Swiss watch companies are facing a tough market with sales down 11% in 2016. RAYMOND WEIL is an affordable Swiss luxury watch company that is continuing to innovate themselves through this period, harkening back to the company’s DNA to look for new inspiration. RAYMOND WEIL and CEO Elie Bernheim have choices to make as they navigate this difficult slump in the Swiss watch market.
Episode 2 How the Swiss ended up as the predominant watchmakers has been the result of a series of choices and fate throughout history. However, contrary to common belief, the Swiss have not always been the dominant force in the watch industry. It has only been post-1877 that the Swiss transformed their methods and were able to compete with the rising American watch producing titans Waltham, Elgin, Hamilton, and others.
The luxury watch industry is in one of its biggest slumps in recent history after experiencing years of unprecedented wealth and growth. Is it a result of the economy? Is the industry dying overall? Will the industry fade away forever? How will companies make it through the slump? Who will emerge on the other side? Over the next two months, we will release a 15-article, three-part series devoted to the following topic:
Disruption? The future of the luxury watch industry
Buying used luxury watches is a risky venture. Selling a used luxury watch can lead to you getting fleeced by a more knowledgeable buyer. I wanted to learn more about the used watch industry so I went down to the European Watch Company in downtown Boston for a few days to see how the industry works. The used watch industry and how it works was something I never considered. My key takeaway is that relationships and trust are critical to survival. Here is what I learned.
In September, we wrote two posts on TiMe22, a Dutch startup company currently on kickstarter with a new titanium wristwatch they have designed. This article looks back at their experience including how they survived on Kickstarter, the bumps in the road, and some of the kickstarter lessons learned. These are generalizable lessons for any micro brand watch company looking to take on kickstarter.
Croft Watches is a micro brand watch Startup out of Australia. They make high-grade stainless steel dress watches at an affordable price, able to withstand the rigors of an outdoor lifestyle. We take a look at their watch and their company in this post in the micro brand watch company series.
How does a startup watch company get noticed? Have you ever wondered how social media marketing works? We take a look at both topics as we look at three startup watch companies and their efforts to break into the watch industry through marketing. We look at what works, why it works, and what doesn’t work when it comes to establishing and communicating a brand.
The story of a watch entrepreneur. How do you make a watch that isn’t like every other watch out there? There are tons of watches available on the market. There are even a lot of affordable start-up companies offering excellent watches such as TiMe22, BM&Y, and Shinola. My first question when talking to Nick was how he thought he could make something special that people don’t already have access to?
There are a lot of watch entrepreneurs and startups out there; this post is the story of one of those companies. This post will cover how these entrepreneurs design and produce watches, looking at their design processes, making prototypes, and finding producers. I will do my best to tell their story so that those interested in going into the watch business know the process, the difficulties, and the rewards of the industry. This is the story of TiMe22.
Can a new watch company really break into the market? Can a new company with no name and no reputation survive? Even if you have no interest in their watches, you have to be curious. Going head-to-head with the marketing power of some of these companies seems insane. Not to mention, their quality is second-to-none; does a micro brand watch company really think they can match this?
This is a basic overview of how to buy a luxury watch including the different types of movements, the basic brands and price ranges, different styles, and options of where to buy.
Fake watches are a huge problem in the watch industry, both for theft of patented and trademarked products, as well as making the purchase of a used watch a very difficult and discerning process. Because of the prevailing problem and my lack of expertise in this area, I asked @fakewatchalert to write a guest post. I have included some additional resources at the bottom of this post.
Are you a watch snob? Are you worried you might be? Or maybe you know one? Read our second installment on watch snobs. It keeps getting better!
There has been much debate whether smartwatches could spell the end of the Swiss watch industry. Even Tag Heuer has started producing their own smartwatch. Is it possible that smart watches will win the day? I don’t think so.
Watch straps are like the frame on a masterpiece painting: they compliment and add to the beauty. Figure out how to perfectly frame any watch in our post “Strapped!”.