How Time Is Running Out For Swiss Watchmakers

[JMAC]

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https://www.ozy.com/fast-forward/how...c1fc106f66bb56


"...weakness of Swiss watchmaking: Its heavy reliance on a distribution model of selling via third-party retailers and bricks-and-mortar stores. Some 90 percent of Swiss watch sales by value are still made via third-party retailers, according to Morgan Stanley — much higher than in other luxury sectors such as jewelery and leather goods, where the equivalent figures are roughly 30 percent and 40 percent."

"The traditional view among watchmakers has been that their products are too expensive, and purchases too emotional, to be transacted online. Some high-end brands — including Rolex — believe that remains the case. That view is changing. The latest brand to dip into e-commerce is 143-year-old Audemars Piguet, which in April announced an online boutique in partnership with China’s JD.com."




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[Cohibaman]

Uggggggg!

[DonBattles]

IMHO AP hasn’t been relevant for years and you’d be hard pressed to even find a local AD. Plus it’s a brand that’s pretty easy to get a substantial discount on. As for Rolex I don’t expect they will ever change.

[PHC1]

US sales of luxury watches has been in decline year after year. We are no longer the largest market having been eclipsed by Hong Kong and followed closely by China. I doubt it has anything to do with retail model and I certainly do not see how a model of an online purchase of a very expensive timepiece would work out very well, exception being a prior boutique exposure to a particular piece and shopping online for it to find a better price.

IMHO, the decline in our market it has everything to do with distribution of wealth and disposable income. After the Baby Boomers and Gen X are done buying their Rolexes, PP, AP, Breguet, etc, I’m not so sure the Millennials will embrace the concept of wearing a watch that commands a price of a yearly salary when the average family is $10k+ in debt and 65% of the US population does not have $1k in savings.

[radio times]

I have been tempted by Vachers, but not enough. I praise the engineering and years long training and craft, and my fave's do remind me of a 1. Bentley 2. '59 Cadillac, but the original movement and hand beveling of my C.Ward dress will do. There will always be a market, but peeps will look around the £5k mark more I feel.

[joey_v]

Originally Posted by DonBattles

IMHO AP hasn’t been relevant for years and you’d be hard pressed to even find a local AD. Plus it’s a brand that’s pretty easy to get a substantial discount on. As for Rolex I don’t expect they will ever change.

NOt sure if I can agree, we have a local AP dealer and it has been relevant moreso this decade than others. It's been on the wrist of many celebrities and athletes who do not want to sport the common Rolex, mirroring the typical high end buyer who is looking for sport rather than the subdued style of Rolex.

Another brand that has picked up is Richard Mille.

I believe Panerai is on the downslope.

[DonBattles]

Originally Posted by joey_v

NOt sure if I can agree, we have a local AP dealer and it has been relevant moreso this decade than others. It's been on the wrist of many celebrities and athletes who do not want to sport the common Rolex, mirroring the typical high end buyer who is looking for sport rather than the subdued style of Rolex.

Another brand that has picked up is Richard Mille.

I believe Panerai is on the downslope.

Never cared what athletes or celebrities wear and never will. As for Panerai you have people who wanted one when it was trendy and now it's not, simple as that.

[PHC1]

Originally Posted by joey_v

NOt sure if I can agree, we have a local AP dealer and it has been relevant moreso this decade than others. It's been on the wrist of many celebrities and athletes who do not want to sport the common Rolex, mirroring the typical high end buyer who is looking for sport rather than the subdued style of Rolex.

Another brand that has picked up is Richard Mille.

I believe Panerai is on the downslope.

Athletes and Celebrities are often handed the watches by the watch makers. Whether they actually have any loyalty or affinity for the brand is a different story. But hey, if Rafael Nadal and Alexander Zverev are Richard Mille "Ambassadors" it must be the watch brand to own!!! I'm being sarcastic obviously.

[radio times]

Good for a spot of tennis apparently, they've got titanium springs cradling the movement..oooh.

[Family Progtitioner]

Originally Posted by DonBattles

IMHO AP hasn’t been relevant for years and you’d be hard pressed to even find a local AD. Plus it’s a brand that’s pretty easy to get a substantial discount on. As for Rolex I don’t expect they will ever change.

I couldn't disagree more. At least you said "IMHO".