“LVMH watch chief Jean-Claude Biver said 2016 is set to be a tougher year for the Swiss watch industry,” Andrew Roberts reports for Bloomberg. “The introduction of Apple Inc.’s smartwatch, combined with a surge in the Swiss franc and China’s slowing economy, have clouded the outlook for Swiss timepieces.”
“Exports fell in August, heading for the first annual decline in six years, and Swiss watchmaker executives are the most pessimistic in four years, according to a study published this month by Deloitte LLP,” Roberts reports. “Swiss watchmakers have struggled with a shrinking Chinese market since the country’s government started discouraging exuberant spending among officials in late 2012.”
“According to Biver though, the Chinese are still spending. ‘We see the consumer from China is traveling all over the world, in every country,’ he said, citing demand in places as far flung as Finland. ‘They’re buying outside China,'” Roberts reports. “Biver also said LVMH’s answer to the Apple Watch — the TAG Heuer smartwatch — will go on sale at 11 a.m. in New York on Nov. 9 and will look like a regular watch.”
We do not foresee anyone wanting to take off their Apple Watch in order to wear a “jewelry watch.” Apple Watch is not just a watch to be replaced with another regular watch. Maybe wearing two watches in come into vogue for special occasions? – MacDailyNews Take, April 16, 2015
Here’s what makers of Swiss or any other watches should do: Push the idea of wearing of two watches, one on each wrist or two on one wrist, into vogue. Because once people start using Apple Watch, they aren’t going to want to leave it at home. Ever. They won’t want to go to dinner parties without their Apple Watch. And that’s bad, bad news for watchmakers not named Apple. Watch and see. – MacDailyNews Take, April 16, 2015
My colleague used to wear TAG. He is now wearing Apple Watch all the time. At one special occasion he wore both watches in a same time, one on each hand. The funny thing is I actually predicted it as I read MDN and told him this will happen, He laughed back then. Now its a fact.
Dismissing the threat posed by Apple Watch hasn’t worked out too well. I wonder what strategy the Swiss luxury watch industry will try next to save face?
This is a great example of an Apple product impact that MDN nailed from the pre-release briefing. All we have to do is sit back and watch MDN’s predictions unfold month by month…
Disruption…it’s what’s for dinner, stupid watch makers.
I agree that the Apple watch is feminie looking. If you wear a Rolex Submariner for example……seeing an Apple watch on your wrist is kind of an aesthetic let-down. But wearing the Apple watch you get accustomed to the feedback and info you learn to gather from it.
My colleague used to wear TAG. He is now wearing Apple Watch all the time. At one special occasion he wore both watches in a same time, one on each hand. The funny thing is I actually predicted it as I read MDN and told him this will happen, He laughed back then. Now its a fact.
“They’re buying outside China”
Sure, because you’re over-charging for luxury goods inside China.
Dismissing the threat posed by Apple Watch hasn’t worked out too well. I wonder what strategy the Swiss luxury watch industry will try next to save face?
he should invest in some quarter machines to pick up share
This is a great example of an Apple product impact that MDN nailed from the pre-release briefing. All we have to do is sit back and watch MDN’s predictions unfold month by month…
Disruption…it’s what’s for dinner, stupid watch makers.
I agree that the Apple watch is feminie looking. If you wear a Rolex Submariner for example……seeing an Apple watch on your wrist is kind of an aesthetic let-down. But wearing the Apple watch you get accustomed to the feedback and info you learn to gather from it.
It’s just washed out and ugly for a man’s watch.
Totally agree