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Watchmakers campaign in NYC
Economy

Watchmakers campaign in NYC

Monday, 23 May 2016
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Carol Besler
Journalist

“Watches are functional art.”

Carol Besler covers watches and jewelry worldwide.

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5 min read

TimeCrafters returned to Park Avenue Armory in New York City over the weekend of May 13-15 with the aim of developing the culture of watchmaking in the United States.

The weekend show included seminars, watchmaking workshops and a press cocktail event that was very well attended. Ambassadors present included talk show host Michael Strahan and TAG Heuer ambassador Patrick Dempsey. Audemars Piguet’s chiming SuperSonnerie was housed in a special listening chamber built for the occasion. The Vacheron Constantin Reference 57260 timepiece, the world’s most complicated watch, was under close surveillance beneath a reinforced glass dome.

Courting of local buyers

A common purpose among the exhibiting brands was to connect with the local market and hopefully bring in a few new customers who were previously not exposed to watches. “We are developing the culture of watchmaking in New York City,” says Philippe Bonet, president of Jaeger-LeCoultre in North America, who said he expected the weekend show would draw about 5,000 people. “If we can bring more people to our little world, then great. The brands that are here are supporting the effort in the hope that we’re going to find our groove and that more potential collectors will get to discover us in these kinds of venues.”

The courting of local buyers in multiple locations simultaneously seems to have become a common strategy among global watch brands.

Kilian Müller, president of TAG Heuer North America agreed that, “It’s always important to educate the consumer about the world of watches. Hopefully the show will attract not just collectors but also people who are new to watch collecting. I think it’s important that we participate in the effort. The market share is shrinking, and we all need to work together to bring more people into the world of watches. TimeCrafters is a good way to do it.” While some companies are reported to be laying off staff this year in the wake of declining demand, Müller says TAG is doing the opposite. “For the connected watch we are creating jobs in Switzerland right now; we’re creating an assembly line.”

The courting of local buyers in multiple locations simultaneously seems to have become a common strategy among global watch brands, who are reaching out to more general audiences rather than focusing strictly on events with established collectors. “We have an H-to-H strategy – human to human – going forward,” says Vincent Steinmann, marketing and communications director of Zenith. “We are here today as well as at several other events going on simultaneously in the world in an effort to try to meet a maximum number of people in local markets.”

Timecrafters 2016
Vacheron Constantin, among the 18 brands exhibiting at TimeCrafters, showed its Reference 57620 timepiece, the world’s most complicated watch.
America is a great market

“We weren’t here before because we had no store in New York City,” says Jean-Marc Pontroué, CEO of Roger Dubuis. “Now that we do, we believe it makes sense to come to this kind of event. We forget that despite the success in the Chinese market for the last 20 years, the number one luxury market in the world remains the United States of America. That’s why we’re here. That’s why we opened a store on Madison Avenue. The challenge with a brand like Roger Dubuis, with a bestselling watch that is $240,000, is how to connect with people who have this purchasing power. How you can create this kind of brand immersion for the 1% who will be our clients. We believe that this is the right location where we can find these people.”

The Chinese tourist market was an opportunity that everybody grabbed, but in the end, the essence is with locals, that’s the key.
Vincent Steinmann, marketing and communications director of Zenith

The watch industry has been buoyed the last decade by the Chinese market and Chinese tourists in other markets, and now that this tap has been shut off, brands are shifting their strategies. “Yes, we were invested in China, but not as deeply as others because we are not a big, big brand,” says Zenith’s Steinmann. “And, okay, the Chinese tourist market was an opportunity that everybody grabbed, but in the end, the essence is with locals, that’s the key. I am totally convinced that there is potential here, especially for us because we weren’t able to sell watches here for many years because of trademark issues with Zenith electronics. So we are pretty new in this market. It’s a challenge.”

Silvia Juarez-Henry, president of A. Lange & Söhne North America, attended the show for the first time. “America is a great market,” she says, “not just because of the size but because of the potential. We would never underestimate the power of the New York market. There is a watchmaking school here now and more and more people are getting into watches. Local shows like this are growing, and it would be a mistake not to be here.”

The brands

*A.Lange & Söhne, Alpina, DeMonaco, Audemars Piguet, Baume & Mercier, Chopard, Frédérique Constant, Hublot, HYT, Jaeger-LeCoultre, Manufacture Contemporaine du Temps, Richard Mille, Roger Dubuis, TAG Heuer, Tiffany & Co., Urwerk, Vacheron Constantin, Zenith

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