Late To The Party
Tatler Singapore|August 2020
Watchmakers are finally going online in a bid to jump-start sales. But with boutiques closing around the world because of Covid-19, what does this mean for collectors?
Annie Darling
Late To The Party

From augmented-reality filters that let you “try on” watches to virtual sales assistants offering up-to-date advice, today’s use of technology by watchmakers is striking for an industry that has famously clung to tradition. Even before the coronavirus outbreak, high-end watchmakers were struggling, particularly towards the end of last year after months of pro-democracy protests in Hong Kong, which is an important market for Swiss timekeepers. So when governments imposed Covid-19 lockdown measures just a few months later, the brakes were well and truly put on “Swiss Made” watchmakers everywhere.

For Giles English, co-founder of aviation-themed watchmaker Bremont, the numbers are impossible to ignore. “The industry has been badly hit,” he says, “but it will certainly recover.” Watch exports plummeted by more than 20 per cent in March compared to last year, according to a report released by the Federation of the Swiss Watch Industry (FHS). Another study by private investment group Bank Vontobel predicts that exports will decline by 25 per cent in 2020, exceeding figures from the legendary quartz crisis of 1975 (down 15.2 per cent) and the more recent 2009 financial crisis (down 22 per cent). But don’t worry, your pocket-sized investments are still safe. That same report predicts that exports will bounce back by about 15 per cent in 2021.

Denne historien er fra August 2020-utgaven av Tatler Singapore.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra August 2020-utgaven av Tatler Singapore.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA TATLER SINGAPORESe alt
Mathew Leong
Tatler Singapore

Mathew Leong

As the Norway-based Singaporean chef celebrates a milestone year both personally and professionally, he opens up about the toughest moments of his career and why failing is not an option

time-read
3 mins  |
November 2024
Asian Inspirations
Tatler Singapore

Asian Inspirations

Chef Ace Tan on his second restaurant, Asu-his love letter to regional Asian cuisine

time-read
4 mins  |
November 2024
State of the Arts
Tatler Singapore

State of the Arts

Arts nominated member of parliament Usha Chandradas discusses growing the creative economy by focusing on both supply and demand

time-read
4 mins  |
November 2024
Through a Curator's Lens
Tatler Singapore

Through a Curator's Lens

Circe Henestrosa, a fashion curator and the head of the School of Fashion at Lasalle College of the Arts, University of the Arts Singapore, merges her personal connection with artist Frida Kahlo with her extensive curatorial experience to explore intersecting themes of identity, disability and cultural heritage

time-read
4 mins  |
November 2024
Second Nature
Tatler Singapore

Second Nature

Poet and educator Yong Shu Hoong brings fresh perspectives to the helm of the Singapore Writers Festival, from interdisciplinary perspectives to multilingual programmes

time-read
3 mins  |
November 2024
Wine Down
Tatler Singapore

Wine Down

Nothing wraps up the day like a nice glass of vino. From flashy hedonistic escapades to geeky watering holes, these new wine bars promise celebrated viniferous pours that will please even the most discerning of oenophiles

time-read
3 mins  |
November 2024
A Legacy in Silhouettes
Tatler Singapore

A Legacy in Silhouettes

Kristina Blahnik, CEO of the designer shoe brand Manolo Blahnik and the niece of its legendary founder, shares her insights on preserving the house's heritage and introduces the new Manolo's Silhouettes campaign

time-read
4 mins  |
November 2024
To Have and to Hold
Tatler Singapore

To Have and to Hold

With its sumptuous textures, Loro Piana's elegant autumn/winter 2024 collection is a chic celebration of craft, quality and the universal appeal of tactility

time-read
2 mins  |
November 2024
Scent of Strength
Tatler Singapore

Scent of Strength

Hermès unveils its first chypre perfume, Barénia―a captivating fragrance crafted by renowned perfumer Christine Nagel that embodies bold femininity and celebrates the brand's rich heritage

time-read
2 mins  |
November 2024
Nocturnal Revival
Tatler Singapore

Nocturnal Revival

Nighttime skincare rituals will get a boost of supercharged restoration with La Mer's new Rejuvenating Night Cream

time-read
2 mins  |
November 2024