Recently you run into articles like this, "...with the rise of smartwatches, the luxury watchmakers are done, the Swiss better be prepared to discount heavily and re-invent themselves" and other similar nonsense.
Media writers are either very young or they forgot history in my opinion.
What is your take on this??
Someone should tell these people (a bit too much in love with high-tech) that are predicting the doom of the world watchmaking royalty that there haven't been "logical" reasons to buy expensive luxury watches for decades, even before the Quartz revolution. People buy these timepieces because they admire the craftsmanship, the perceived status, etc.. not because there weren't more practical, more functional and, mostly, more cost effective alternatives. Maybe is a surprise to them but people could buy a Timex diver as durable as a diver from Omega, Rolex, etc....for a fraction of the price.
More news to them, we had already a "smartwatch" wave starting in the 1980s when a flood of multi-functional quartz sport watches hit the market....do they also realize what actually happened to the real price of a Submariner in that era?? It skyrocketed....did the availability of tough as nail G-Shock divers with a multitude of functions to make your head spin and capable of running circles around the famous Swiss luxury divers for serious heavy duty and for a laughable price tag in comparison limited their appeal?? Not at all.....and automatic watches actually experienced a revival during the years...
I love when one article wrote that "Apple now is one of the largest watchmaker in the world, ready to overtake Rolex"...sorry Apple you do not play in the same market space as Rolex...it's like celebrating that Seiko sells more watches than PP....
Finally, I was at an event last night and I noticed something that inspired me to write this post, two people (one of them my brother in law) wearing their Smartwatch/Fitbit on one wrist and a regular dress watch in the other...the logic why many media commentators think that the new smartwatches should mean trouble for the luxury watchmakers escapes me, especially given the past experience...if anything, I predict turmoil only in the Casio/Timex multi-functional sport watches market segment.
Tell me if I'm missing something.