PRIMETIME - June 2020
Watchmaking in the News.
2020 is definitely a turning point of the Swiss watch industry and through a clear lens, we dig deep and analyze the serious situation of the industry, as sales figures drop through the floor and executives are scrambling for the life boats. Are the headlines too bold? As the consumer behavior and the industry is being hit by major shake-ups as an effect of Covid-19, this is a seminal PRIMETIME edition.
The double digit number we all marked with a red pen in our horological calendar for April was -82%. When the world pulled the OFF-switch for Swiss watch exports marking serious repercussions for the industry, we consider how much the Horological ecosystem is susceptible to damage. If there are positive lessons to be learned here, they come from smaller producers like Czapek – having a network of small suppliers working together to launch a brand new model in the midst of the Crisis. One of many notable signs of the lateral thinking necessary for survival. Has the large budget internalizing of In-House production been more of a risk than a benefit? We have seen more empty watchmakers desks than in the financial crisis in 2008, and we fear the spectre of another downturn once government life lines run out this autumn.
So will this be a wake-up call? We are in the 21st Century and practices need to change. Brilliant examples like the fresh collaboration of the small giants of Haute Horlogerie MB&F + H.Moser. Is this one of the aces in the deck of cards that is the Future of Watchmaking? Brand evolution through embracing new technology and e-commerce will mark the survival of the fittest, but surely not at the cost of the ethical treatment of your own workforce? We have the inside story, but we do try to focus on the positive change this year is marking for the industry as a whole, because YES, there is more than one light at the end of the tunnel. Baselworld is history, but Geneva Watch Days is coming in August, an event which will be a likely success story, and this time it’s not virtual . Success is here for the taking when you are willing to change.
In this edition there is also room for stories to brighten up this sober vision of the future: a Philipps auction with pieces from Jean Claude Biver’s eclectic collection, news of the upcoming videos from this channel, and even a tempting competition for our Patrons. Do not miss this PRIMETIME, even if the analysis will make you compare watchmaking in 2020 to an F1 Grand Prix in the rain. This is when the game changes for the best drivers. Will the Mercedes, Ferrari and Red Bull teams of watchmaking sharpen their game or end up crashing into the barriers?. Consider yourselves the audience.
Enjoy & Viva Watchmaking!
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