Watch expert Biver sees industry in “healthy” consolidation phase
Published: Friday, Apr 12th 2024, 17:10
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The former head of renowned watch brands such as Blancpain and Hublot, Jean-Claude Biver, believes that the Swiss watch industry is still in a good position. "I consider the state of the Swiss watch industry to be very healthy," he said in an interview with "Finanz und Wirtschaft" (online 12.04.)
"The healthy industry is the one that doesn't exaggerate. And we had an exaggeration. Every manufacturer was up to their eyeballs in orders, and that was extreme. Fortunately, that happens. But fortunately it doesn't last forever," continued Biver.
The industry is currently in a consolidation phase, and that is very healthy. "Because it provides a basis from which to build on. This phase will last two or three years, and we are probably already in the second year," says Biver.
Good future for expensive watches
He predicts a good future for the high-end segment of the watch industry: "Because it is art and not industry." However, he is also optimistic about the industry as a whole and more affordable watch segments. "But it is required that we also make progress in the industry. For example, a battery - I'm going to say something - that lasts fifty years. I am convinced that there will be people who will buy a watch if they know that the battery will last fifty years."
Biver considers the Swatch brand, which is located in the low-price segment, to be strong: "It conveys fun through design, fun through the connection with museums and artists." The cooperation with the Tate Gallery is a great hope for the industry. "Because the stronger Swatch is, the better off we all are. The more watches Swatch sells, the more people there will be who one day say: Oh, now I'm going to buy a gold watch."
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