What to Expect From the Watch Industry in 2018
Over the past three decades, Andrew Block has seen the luxury watch industry evolve from a rarefied trade known only among connoisseurs of mechanical watchmaking into the mature, global business it is today. He spent 21 years at the watch retailer Tourneau before leaving to open his own consulting firm in 2011. Earlier this year, he was named president of the preowned watch and jewelry site TrueFacet.com. Recently, Block spoke to Robb Report about the rise of independent watchmakers, the importance of storytelling, and why digital is the industry’s next big frontier.
Everybody within the watch world always looks for the next emerging market. Where can they focus their efforts to build a market? Ten years ago, it was the BRIC countries: Brazil, Russia, India, and China. Then it became the Far East; China became the center of the luxury world. We all know how those markets have fluctuated. So the next emerging market for watch brands is digital. They all have to embrace digital, no matter what.