Informal events like Geneva Watch Days and quick response on social media platforms are helping independent watch brands adapt and grow during the pandemic.
As the luxury industry faces a rough year, the watch market appears to be showing remarkable resilience. There has been a surge in demand led by the younger generation, and auctions in particular. Sotheby’s and Philips are some of the auction houses that have had cross-class sales, presenting watches alongside jewelery and contemporary art. Or paired with sneakers.
And then there’s the traction around digital and physical versions of watch events like Watches & Wonders in April and the most recent Geneva Watch Days.
The latter, a format that is not controlled by a federation and not your typical watch fair. Set in hotels and boutiques across the city, it ran from August 30 to September 3 and was attended by a number of independent watchmakers, along with such as Bulgari to name a few; Eventually, Bulgari’s CEO, Jean-Christophe Babin, was responsible for conceptualizing the event and announced its return the following year.
Informal events get traction
“Everyone was smiling so it’s a good sign that business is top-notch,” said Edouard Meulen, CEO of H. Moser & Cie. The Hindu Weekend on a video call. “Given the highest prices at auction, that too reflects a very healthy market. If brands are doing well, they have the time and money to focus on more creativity.”
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Meanwhile, US-based wristwatch enthusiast, Stephen Fosquet, who is also the founder of the website Grill Watch, believes “the grassroots resonates with the people who follow them at home”.
A historian and author, Fawcett hopes the format will work across the board. “Independents need an outlet and I could see it as a model for big watch shows and luxury groups. Today’s buyers are hungry for credibility and connection, not another slow corporate production,” he shares over email.
That said, Geneva Watch Days PR could have upped its social media game – through the event, there was just one post on the official Instagram page.
work year round
What about the criticism that this time there were no serious developments or new ideas in Geneva? “I’m not sure the companies really knew what to expect from the Geneva Watch Days … but today’s watch industry isn’t so focused on spring releases, thanks to 24/7 social media coverage and direct sales Thanks. Instead of offering year clocks in Basel, they can stretch things out and get some real buzz.
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That’s exactly what H Moser & Cie and Bulgari did, not to mention Kazapek and Grebel Forsey. He showed off some really interesting and important pieces. And then there was Breitling’s Rainbow Classic Car Collection and the Parmigiani Tonda PF. I would say it was a really interesting incident!”
taking it to the clubhouse
Independent watch brands that are already using digital platforms and a direct-to-customer approach can benefit from the exposure that such events bring.
Mohamed Muraz, a London-based marketing professional, says informal gatherings have allowed conversations to go beyond the venue. “This has led to many interactions on social media platforms. Independents have benefited from the interaction between consumer and brand on platforms like Clubhouse, Instagram, YouTube and others,” add the Watch Club founder on Clubhouse.
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“They can move freely and adapt their content quickly being an independent watch brand.” He expects more experiential retailing, whether it’s “roadshows, pop-ups or a point-of-sale to work with their distribution network, or to create a personalized experience.”
The power of partnership will also increase. “Brands will work with influential groups and communities to create something truly special that is unique to their audiences,” concluded Muraz.
Philips’ fourth edition of Intersect, a mixed online auction, runs through September 23.
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