Timepiece + jewellery trends

TRENDS TIMEPIECE

What to expect in 2023 from upcoming watch launches? Experts worldwide share their views. BY DEBBIE HATHWAY

The Swiss watch industry is on track for a record year in 2022, with a 19 percent upswing in Swiss watch exports in September. According to the Federation of the Swiss Watch Industry, shipments increased that month to 2.2 billion francs (US$2.2 billion). Senior executives and industry experts surveyed for the Deloitte Swiss Watch Industry Study 2022 predict medium growth (27 percent) in the African market for the year ahead, just two percent behind Hong Kong. Four percent predict strong growth for the continent compared with 16 percent in the Middle East and 26 percent in North America – the highest growth market. South Africa is home to the most prominent luxury market in Africa by revenue, and collectable watches are a significant component of this. The Africa Wealth Report 2022, published by Henley & Partners, notes South African high-net-worth individuals collect the likes of Patek Philippe, Breguet, Vacheron Constantin and Audemars Piguet at prices ranging from US$20,000 to more than US$1 million.

WHAT COLLECTORS WANT

“I hope to see more ergonomic designs, back to the fi ne aesthetics of cases from the early 2000s. But I predict that not all watchmakers will do this. Maybe the smaller brands will return to their traditions and re-do their DNA from the 1990s to the 2000s. I would be happy to see that,” says Artemy Lechbinsky, CEO of Ineichen Auctioneers in Zurich, Switzerland.

US-based Collective Horology, founded by Asher Rapkin and Gabe Reilly to connect enthusiasts passionate about watchmaking through an exclusive membership and access to limited-edition bespoke timepieces, notice that collectors are turning increasingly to dress watches. “This is driven by changing tastes – notably, a growing preference for smaller watches – and newer collectors expanding their interests as they delve further into watchmaking,” says Reilly.

Growing interest in independent brands, as well as micro-brands, continues. “We’re also seeing renewed interest in high-end watchmaking from established brands, including Vacheron Constantin, Chopard and Montblanc’s Villeret collection, as collectors realise legacy brands can deliver interesting, well-fi nished watches on the level of independent brands,” says Reilly.

Meanwhile, Lechbinsky believes the best investment this year is complicated watches by Jaeger-LeCoultre and Parmigiani Fleurier.

Interestingly, collectors are no less excited by watches in the sub-US$1 000 segment than any other, with microbrands demonstrating that interesting watchmaking is possible at any price point. Reilly notes that Chicagobased Sō Labs’ new automatic watches show that creativity is alive and well in this segment. “Telling time should be about fun(k), not just function. Quality timepieces with rad colour combinations and strange names” states the brand.

Chopard Happy Sport

The limited edition Oris Divers Sixty-Five

BOLD AND BRIGHT

Mohammed Ravat, director at Sandton-based Bellagio Jewellers, hopes for bold designs but expects the new releases to be conservative and understated. “We’ve seen a trend this year towards sports chic in brands such as Oris with the ProPilot X Calibre 400 and just-released BRX-5 from Bell & Ross. The growth in this conservative but modern design category is a way to explore reaching a new client. I think this trend will continue in 2023,” he says.

Furthermore, since travel restrictions have been relaxed, there should be a shift towards releasing more diving watches, as this category has always been a traditional pillar for most brands. Ravat says diving watches allow brands to push the limits of design principles while still o ering a functional timepiece.

Dial colourways are another talking point. “While there will always be a large segment of the population that seeks out blue, black and white dials, there has been a strong trend towards bold colours of late. This broke into the mainstream in 2020 with Rolex’s brightly coloured Oyster Perpetuals but has also been seen all around the industry with purple dials from URWERK and vivid yellow from Glashütte Original. This is driven by a younger generation of collectors seeking watches that break from the norm,” says Rapkin.

Green dials have proved to be a refreshing change from conventional black and blue, Ravat adds. The recently released limited edition Oris Aquis New York Harbour edition has a green mother-of-pearl dial mimicking the colour of the water in New York Harbour and a complementary green strap. Furthermore, he says the introduction of the Colour Dream concept across gents’ complications from Franck Muller has been well received by clients. “The industry has been more daring with colour with the introduction of pastel colours in the Oris Cotton Candy collection, or use of copper brown in the Bell & Ross BR05 and ice blue in the BRX-5. The bold use of colour is a growth area, and we should see many more variations in 2023.”

INTRODUCING LUXURY BRANDS TO NEW AUDIENCES

Pre-owned luxury watches are becoming increasingly sought after, with almost one in three consumers saying they are likely or somewhat likely to buy one in the next 12 months, an increase of almost 50 percent from Deloitte’s survey last year. “Consumers consider buying pre-owned watches because of the lower price, the opportunity to buy a discontinued model, for investment purposes, and for sustainability reasons. The trend is even stronger among younger customers.

Waseem Ravat (@watch_maniac), founder of the SA Watch Club, encourages investment in pre-owned watches, especially by new watch enthusiasts. “Depending on your budget, I’d say look at TAG Heuer, Bell & Ross, Cartier, Panerai. It’s great value for money and a fraction of the retail price. For new watches at the R40 000 to R50 000 price point, I’d suggest TUDOR, Longines, Rado, Breitling and Bell & Ross.”

HANDCRAFTED LUXURY

In 2023, jewellery design trends will favour big, bold and bright metals and gems, natural, ethically sourced materials, geometric patterns and organic shapes.

There is an emotional shift from indulgent spoiling to self-celebration in consumer purchases, with more buyers attracted to pieces they can wear for daily pleasure rather than a special occasion.

Demand for genderless aesthetics is opening the way for brands to capture more of the male market with designs extending beyond the traditional wedding band to engagement rings and line extensions that include everything from delicate to more daring and fashion-forward styles.

Yellow gold will continue to dominate the market, while vintage pieces hold their own through the longevity of appeal and opportunity for personalisation through a redesign for modern heirlooms.

The State of Fashion Watches & Jewellery report released by The Business of Fashion and McKinsey & Company o ers a five-year view to 2025 and highlights the potential for other materials to have a moment beyond the traditional gold, platinum, and diamonds. The authors foresee increased experimentation with titanium, for example, more coloured stones and potentially lab-grown diamonds, despite some jewellery players questioning their energy e ciency in production.

Conscious consumers seek jewellers who prioritise sustainable practices in sourcing and making accessories, with Bvlgari and Chopard being longstanding proponents of sustainable, ethical practices.

NYC-based Ra a Jewels follows the same policy and adheres to a strict no-waste policy. Metals are recycled and given new life when clients commission something new from an older creation passed down by generations.

Cartier and Kering, together with the Responsible Jewellery Council, launched the Watch and Jewellery Initiative 2030 to encourage industry players to strengthen e orts to achieve the global Sustainable Development Goals (SDG).