Jeweller - May 2019

FASHION WATCHES
HEART & GRACE
All in good
FASHION WATCHES HAVE SEEN A METEORIC RISE IN
POPULARITY IN THE LAST TEN YEARS. ARABELLA RODEN
DISCOVERS WHAT MAKES THIS MARKET TICK
ashion watches are best defined by what they’re not, rather than what
they are. They aren’t concerned with the high-tech features of Japanese
timepieces like Seiko or Citizen, nor do they embrace the app-enabled
futurism of Apple and Samsung smartwatches. They lack the toughness
of rugged Swiss brands like Luminox, Omega or Victorinox.
It’s not about haute horlogerie either – while consumers of fashion watches might
admire the elegance of a Rolex, Jaeger-LeCoultre or Patek Philippe, they won’t be
keeping their timepiece in the family for generations; nor will they be spending
upwards of $10,000.
As it turns out, the fashion watch is not actually a watch at all – it’s an accessory.
And in terms of price, design and esepcially marketing, it should be treated
as such. Ranging from around $100 to $500, with accessories from around
$50, fashion watches are more akin to designer sunglasses than they are to
other timepieces.
There’s no denying their appeal to younger consumers either. Jake Kassan, cofounder
of US fashion watch company MVMT – which now has revenues of US$70
million per year with 88 per cent of its customers under 35 – recently told the New
York Times, “Watches have evolved. Our audience cares more about the style of a
watch than its function.”
He added, “The belief that traditional watches are relics of the past is false. Our
consumers may not be the most formal in their attire, but they are very intentional.
They think about what they wear, about what is on trend and up-to-date... A watch
is their statement piece.”
John Rose, managing director West End Collection – one of the leading suppliers
of fashion watches in Australia and New Zealand, representing Olivia Burton, Paul
Hewitt, Christian Paul, Bering and Ice-Watch among others – has a similar outlook.
“Millennials see their watch as an expression of their personality, a fashion item,
and will generally purchase a new watch every year or two,” he explains.
This repeat purchase power gives fashion watches an edge for retailers. And while
fashion watch brands tend to be as digitally savvy as their target market – with a
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