“It is the fault of globalization. . .” bemoan the ‘real’ watchmakers who are witnessing the inevitable rise in strength of ‘fashion’ watches, those timepieces bearing the signature of the great lords of global couture.
Gone are the days when we could condescendingly consider fashion watches as ‘accessories’ stuck in between the ties, belts, and shoes. Today, some of the brands emanating from couture and haute couture, which have entered the domain of complicated and refined haute horlogerie, are playing on an equal footing with the oldest and most venerable brands.
Other brands confine themselves to the middle segment of the market, offering watch products that follow the seasonal changes of the fashion collections. There are also those labels, and often very well known (Armani comes to mind), which have chosen the ‘economical’ end of the market (not to be confused with the ‘low-end’) that may use Chinese products, but ones that are well designed and relatively well made.
But whatever their positioning, one thing is clear: the intrusion of the ‘fashion’ watch has truly upset the global order of timekeeping. This is evident in terms of styling (to combat this phenomenon, watchmakers have ‘fashionized’ their designs); innovation (watchmakers have also increased the rate of introducing new collections); distribution (for example, observe the increasing numbers of single-brand stores opening up); communication (watchmakers are now creating their own ‘brand universe’ like the couturiers, and are turning to ‘testimonials’ from the fashion world as well as global marketing campaigns); structure (creation of subsidiaries rather than selling through agents); and logistics (the same product is available at the same time throughout the world).
A double phenomenon, inversed in a way, is also taking place. First of all, the large luxury groups, with LVMH in the lead (with its turnover of 15 billion Euros), are making investments in the watch sector by acquiring brands. Secondly, other groups of watchmaking origin (Movado and Swatch, for example) are buying licenses to produce fashion watches. Watchmaking and the fashion sector have thus become entwined to the point that, today; the ‘fashion’ segment of the market (regardless of its price level and image) has become a basic part of the global watch landscape. And, it will remain so.
Because of its importance, Europa Star has thus decided to examine this phenomenon by dedicating a special column, in each printed magazine issue, called GLOBAL FASHION SIGNATURES, which looks at the fashion watch segment.
As an introduction, in our December/January issue we present an initial look at three brands from the world of luxury that have reached the coveted level of ‘authentic’ watchmaking—Chanel, Hermès and Louis Vuitton, as well as an article devoted to the watchmaking strategy of Hugo Boss, acquired two years ago by Movado. We also present ‘Sophie's Choice’ in which our editor Sophie Furley shares her ‘fashion’ discoveries during her latest round of shopping.

Photo: Zenith


Source: Europa Star December-Januar 2008 Magazine Issue