International Swiss watchmaking conglomerate Swatch Group has confirmed that prices for at least six of its brands will increase by 5% in the UK according to a recent WatchPro news report. The price adjustment is due to take place starting March 1st, 2017, and follows the pound’s recent 15% loss in value against the Swiss franc. This is the first price increase we’ve seen since the Brexit decision in June of last year and it presents yet another unexpected economic development for an industry that seems to be increasingly fragile.
According to the briefing received by WatchPro, Swatch Group’s headquarters confirmed that “Omega, Longines, Rado, Tissot, Hamilton, and Certina will increase their prices by around 5% from March 1st.” While price hikes are typical for this industry, Swatch has managed to hold out a bit longer than its competitors. Just recently companies like Rolex along with LVMH and Richemont brands increased their own prices in response to the recent economic shift.
It’s true that, at face value, a 5% increase limited to a specific territory might not seem like something to be too concerned about. However, Swatch has made it clear that these adjustments are becoming necessary and their recent announcements last fall referencing price hikes for ETA movements serve as clear evidence that these adjustments may be coming more frequently.
While it can also appear to be an overall parent company ruling, Swatch is insisting that the move was based on decisions taken by each individual brand. As of now, there hasn’t been any mention of additional brands intending to take part in the increase, but Swatch headquarters stressed that any future price adjustment decisions would be communicated well in advance.
There’s a tachymeter for measuring rate, of course, along with telemeter that can be employed to assess the distance to a distant sound. Telemeters are generally associated with naval warfare however, as Hamilton points out, could be used to assess the distance to a lightning strike, for instance. It is such a creative use of having a crystal clear case back be a second dial, you need to love it even if it is not really your style.Only 1,999 Hamilton Jazzmaster Face 2 Face II Limited Edition watches will be made, and also the amount from the manufacturing run of every watch is printed on the side of the rotating case, concealed during normal wear, but observable with the sequential number as you move from 1 dial option to another.As I mentioned at the beginning, there’s a lot going on with this watch: a rotating case, a chronograph with passing-through seconds hand, skeletonized elements, three dimension scales, three sub-dials, date and day windows, and enough mixed materials and colours to keep your eyes occupied for a while. It certainly won’t be for everybody, more of a Kandinsky than Mondrian in terms of contemporary design, but the Hamilton Jazzmaster Face 2 Face II Limited Edition is surely an ambitious and entertaining piece offering much, and enough of an update on the first variation to stand apart from it. It was also an important model in the history of Hamilton on the silver screen, being the first watch from the brand to appear in a motion picture. The film was, fittingly enough, ” The Frogman, a 1951 release about the U.S. Navy’s Underwater Demolition Team.
One factor that can’t be ignored is the pressure these price changes put on UK retailers. They make it increasingly difficult to compete against American, European, and Asian retailers while setting a generally uncertain tone within the industry overall. But with a financial environment as delicate as the Swiss watch industry, it’s evident that massive changes like the UK’s withdrawal from the European Union are sure to create consequences for brands, retailers, and most certainly, buyers.
As mentioned previously, these price increases will, for the time being, only apply to the six brands specified earlier. In a time when value proposition regarding pricing and quality is quickly climbing to the top of the priority list for most buyers, a 5% increase such as this could be detrimental for a great number of enthusiasts. This is especially true considering that several of the brands affected are generally regarded as more popular budget-friendly brands. As with most major adjustments, only time will tell if the there will be negative effects in the long run but price hikes during a time of economic fragility within the industry can only serve to make things a little more bleak. swatchgroup.com