October 28, 2016
by Kenny Yeo
1. Still ticking: The improbable survival of the luxury watch business
By all accounts, the luxury watch business shouldn’t thrive. There’s no need for anyone to be wearing a $10,000 watch, much less one that costs hundreds of thousands or even millions of dollars, especially when a cheap quartz watch is much more accurate. Wait, scratch that. Now that smartphones are everywhere, is there even a need for a watch? So how is it that luxury watch companies like Rolex, Omega, and Patek Philippe exist? This article provides a comprehensive, and often hilarious, look at the luxury watch business.
Source: The Guardian
2. Why retail price reductions are the biggest challenge for the luxury watch industry today
There’s no question that the watch industry is in a bit of a pickle today. After enjoying a period of explosive growth, revenue has been decreasing for the past couple of quarters, which has forced brands to rethink their strategy, and in some instances, even undertake cost-cutting measures. One of the reasons business has been hit so hard is that prices have increased dramatically in the past few years. Sure, when the economy was good, increasing prices wasn’t a problem; but now, this move has come back to bite brands hard. So why not just introduce price cuts, I hear the layman consumer say. That does sound like the most obvious solution, but it isn’t as simple as you might think.
3. History of the Patek Philippe Nautilus, Part 1 – The Birth of an Icon, the 3700 (1976/1990)
Some 40 years ago, an icon of horology was born. If you have been following watch news closely, you’ll know that the icon I’m referring to is the revered Nautilus from Patek Philippe. Just weeks ago, Patek Philippe unveiled the special 40th anniversary editions of this legendary watch. And now, I guess it’s a good time to revisit the roots of the Nautilus. To go back to its beginnings to learn how came it be, who designed it, what the inspiration for it was, and why it was so special and unique for its time. It is time for a history lesson.
Source: Monochrome Watches
4. Nomos on Nomos: The brand story
Value is the new buzzword is the watch industry, and rightly so. After years of exponential growth, watch brands have finally had to deal with the reality that such growth is unsustainable and unrealistic. And when it comes to offering value in their watches, few brands do a better job than Nomos. Nomos has become something of a horological hero for folks who just want a good watch with thoughtful designs and solid movements. So here is the story of Nomos, their movements, their watches, and their philosophy and strategy.