watch cost?

Hublot was the first brand to introduce rubber bands on their watches. The design took three years and was developed by Carlo Crocco, founder and original CEO of the brand.

Crocco wanted to make a durable and stylish watch, thus combining rubber with gold, which became the signature look for the label. The watches are well-known for their porthole shape, the combination of polished gold with a minimalistic black dial.

Today, the brand has its headquarters in Switzerland, where watches get assembled from scratch and beautifully made into a detailed design.

The label sells its watches at an average price of $21,500 (20,000 francs).

Apart from the average pieces of the brand, the manufacturers also hold a special collection each year, out of which comes the world's most expensive watch worth a whopping five million dollars, 'The Big Bang watch.'

This watch is encrusted with one thousand two hundred and eighty-two (1,282) diamonds and was given to Jay-Z by his wife Beyonce on his 43rd birthday.

The brand has also collaborated with multiple artists to develop special editions, such as Jay-Z, Formula 1, DJ Snake, Shepard Fairey, etc.

The label also recently partnered up with the Miami Heat's Ray Allen to help with funding for diabetes research. The brand unveiled three watches in this limited edition: the Ray Allen Big Bang, the Ray Allen King Power, and the Ray Allen Classic Fusion.

The rise in prices shows us how inflation has affected even the huge luxury fashion brands.