R&D supporting industry
IN terms of research and development, Switzerland’s watch industry is blessed with very exciting and incredibly innovative companies. All brands and the large watch groups rely on a large group of highly-specialised and innovative suppliers and sub-suppliers for their manufacturing activities and future growth.
“It is important for the large and small brands to work with these companies in the watch supply industry as well as cultivate these partnerships and drive each other to develop new materials, technologies, and to incorporate them into the production of watches,” Singapore-based business veteran in luxury products and luxury watch distribution, Alexander C Melchers, tells BT.
Close collaboration with specialists in the various fields like materials for case production, dials, hands, et cetera, generally promotes innovation, he adds.
In many of the established companies, the younger generation is now taking over company management. At the same time, efforts are also being made to bring young talents into the company who bring a new and open mindset. This gives the employee the opportunity to continue to develop their skills in an innovative and ambitious environment.
“One of the new areas here is sustainability. Norqain, for example, has decided to be 100 per cent vegan and this has created a lot of attention among younger and conscious consumers,” says Melchers.
The company has pledged to be 100 per cent animal cruelty-free and has never used crocodile leather straps since day one. Instead it has opted for certified vegan rubber straps with a crocodile leather texture.
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It has decided to go one step further and has committed to no longer introducing watches with leather straps. All of its future watches will feature a metallic bracelet, fabric strap or vegan option – such as certified vegan leather or certified rubber. No trace animal materials are used in the production of any component of the watch as well.
In the age of digitalisation, it is not surprising that there are also newcomers who often focus exclusively on online sales.
“With China as a supplier of very affordable watches – you may call them cheap too - it is also very easy to just create a new brand. However, it is very difficult to establish yourself as a brand and compete with the Swiss made label. In the watch industry, brand recognition, trust and identification with a brand is very important,” he stresses.
In order to be successful in the long term as a Swiss made watch brand, one has to know their way around the industry, a large network of premium suppliers and a big know-how in terms of watch production. In addition, one of the most important points is to have a strong, authentic and above all, individual and independent positioning as a brand, Melchers tells BT.
“This allows you to differentiate yourself from your competition and have your own identity. As an independent brand, you need to maintain your entrepreneurial spirit, take risks and show the greater will to innovate compared to the big corporations. We also believe that it is increasingly relevant to be a privately-owned brand, and to not belong to a large group. This lends additional credibility to the brand, and the brand has a face…
“With Norqain, we are following this vision and are excited to see how the brand is developing on an international scale. Norqain is privately-owned and the founder, Ben Kueffer, is a great personality and the face of the brand,” he adds.
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