Can Luxury Watches Stand Up in Today’s Smart Market?
The luxury tech giant Apple is betting large on peoples wrists. A lot of silicon valley is considering that all hallowed space between a persons arm and their hands. However there’s something missing with smart watches. They aren’t timeless, and they lack class. Also you need to charge them every 12 hours. When I consider my old mans watch I think of something sturdy. It needs no attention until you need to know the time. It’s something that could be handed down. I doubt a kid 20 years from now will want an Apple Watch with a dead battery.
So now that we’ve ruled out the tech world as being the answer we now turn to the luxury watch market (with 100% less apps). There are of course the classics, but is there room in today’s market for a new player in the market? Jean-Pierre Lutgen, a Belgian entrepreneur thought so. In 2006 he started the Ice-Watch concept, a slick stylish fashion accessory. 11 years later the Ice-Watch is found in 85 countries worldwide and 7,000 stores. 12,000,000 watches were sold by ICE-watch by the end of 2013, a feat never achieved by any other watch brand.
In 2014, Ice-Watch achieved a 40 million euro turnover selling over 1.8 million sold watches.
In recent times Lutgen has partnered with BMW to create some strong masculine timepieces, and while they’re operating in an analogue format that hasn’t stopped them from garnering 5 million fans on Facebook.
Talking at Baselworld Jean-Pierre Lutgen remarked on the surprising explosive growth of the business. “I didn’t expect to achieve what we have achieved with ICE-watch. Ice Watch is gaining the quality of the watches every year. This year we again expend our product lines with new colours but also with the use of new materials. Steel, leather, canvas, nylon and denim will be added as well as several other materials in a host of harmonious combinations to fulfill every taste.”
A smart watch may be able to play flappy birds but nothing can account for taste.