e recently interviewed a broad selection of managers, active in a variety of segments, to help us identify the major trends within the watch industry.
Our Q&A with Jared Silver – Stephen Silver.
Europa Star: What are your strategic priorities for 2023?
Jared Silver: Our company is in the midst of a major retail development project that will house stand-alone boutiques, a restaurant, a living room-style showroom as well as our corporate offices. This will be a transformational project for luxury retail in the San Francisco Bay Area and especially in our part of Silicon Valley, which has massive amounts of potential for local development done the right way. This will be the most important project in which our company has ever engaged.
- Jared Silver
Which brands or types of brands do you think have the highest potential for growth this year?
Stephen Silver Fine Jewelry has always concentrated on independent brands. I see the greatest potential in this sector on a macro level. While the last couple of years have been kind to the watch industry at large, the bigger brands will have to negotiate relaxing demand and aftermarket prices as the economy cools. The independents, on the other hand, have received exposure like never before, which has brought interested clients in large numbers relative to their exceedingly small production levels. I think they will continue to benefit as the top-tier customers discover their qualities versus the much larger companies.
The emergence of the secondary market represents a major new development. Are you taking any steps to build a presence in preowned?
We have been highly active in the pre-owned market for several years. For a company like ours that prioritises relationships, our ability to help our customers curate their collections has created a virtuous cycle. We now have a pre-owned collection filled with exotic and hard-to-get models. It also allows some of our newer collectors to access some of our brands whose production is oversubscribed.